Evolution Gaming Interim Report Jan-Mar 2019 – European Gaming Industry News
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Evolution Gaming Interim Report Jan-Mar 2019

George Miller

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Evolution Gaming - INTERIM REPORT FOR JANUARY-MARCH 2020
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Evolution released its Interim Report for January-March 2019.

First quarter of 2019 (Q1 2018)

  • Operating revenues increased by 54% to EUR 79.3 million (51.6)
  • EBITDA increased by 64% to EUR 35.9 million (22.0), corresponding to a margin of 45.3% (42.6)
  • Profit for the period amounted to EUR 28.6 million (16.5)
  • Earnings per share amounted to EUR 0.79 (0.46)

Events during the first quarter of 2019

  • Good leverage from investments made in 2018
  • Roll-out initiated of several new games including MONOPOLY Live
  • Several new customers live – DraftKings (USA), Lotoquebec (Canada), Svenska Spel and ATG (Sweden)

Summary of the first quarter

Summary of First Quarter Jan-Mar 2019

Comments from CEO Martin Carlesund:

Evolution has been off to a strong start in 2019, both in terms of growth and profitability. Revenues in the first quarter amounted to EUR 79.3 million, corresponding to an increase of 54 percent compared to the first quarter of 2018. EBITDA amounted to EUR 35.9 million with a margin of 45.3 percent. With a favourable start to the year and with high confidence in the upcoming product launches, we currently see good conditions to finish in the upper end of the previously communicated range of 44-46 percent EBITDA margin for the 2019 full year.

An important explanation to the development is that we now can leverage from the investments made in 2018. Throughout last year, we expanded studio space as well as customer environments and the number of tables in line with the increasing demand from our customers, and we can now see how all of this pays off. It is our assessment that Live Casino as a product vertical will continue to take market shares in 2019 and why we consequently will continue to invest based on our customers’ demands in our studios also going forward. A demand driver is the fact that we are broadening the Live vertical with new products that appeal to completely new end users. In that way we can address a considerably larger part of the total online casino market.

As highlighted already in the year-end report, we showcased 10 new games at ICE in London in February. This equals not only a record-amount of game launches in one single year, but also the addition of entirely new game categories. It is important to note that the new games haven’t had any extensive effect on the quarterly growth, as the roll-out has just begun – it will take time before all the games are available for the end users, and it will then take time for end users to discover the games. However, already now we can establish that one of the main attractions – MONOPOLY Live – has been off to a historically strong start both in terms of player counts and gaming revenues. We are immensely proud of this launch, which we believe redefines the essence of Live Casino entertainment. The unique mix of Live Casino and RNG with augmented reality technology provides something completely new in the market. On a similar theme, we will soon launch our unique live game show Deal or No Deal Live. Both these titles prove how we to a larger extent are focusing on more entertainment for the player, and we are well under way to create a whole new product vertical in our game lobby that we refer to as Game Shows. Through this, we expand to a much broader group of end users and consolidate Evolution’s position as the leading innovator in the gaming industry. That we have been given the opportunity to work with world-famous brands such as MONOPOLY and Deal or No Deal provides even more power in our efforts.

Besides developing brand-new game types, we also continue to innovate our core – the classic table games. This year we look forward to the launches of Free Bet Blackjack, which is the most popular variety of Blackjack at land-based casinos, and our new poker game Side Bet City. We will also expand into dice games with Lightning Dice, building on the success of Lightning Roulette, as well as our take on Sic Bo – Live Super Sic Bo. This means that while we, through the above-mentioned game shows, can reach new end users, we also strengthen our leading offering that appeals to traditional Live players.

The market development in the quarter has been good, not least underpinned by increasing regulation. During the quarter, we went live with customers such as DraftKings in the US, Lotoquebec in Canada, and Svenska Spel and ATG in Sweden. We can establish that the share of Live Casino increases among the operators in more or less every newly regulated or re-regulated market.

With hard and focused work and high energy throughout 2018 and in the first quarter of 2019, we have taken our product portfolio to a whole new level, broadened our own market and created a new market for the industry, which in our perspective makes the gap between ourselves and the competitors wider than ever. Our launch pipeline has never been as strong as it is now. Hence, it is my absolute opinion that we have solid opportunities to further extend the distance to the competitors and strengthen our leading position during the remainder of the year.

