In terms of growth and profits, Evolution Gaming is clearly on the right path since kicking off 2019. Indeed, the company’s revenue more than doubled since Q1 2018. Now, this doesn’t mean Evolution had a bad year. In fact, it’s quite the opposite. The truth is, they actually had a great year but invested a lot toward expanding the company’s studio space. So now that’s all out of the way, they can better leverage last year’s upgrades.
As we pointed out above, Evolution more than doubled their revenue to £67.4 Million. Now, that’s pretty impressive considering those figures represent a 54% increase YoY. Also, the company’s EBITDA amounted to £30.5 Million with a profit margin of 45.3%. According to Evolution’s CEO Martin Carlesund, “With high confidence in the upcoming product launches, we currently see good conditions to finish in the upper-end range of 44-46% EBITDA margin for 2019.”
Going forward, he pointed out that the company plans to invest more in growing the Live Casino vertical with new products that appeal to completely new users. The end goal is to finally be able to address a much larger portion of the total online casino market. So as you can see, Evolution is in full throttle these days, and they’re not showing any signs of slowing down either.
In addition to huge revenue gains, the company also saw a major increase in profit. That’s right, Evolution’s profits rose 73% from £14 Million to £24.2 Million in just one year. Now if that’s not impressive, then we don’t know what is. Looking ahead, Carlesund said the company is already in motion to develop a brand new casino game vertical referred to as Game Shows. With also the success of Monopoly and Deal or No Deal Live, it’s clearly the main focus of investment right now. Considering that, it should be exciting to see how far Evolution will take it this year. As you can see they’re already off to a good start.