Internationally recognized Live Casino supplier Evolution Gaming today posted its financial results for the quarter ended June 30, 2016. Quarterly revenue totaled €27.1 million, up 50% year-on year.
The considerable revenue growth was attributed to an increased commission income from Evolution Gaming’s existing clients and partly from newly signed ones. The company also said that the substantial rise was also, to a certain extent, due to a growth in revenue from dedicated Live Casino tables and environments, which resulted in more customers demanding such services.
Profit for the reviewed period amounted to €7.6 million, up from the amount of €5.9 million generated during the same quarter of the previous year. Adjusted EBITDA was up 38% year-on-year to reach €10.6 million. Adjusted EBITDA margin stood at 39% compared to adjusted EBITDA margin of 42% for the prior-year period. Mobile penetration during the reported three months stood at 40%, up from 24% posted for the second quarter of 2015.
During the period in review, Evolution Gaming registered what the company itself called an “exceptional growth” in newly launched tables and Live Casino environments. An important highlight during the quarter was the company’s Live Casino Supplier of the Year award received at the annual eGR B2B Awards. Evolution Gaming has been titled the best live casino provider for the seventh consecutive year. The company was established in 2006 and celebrated its tenth anniversary during this year’s second quarter.
Evolution Gaming had two major product launches over the three months ended June 30. First, it rolled out its brand new game Double Ball Roulette. Next, it launched the highly anticipated mobile version of its Live Three Card Poker game. The mobile product went live with more than 50 Evolution Gaming clients during the quarter. With that said, the company’s full portfolio of product offering is now available on both desktop and mobile.
The Live Casino supplier also reported its financial results for the first half of the year ended June 30, 2016. Revenue totaled €51.9 million, up 54% from the amount of €33.7 million posted for the prior-year period.
Operating profit increased from €11.3 million in the first half of 2015 to €16.6 million generated during the same six months of this year. Operating margin stood at 32% compared to 33% posted last year. Adjusted EBITDA amounted to €20.9 million, compared to adjusted EBITDA of €13.8 million reported for the first half of 2015. Adjusted EBITDA margin for the reviewed period stood at 40.3%. Adjusted EBITDA margin of 41% was reported for the corresponding six months of 2015.
Evolution Gaming CEO Jens von Bahr commented that they expect continued high demand for their products for the remainder of the year and that they will remain focused on delivering the best Live Casino offering.
