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Evolution – INTERIM REPORT FOR JANUARY-SEPTEMBER 2021

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Evolution - INTERIM REPORT FOR JANUARY-SEPTEMBER 2021
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Evolution released today its Interim Report for January-September 2021.

Third quarter of 2021 (Q3 2020)

  • Operating revenues increased by 97% to EUR 276.0 million (140.0)
  • EBITDA increased by 113% to EUR 192.9 million (90.7), corresponding to a margin of 69.9% (64.8)
  • Profit for the period amounted to EUR 157.4 million (79.4)
  • Earnings per share amounted to EUR 0.73 (0.44)

January-September 2021 (9M 2020)

  • Operating revenues increased by 100% to EUR 768.5 million (383.5)
  • EBITDA increased by 124% to EUR 527.7 million (236.0), corresponding to a margin of 68.7% (61.5)
  • Profit for the period amounted to EUR 433.9 million (204.0)
  • Earnings per share amounted to EUR 2.03 (1.12)

Events during the third quarter of 2021

  • High demand for Live Casino generates a +53% growth YoY
  • RNG revenue growth 7.9% compared to pro-forma Q3 2020
  • Continued expansion in the US with opening of a new live casino studio in Michigan. After the end of the period launch of RNG-games in Connecticut with live games to follow.

Summary of the third quarter and the first nine months of 2021

 

Financial table with Evolution results for January-September 2021

 

CEO’s comments

The third quarter this year has been another quarter of extremely high activity within Evolution. The expansion of our business at the current speed is simply put – hard work – and I want to start these comments by thanking everyone in Evolution for great work during this period, without your effort and commitment the achieved financial results would not be possible.

The result for the third quarter 2021 has once again proven that our strategy to focus on the entertainment of the end-users and seamless and flawless experience is successful. Revenues in the third quarter increased by 97 percent to EUR 276 million, while the EBITDA increased to EUR 192.9 million. The EBITDA corresponds to a margin of 69.9 percent, exceeding our guidance for 2021.

Top-line growth is driven by very strong global demand for Live Casino but also impacted positively from our increased RNG business. Live Casino revenue growth was 53.2 percent compared to Q3 2020, which is higher than the pre-pandemic growth rate levels, showing that many of our newer players are staying in the network. RNG growth was 7.9 percent compared to pro-forma figures of Q3 2020 for NetEnt and BTG. Big Time Gaming, which was fully consolidated into our results in the third quarter, contributed with EUR 10.6 million in revenue. BTG stand-alone is growing at a rate of over 30 percent in the quarter, compared to their corresponding quarter in 2020. Our NetEnt and Red Tiger brands show growth of about 3 percent compared to the same quarter 2020 and while this development is in line with our expectations, our ambition for our NetEnt and Red Tiger brands is to deliver stronger growth moving into 2022.

As I have mentioned earlier this year, we are in the process of reshaping our RNG business. This year we have both re-structured the product roadmap and also re-built the complete technical platform for NetEnt. We are right now rolling out our updated integration for casino, One Stop Shop (OSS), towards customers which enables operators to reach all our existing content from one single integration and ensures that access to future Evolution content will go seamless and fast world-wide. This is a major step for both us and our customers but even more so for all our end users who will get more fantastic Evolution content. One side effect of this total technical make-over has been fewer new game releases in 2021.

As always, we continue to develop our portfolio of games. While our game shows, including successful wheel based games such as Monopoly Live and Crazy Time, continue to attract players, we continue to broaden the audience for the game show category. Our new bouncing ball game – Cash or Crash – adds strategic and decision-making features in a game show style game. This game is all about player choice and the ability for the player to control the outcome. We also launched Fan Tan – a fresh twist on the beautiful traditional Asian bead game.

Besides adding new unique games, it’s absolutely crucial to constantly enhance the end-user experience and entertainment value through enhanced and innovative user interfaces. Reduce all small bottlenecks and make it seamless. During the quarter, we launched an improved user interface to our traditional Blackjack game, through a new zooming feature in portrait mode. This clearly improves the gaming experience further.

The aim with all our offerings is to excite and entertain players with the best possible choice of world-class gaming. We are committed to creating the most immersive and exciting gaming experiences available.

The North American online casino market continues to develop rapidly in both US and Canada. In Michigan, where we introduced our portfolio of NetEnt games in the beginning of the year, we launched our live casino in the beginning of the quarter. The studio is off to a very good start and this best-in-class offering is yet another enabler of growth in the US market. After the end of the period we were first to the market with our slot games in Connecticut. We expect Live games to follow soon, Connecticut will be the 4th studio we operate in the US. Also after the end of the period we launched our live and RNG games with the Ontario Lottery and Gaming Corporation, it will be the 4th province in Canada to go live from our Canadian studio.

Ongoing studio projects include new studios in Madrid and Yerevan. This quarter, a lot of business focus has been centred around investing and establishing new studios. As always, expansion potential lies in existing markets, as well as new geographies and we will, as a natural part of our business, continue to expand and invest in existing studios both in North America and other regions at the same level as earlier.