Presentation for investors, analysts and the media

CEO Martin Carlesund and CFO Jacob Kaplan will present the report and answer questions on Thursday, 25 April 2019 at 09:00 a.m. CET via a telephone conference. The presentation will be in English and can also be followed online. Number for participation by telephone: +46 8 5055 8355 / +44 3333 009 267. Follow the presentation at https://tv.streamfabriken.com/evolution-gaming-group-q1-2019.

 

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Vermantia Signs Content Deal with Caspian Tech

Niji Narayan

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Vermantia Signs Content Deal with Caspian Tech
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Vermantia, a leader in omni-channel content solutions, has extended its partnership with Azerbaijan’s state-licensed operator, Topaz.

The deal sees Caspian Tech provided with premium live racing betting content from the supplier’s market-leading Ultimate Live Greyhound Channel via its integration into the Vermantia CONNECT platform. On Caspian Tech’s behalf, Vermantia will set-up, and operate the bespoke satellite channel across its 500-strong Topaz branded shop estate.

“Caspian Tech represents a very important partner for us and I would like nothing more than to see us expanding our collaboration together. Topaz customers are now able to enjoy top quality live racing content, complete with high-definition pictures, a powerful bet acceptance system and a full data service,” Spyros Stavropoulos, Commercial Director at Vermantia, said.

“CONNECT has proven to be a game-changer in other markets already, combining the highest picture quality with genuine low-latency in a cost-effective solution that allows the operator to choose exactly what content they need,” Spyros Stavropoulos added.

“Our partnership with Vermantia meets both our quest for a trusted partner with an international content distribution experience and our goal to offer fast-paced and exciting betting products to our customers,” Mustafa Onder, Deputy Technical Director at Caspian Tech, said.

“We are very excited to be launching an upgraded service which we believe will prove to be an immediate hit, and no doubt enhance our retail offering with exciting action-packed betting opportunities,” Mustafa Onder added.

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Dutch Online Gaming Launch Delayed Once Again

Niji Narayan

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Dutch Online Gaming Launch Delayed Once Again
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The Dutch Remote Gambling Act (KOA) has been delayed yet again, with Minister for Legal Protection Sander Dekker pushing the date the law comes into effect back to 1 April 2021, and the date the market opens back to 1 October.

Responding to a series of questions from legislators, Dekker announced that the latest delay was necessary as the Government had realised a slower implementation of the laws may create a stronger environment of regulation.

“Earlier I informed you that we are aiming for entry into force on 1 March 2021. Although the implementation is proceeding energetically, it has now become clear to all involved that careful implementation takes a little more time,” Dekker said.

“For this reason, we shall postpone the entry into force of the Koa Act by one month until 1 April, 2021, so that De Kansspelautoriteit (KSA) and the gambling sector have sufficient opportunity for complete preparation. The opening of the market will then take place on 1 October 2021,” Dekker added.

Initially, KOA was scheduled to enter into law on 1 July 2020, with the market to open six months later at the start of 2021. However, in November 2019, the act’s start date was pushed back six months, meaning the market would open on 1 July 2021.

In September 2020, the launch was pushed back again, with the date the act was set to come into effect moved to 1 March 2021, after preparations to launch had been disrupted by the novel coronavirus (Covid-19) pandemic.

The latest delay is the third, and means the law is now set to come into force nine months later than originally planned.

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Black Spins Relaunches on 888 Network

Niji Narayan

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Black Spins Relaunches on 888 Network
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Casy Digital has completed the migration of their Black Spins site from the Nektan network to the 888 casino network.

Migrating to another network is not uncommon in the case of online casinos. However, Black Spins is different in the sense that they will not be accepting players from the UK, unlike all the other casino sites on the 888 casino network. This certainly does seem to indicate a potential change of focus for this particular network as they seek to reduce reliance on the UK market.

“In teaming up with 888, not only do we have a quality platform and gaming option, we are also with a company who is committed to excellence and share our vision for growing in key markets outside of the UK,” Tommy Dawson, CEO of Casy Digital, said.

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