Evolution Gaming Reports 60% Sales Increase in Q1 2017

Evolution Gaming, the world leader in video-streamed Live Dealer gaming published its financial report for the first quarter of the current fiscal year.

The Chief Executive Officer of Evolution Gaming Martin Carlesund commented on the company’s performance, saying that the strong momentum it had managed to gain towards the end of 2016 continued in 2017, too. Mr. Carlesund explained that Evolution Gaming had a particularly strong performance in January and February, when the company’s customers were quite active.

The company’s boss also commented that traditionally, there was favourable activity at the beginning of every year, and 2017 made no exception. He revealed that the delivered growth was generated by the already existing customers, and the new customers first focused on customising their offer in a way that would result in attracting more players to their Live Casino portfolio.

As revealed by the company, its operating revenues marked a steady increase of 60%, reaching €39.7 million in comparison to the €24.8 million generated over the corresponding quarter a year earlier. Evolution Gaming also reported that there was also an increase in its EBITDA (earnings before interest, taxes, depreciation and amortisation), which rose by 65% to €17.0 million, with a 43% margin. In comparison, the EBITDA registered by the company in the first fiscal quarter of 2016 amounted to €10.3 million, with the reported margin reaching 42%.

Evolution Gaming reported a first-quarter profit of €12.7 million, with the numbers rising in comparison to the profit generated over the first three months of 2016, when the company reported a €7.6 million profit.

The fiscal report of Evolution Gaming also provided information about the major events which pushed the company’s performance up over the first quarter of the current fiscal year. The company highlighted the partnership agreements it managed to ink over the three-month period, and especially the one reached with the Spanish gaming operator Codere, which provided it with the opportunity to expand its reach on the territory of Mexico.

Three other collaboration deals reached by the company also stood out. The first three months of 2017 were marked by new agreements with White Hat Gaming, mybet and Matchbook.

As the Chief Executive Officer of Evolution Gaming shared, there was another important event for the Live Dealer games provider after the balance sheet date, which is expected to have a positive impact on the company’s performance over the upcoming months and quarters. Evolution Gaming managed to set foot in the Canadian market thanks to a partnership agreement with British Columbia Lottery Corporation. Under the deal, the company is to provide its Live Casino solutions and services in Canada, reaching more players.

On the other hand, the partnership agreements were not the only highlighted events over the first fiscal quarter. Evolution Gaming also explained that the massive growth in its sales was boosted by the overall high demand for Live Casino games among the company’s customers.

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