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Evolution Gaming Reports Positive H1 2020 Results

Niji Narayan

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Evolution Gaming Reports Positive H1 2020 Results
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Evolution Gaming has reported positive H1 2020 results. The company’s operating revenue increased 48% year-on-year to €243.5 million during H1.

EBITDA also increased by 85% to €145.3 million, corresponding to a margin of 59.7% (47,7), while profit for the period amounted to €124,6 million (63,1) and earnings per share amounted to €0.69 (0.35).

During the second quarter, operating revenues increased by 50% to €128.3 million (85,7), EBITDA increased by 90% to €81,1 million (42,7), corresponding to a margin of 63,2% (49,8). Profit for the period amounted to €70,4 million (34,5) and earnings per share amounted to €0.39 (0.19).

Evolution CEO Martin Carlesund said: “The strong development for Evolution continued during the second quarter. The quarter has been eventful with several product launches and a very high demand, partly due to the lack of sports betting games through a large part of the period, but we also see strong underlying growth. At the end of June, we announced a recommended offer to the shareholders of NetEnt with the aim to expand Evolution’s offering with market-leading slots and to continue towards our vision to become the global leading provider of online casino.

“Revenues for the second quarter amounted to EUR 128.3 million (85.7), an increase of 50 percent compared to the corresponding period last year. EBITDA amounted to EUR 81.1 (42.7) with a margin of 63 percent. The margin has been positively affected by high demand and that we have operated fewer tables due to the pandemic. However, the lower number of tables has had a negative effect on revenue both through lower fees from our dedicated environments and through lower capacity than normal. For the January-June period, the margin was 60 percent, meaning we have a good distance to our previous prediction of improving the margin level this year compared to 2019.

“Evolution’s vision is to become the leading B2B provider in online casino. An acquisition of NetEnt means that we can accelerate the pace towards this vision. To add NetEnt’s leading slots to Evolution’s strong Live Casino offering will create a very strong market position significantly faster, especially in the USA, and together with clear synergies we believe this to be a strategic and highly attractive acquisition. A future Evolution with two verticals as the foundation will increase cash flow and reduce risk, while the growth potential increases. The bid process continues according to the previously announced time schedule.

“During 2020, Evolution has continued and strengthened its focus on products and innovation. Our ability to develop new unique games while at the same time creating new variants of traditional games is important to further strengthen our leading position in Live Casino. So far, we have launched 8 out of the 12 games that we will launch this year. After the end of the quarter, we launched another one – Crazy Time – which is the most expensive and time-consuming game that we have developed to date. The reactions were instant, and we are overwhelmed by the positive reception among both players and operators.

“All new titles, especially in the Game Show category, contribute to a generally higher interest in Live Casino. To meet the increasing demand, it is vital that we continue to expand our studio capacity. Our Pennsylvania studio will be our 9th studio. Upcoming additions include a studio in Michigan and an English speaking studio in Lithuania.

“During the quarter we signed an agreement with Golden Nugget that will see Evolution’s US Live Casino services to be added to their existing online offering in New Jersey. The agreement consolidates Evolution’s leading position in New Jersey, while also providing a strategic platform to explore additional opportunities together with Golden Nugget in other states as the regulation of online casino in the USA continues.

“It has been an intense first half of the year impacted by Covid-19, which has entailed here-and-now problem solving. Since a few months back, we have a more stable virus situation and we have been able to devote more time to look forward while also preparing Evolution for a possible future second wave or similar pandemics. We are now working intensively with next year’s product launches and how Evolution will play a role in the continued digitalisation of the casino industry. I believe that our focus on the best game experiences and a relentless approach to always improve as a company will continue to be important pieces as we move ahead. We shall become slightly better each day, and every day shall take Evolution another step forward.”

Industry News

GLI Tests GameScanner’s Performance

Niji Narayan

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GLI Tests GameScanner’s Performance
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Mindway’s GameScanner has become the first responsible gambling solution to have its performance on detecting at-risk and problem gamblers tested and validated in a sample by Gaming Laboratories International (GLI), the gaming industry’s leading testing and assessment company.

