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Evolution Gaming: Interim report January-June 2019

George Miller

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Evolution Gaming: Interim report January-June 2019
Reading Time: 3 minutes

 

Evolution released today its Interim Report for January-June 2019.

 

Second quarter of 2019 (Q2 2018)

  • Operating revenues increased by 45% to EUR 85.7 million (59.3)
  • EBITDA increased by 63% to EUR 42.7 million (26.2), corresponding to a margin of 49.8% (44.2)
  • Profit for the period amounted to EUR 34.5 million (20.1)
  • Earnings per share amounted to EUR 0.19 (0.11)

January-June 2019 (1H 2018)

  • Operating revenues increased by 49% to EUR 165.0 million (110.8)
  • EBITDA increased by 63% to EUR 78.6 million (48.1), corresponding to a margin of 47.7% (43.4)
  • Profit for the period amounted to EUR 63.1 million (36.7)
  • Earnings per share amounted to EUR 0.35 (0.20)

Comments from CEO Martin Carlesund:

“Evolution’s strong development continues, and we can report continued high growth and further improved margin in the second quarter. 2019 is a year of product and innovation, and during the period, we have launched all this year’s new games. The response has been instant, and we are overwhelmed by the positive reception among both players and operators. Our aim in the development has been to create games that attract new player types and to expand the Live vertical into new segments, and so far, we are very happy with the outcome. All games, from the new titles within the Game Show category to the dice games, find their audiences and we see a significant increase in the number of players. The new games are not as staff intensive as the traditional table games, which in combination with a generally high efficiency in all studios contribute to the margin development. The extended portfolio also contributes to the revenue growth, but it is important to note that most of our revenues continue to derive from our core games and that the new games are still in an early stage post-launch. However, all new titles contribute to a generally higher interest in Live Casino and we believe that the Live vertical will continue to grow its share of the total online casino market. When the Live vertical grows, we take market shares – as do our customers with access to the new games.

Revenues amounted to EUR 85.7 million, which is 45 percent higher than the corresponding quarter last year. EBITDA amounted to EUR 42.7 million with a margin of 49.8 percent, which is the highest margin recorded so far in a single quarter. In the first half of the year, the margin was 47.7 percent, and we expect to be able to sustain this level in the second half as well which is why we increase our expected margin range to 47-49 percent for the 2019 full year.

The positive market development continues. The Nordics are growing, however at a somewhat slower pace as the Swedish market now is normalising following the intense start to the year as a result of the new gaming legislation. The UK continues to stabilise and is growing compared to the corresponding quarter last year. Both Rest of Europe and Rest of World also exhibit favourable growth.

Going forward, we will continue to invest in the development of both additional game shows and other innovative product types, as well as table games to meet the overall demand for Live. We also continue to invest in our studios. During the quarter, we have transferred the first tables to the new Malta studio, while also expanding the studio in Georgia. In addition, we have initiated a doubling of the capacity in New Jersey. We will also strengthen our presence in the US further and have started the planning for the construction of a studio in Pennsylvania. All in all, investments for the 2019 full year in absolute numbers will be somewhat higher than in 2018. It is imperative for us to meet the demand for Live, to continue to enable innovation within the company and to constantly increase the gap to competition. Connected to this, it is important to remember that in a case where we must prioritise, we will always put growth before margins.

During the first half of the year, we have laid the foundation for Evolution’s continued leadership in Live Casino. A proof of this was when we received the award as Live Casino Supplier of the Year for the tenth consecutive year at the EGR B2B Awards in June. The award goes straight to all our employees. I am immensely proud of everyone’s achievements so far this year, and the innovation power they possess creates confidence for the future.

Since Evolution’s inception, we have had a paranoid approach to our development, and given all achievements so far in 2019 I would like to conclude these comments by pointing out that we are never fully satisfied, we never sit back and each day, we fight to become a little bit better.”

 

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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NOVOMATIC Appoints Robert van Roosendaal as its Key Account Director

Niji Narayan

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NOVOMATIC Appoints Robert van Roosendaal as its Key Account Director
Reading Time: 1 minute

 

NOVOMATIC has appointed Robert van Roosendaal as its Key Account Director for Germany, BENELUX, Iceland, Portugal and France. Robert van Roosendaal is a gaming industry expert with many years of sales experience.

Robert van Roosendaal is now responsible for the distribution of the complete portfolio of casino products in Germany, Iceland, Portugal, the BENELUX countries and France. He reports into Jens Einhaus, VP International Sales, Europe and The Americas.

“With Robert van Roosendaal we have been able to assign this key position – especially in the German and French casino markets – to an expert with extensive sales experience as well as excellent market and product knowledge,” Jens Einhaus said.

Robert van Roosendaal joined NOVOMATIC AG in 2016. After a number of sales-related projects, he was most recently Senior Manager Global Sales for Emerging Markets. Prior to joining NOVOMATIC, he held senior sales positions with renowned manufacturers in the casino industry.

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Central Europe

STS Scores 2 Nominations for 2019 SBC Awards

Niji Narayan

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STS Scores 2 Nominations for 2019 SBC Awards
Reading Time: 1 minute

 

Star-Typ Sport (STS), the leader of the bookmaking market in Poland, has secured two nominations for the 2019 SBC Awards. The two nominations are for the categories “Sportsbook of the Year” and “Omni-channel Operator of the Year” (Sports and Casino).

SBC Awards are recognition of the achievements of operators and affiliates, as well as suppliers from all major categories, including payments, marketing, platform and data providers.

The award ceremony will take place on December 3 at Battersea Evolution in London.

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Industry News

Betsson Sells its Stake in Global Gaming

Niji Narayan

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Betsson Sells its Stake in Global Gaming
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Betsson AB has sold its entire stake in Global Gaming 555 because of the latter firm’s ongoing struggles in Sweden’s regulated market. The sale was reportedly done sometime in July, mere weeks after Betsson was revealed to have equally quietly acquired 726k shares (1.8%) of Global Gaming.

Betsson’s shares are up 4%, while Global Gaming’s shares tumbled 9.3%. Global Gaming’s share price is now less than one-fifth of what it was at the start of the year, reflecting the turmoil the company has endured in its biggest market.

In June, Sweden’s Spelinspektionen revoked Global Gaming’s online license due to alleged anti-money laundering and social responsibility shortcomings at the company’s Ninja Casino brand. The company’s efforts to appeal the revocation were rejected by Swedish courts.

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