Also, during the past quarter, we signed an agreement to acquire DigiWheel in an all-cash deal. DigiWheel’s technology is exciting, innovative and unique and will be blended into our online Live Casino games and game shows. The ambition is to launch new games in 2022 using this technology.

As stated, our ambition is to continue to strengthen our leading position in the online casino market. One of the corner stones which allows us to increase the gap to our competitors even further is through product innovation. In February, as things are getting back to normal, it is once again time for ICE in London. I am already now very excited about presenting our 2022 road-map.

We are now well on our way into an exciting and very hectic last quarter and we have had strong start to the fourth quarter so far. New games to release, new studios to build, OSS to be rolled out and great new Evolutioneers to recruit at the same time as all of us already here need to focus hard on what we can do better, what we can do to make Evolution a little bit better every day.

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Swipe – Multiply Your Winnings By 25.000!

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Swipe – Multiply Your Winnings By 25.000!
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For every mobile games enjoyer, this a perfect game – Swipe, an atypical casino game developed by Expanse Studios, young and aspiring casino studio, comes with very simple rules. It will appeal to all players who like unconventional games, with a touch of adrenaline, but lots and lots of fun!

The goal of the game is to make a perfect combination of numbers that will correspond to randomly selected digits of the game – the closer you get to it, the more money you win! The payout ratios are from 1 all the way up to 25,000! The coefficient grows with a larger number of matching numbers, of course, and reaches its maximum if you hit all the digits of a randomly selected number.

Win a Progressive Jackpot!

When you open Swipe, you will notice two windows with six numbers each. The first contains a RNG number and the second is reserved for the player who, dragging from top to bottom, puts together their combination, matching the first combination as much as possible.

If you match five digits, your bet is multiplied by 1,000, and if you hit all six numbers, the payout is multiplied by 25,000! The game is quite dynamic, the outcome is known after only a few seconds – ideal for fast game fans.

All this is worthless without a jackpot, is it? Swipe is the home of a progressive jackpot, the value of which grows with each try – if you are not lucky enough to put together the perfect combination, you may be lucky with the jackpot. All you need is perseverance, place your bets on lucky combinations of numbers and the win must come.

Exclusive bonuses are an unavoidable thing that adorns Swipe, because you will rarely have the opportunity to meet a game that offers you a payout 25,000 more than the stakes!

Enjoy this mobile game, combine the numbers and be the next winner!

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Pascal Gaming enriches its portfolio with a new bet-on game, “Catch Me”

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Pascal Gaming enriches its portfolio with a new bet-on game, “Catch Me”
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Pascal Gaming constantly follows the idea of making the player experience unique and takes all the necessary measures to provide them with reliable and quality games. “Catch Me” comes to join the bet-on game line of Pascal Gaming, thus adding one more fun game to players’ favourite list.

The initial goal was to create a simplistic yet compelling game with impeccable characters and a catchy interface that will boost players’ activity. “Catch Me” with its 3 impeccable piggies and wolves presents a rich assortment of features, which include multi-betting possibility up to 3 bets at a time, unlimited multipliers, and provable fairness calculator. The game is available in various languages and is fully supported on both desktop and mobile gadgets.

The rules are quite simple: players place their bets and simply need to catch high coefficients until piggies get caught by the wolves. Implementing the theme of the famous fairytale, Pascal Gaming helps players go back in time and meet their favourite characters and experience unique emotions again.

 

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Baltics

Real Betis and Olybet sign a partnership deal

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Real Betis and Olybet sign a partnership deal
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Real Betis Balompié have signed a partnership agreement with the sports betting brand Olybet for the Baltic region.

Ramón Alarcón, general business manager at Real Betis, showed his satisfaction about the deal: “Partnering with Olybet, the top sports betting brand in the region, provides a larger scale of digital platforms to engage fans and players and develop professional football as a great sports show.”

“Congratulations to the winners of the Copa del Rey trophy! Real Betis is a great team with a long history and ambitions for future,” said the chairman and CEO of Olympic Entertainment Group and OlyBet Group, Corey Plummer and added that their customers will now receive more opportunities to engage with the football club via live broadcasts and games, local events, social media and the best betting experiences in Europe.

OlyBet has been recognised as the leading market player in the Baltic states for a long time and has positioned itself strongly throughout Europe during the last few years. According to Plummer, OlyBet’s recent partnerships with international sports brands, Real Betis, NBA, NHL, AC Fiorentina and sportsman Luka Modri?, have laid a solid foundation for OlyBet’s brand positioning and growth in Europe.

Plummer added that OlyBet and OlyBet TV, offer a new form of participation for sports fans. The overall idea is to combine sports entertainment and news via OlyBet TV platform. Fans in European countries with OlyBet’s presence have the possibility to partake through the betting environment of the OlyBet sports portal. OlyBet Club provides loyal customers the possibility to attend major sports events, meeting and encouraging professional players at home stadiums and joining exclusive entertainment experiences.

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