GameScanner is part of the Mindway Solution Suite that offers a range of solutions to ensure gambler protection through the synergy of highly advanced artificial intelligence, neuroscience and expert ratings. Implemented at iGaming operator sites and platforms, GameScanner automatically monitors and analyses every event of every gambler 24-7-365, resulting in the profiling of gamblers according to their risk level.

“We see it as a true milestone for Mindway’s GameScanner software to have been tested and proven in a sample test as the first problem gambling solution by GLI, who deliver world-class and highly acknowledged testing in the gaming industry. We are proud of getting the claims about GameScanner’s performance validated by an independent third party. This is another step towards raising the bar in player protection and making gambling sustainable and fun for the players at the same time,” Rasmus Kjaergaard, CEO of Mindway AI, said.

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Industry News

GVC Becomes Founding Member of All-in Diversity Project

Niji Narayan

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GVC Becomes Founding Member of All-in Diversity Project
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GVC Holdings has joined the All-In Diversity Project, an industry-driven initiative to benchmark diversity, equality and inclusion for the global betting and gaming sector.

The All-in Diversity Project provides tools to businesses looking to progress in the area of Diversity & Inclusion (D&I). GVC’s membership in the All-In Diversity project will help accelerate its leadership role on (D&I) issues within the sector.

“GVC is delighted to become a Founding Member of the All-In Diversity Project. As a global employer, GVC is committed to providing a safe, fun, and inclusive culture where our people feel they can truly belong. We are a multicultural business that values, celebrates and respects individual differences, so whatever your sexuality, gender, gender identity, ability, age, race, religion or belief, you will have a voice here, and the space to do your best work at GVC. We look forward to working with our partners to make our industry a more inclusive environment,” Shay Segev, CEO of GVC, said.

“GVC is a great addition to our roster of Founding Members. As a multi-channel, multi-jurisdictional industry leader, they bring an unrivalled knowledge and global perspective of the industry that along with a passion to lead and share their best practices will help us take another huge step towards a better more inclusive industry. We are proud to welcome them,” Kelly Kehn, Co-Founder of All-in Diversity Project, said.

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Industry News

Scientific Games Signs Four-year Dutch National Lottery Contract

Niji Narayan

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Scientific Games Signs Four-year Dutch National Lottery Contract
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Scientific Games Corporation has entered into a new contract with the Dutch National Lottery Nederlandse Loterij.

The deal will see Scientific Games provide its instant game “scratch cards” to the Lottery for a period of four years through the Scientific Games Enhanced Partnership (SGEP), a performance-driven management programme used by more than 20 lotteries globally. The agreement may be extended by Lottery for up to four additional years.

“After a decade of work refining our successful partnership, we are pleased to continue our collaboration with Scientific Games. While this announcement comes during a challenging global situation, we are confident our ongoing collaboration will continue our responsible growth trajectory of the instant ticket business for Nederlandse Loterij to provide maximum transfers to our beneficiaries,” Raffaele Fiorini, business director for Nederlandse Loterij’s instant tickets, said.

Scientific Games has supplied Nederlandse Loterij with scratch cards since 1994, moving to the SGEP programme in 2010 for full product category management. Scientific Games also provides the Lottery with sports betting technology and services.

“We are honored that Nederlandse Loterij has entrusted Scientific Games with its instant scratch cards business, and we are committed to using our more than 45 years of experience to continue developing its instant product portfolio to responsibly grow sales and profits,” John Schulz, Senior Vice President, Lottery Instant Products for Scientific Games, said.

“SGEP is the market-leading program for lotteries focused on responsibly growing the instant product category. It is proven successful for many of the top-peforming lotteries in the world, and we are delighted to continue maximizing results for Nederlandse Loterij and its retail partners, while providing great entertainment for players,” Matthias Müller, Vice President Sales & Marketing for Scientific Games International Lottery Systems, said.

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