Evolution CEO: “We want to re-shape the online casino market in the world”

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volution released Wednesday its Interim Report for January-June 2021. Revenues in the second quarter increased by 100% compared to the second quarter of 2020 to EUR 256.7 million. Over the first half of 2021, operating revenues increased by 102%.

EBITDA grew 115% to EUR 174.7 million, corresponding to a margin of 68 percent.

“We are in the middle of reshaping our RNG road map and revenues in the RNG business increased slightly from the first quarter this year but declined by 2 percent compared to Q220. I expect the year-on-year RNG-growth to improve in the coming quarters this year,” CEO Martin Carlesund commented. He said “strong demand” contributed to the earnings margin development in the second quarter.

“In the quarter we have for example made a revolutionizing new version of our Baccarat game which we hope will be the new way of playing Baccarat all over the world. Also the Game Show category will see new titles during the second half of this year. We are developing the category with games that engage the players with more entertainment and more control for the player. We believe this is a way to broaden the category even further to yet new types of players,” the CEO stated.

“We continue to see increased demand for online casino globally. Our products are global, and our long-term ambition is to be the global market leader. We want to re-shape the Online Casino market in the world. It is that simple. The expansion potential lies in both existing geographies and in new markets. This quarter we have expanded in the UK through an agreement with the gaming operator Entain for online games on the Ladbrokes, Coral and Gala platforms. In the US new markets open up state by state. Our Michigan studio is approved and ready for launch, it will be the 3rd studio we operate in the US,” Carlesund said.

He noted the company has high demand on expansion and that it will continue to invest both in existing studios as well as new studios both in North America as well as in Europe. During 2021, it will add two new delivery hubs in Europe. “Coming into 2022 we see expansion and investment in studios continuing in current locations but also in new markets like Latin America,” he added.