Friday August 28,2015 : REVENUES AND PROFITS WELL UP AT LIVE DEALER PROVIDER
Evolution enjoys a robust second quarter.
Live dealer technology and content provider Evolution Gaming published its Q2-2015 results Thursday, highlighting the following financial progress:
* Revenues up by 55 percent to Euro 17.9 million (Q2-2014: Euro 11.5 million);
* Profit for the period up at Euro 5.9 million (Q2-2014: Euro 2.9 million);
* Earnings per share up at Euro cents 16 (0.08);
* Adjusted EBITDA up 89 percent to Euro 7.7 million (4.1), corresponding to a margin of 43 percent (35);
Events during the second quarter of 2015 were:
* Mobile growth in excess of 250 percent year-on-year;
* On-premise studio in Belgium with the majority of the country’s online casinos as customers;
* Secured rights to games and side bets from Games Marketing;
Events following the balance sheet date included a content agreement with Genting Alderney, and live casinos launched for Adjarabet and Marathonbet:
Jens von Bahr, CEO of the company, said the business was experiencing strong growth, particularly among mobile users.
"In the second quarter, 24 percent of the operators’ gaming revenues via the Evolution platform were generated by mobile devices compared to 11 percent last year. In absolute numbers the increase was more than 250 percent, still without cannibalising other platforms." he said.
One of the most important company achievements in the quarter was the agreement with Casino de Spa in Belgium, where Evolution has built a local studio in accordance with the country’s new gaming regulations.
"We currently have six customers who via land-based casinos hold online casino licences from the Belgian Gaming Commission, giving us a virtual monopoly position in the market," von Bahr revealed. "In addition, we have a large number of customers who hold licences to operate online gaming arcades."
Giving an update on current trading, von Bahr said that a partnership agreement had been signed with the online division of land gambling giant Genting, presenting good future prospects for the company.
With the traditionally quiet third quarter of summer now well advanced, there are signs that business is improving, and Evolution is strongly positioned to take advantage of this by focusing on product range, operational quality and concentrating on regulated markets, he said.