Evolution Gaming, supplier of Live Casino and other gaming solutions, posted information about its financial performance during the three-month period ended March 31, 2015. The company generated revenue of €15.4 million, up 43% compared to the first quarter of 2014.
The considerable growth was mainly attributed to the increase in commission income from the supplier’s existing customers. Furthermore, new customers demanded the company’s Live Casino solutions, which, too, resulted in higher revenue.
Adjusted EBITDA increased 95% to €6.2 million, compared to €3.2 million reported for the three-month period ended March 31, 2014. Adjusted EBITDA margin was 39.9% in the first quarter of this calendar year.
Adjusted operating profit amounted to almost €5 million, up 117% year-on-year. Adjusted operating margin was 32% during the reported period.
Adjusted profit totaled €4.6 million compared to €2.1 million posted a year ago. Adjusted profit margin was 29.6% during the first quarter of 2015.
Back in January, Evolution Gaming completed its reorganization, as well as the establishment of its new parent company – Evolution Gaming Group AB, as part of the preparations for its listing on NASDAQ First North Premier in Stockholm. The company was successfully listed on the stock exchange in March.
As mentioned above, Evolution Gaming attributed the growth in revenue and profits to the high demand for its Evolution platform. The company introduced new games and enhanced its mobile gaming segment. During the reported period, 20% of the revenues generated by Evolution Gaming’s customers came from mobile devices.
Apart from its existing customers, the supplier managed to attract new ones as well. In March, PokerStars, one of the world’s biggest online card rooms, went live with the Evolution platform in studios in Malta and Latvia.
PokerStars also became the first licensee to go live with the company’s Immersive Lite, an HD multi-camera studio installation, which was launched at this year’s ICE Totally Gaming. Several other operators have also expressed interest in Evolution Gaming’s new product.
On March 25, the gaming supplier was awarded a permanent license by the UK Gambling Commission for the provision of its services on the territory of the country.
Jens von Bahr, Chief Executive Officer of Evolution Gaming, said that the company will keep on working “with a clear focus on growth.” He also pointed out that Live Casino has never been offered better conditions as it is now. According to Mr. Bahr, technological developments, the launch of new games and channels, and gaming operators expressing interest in Evolution Gaming’s products would contribute to the supplier’s further growth.
