Investment in games has worked out as planned for live casino developer Evolution Gaming, with the company announcing increased operating revenues in line with expectations during the first quarter of the year.
The Stockholm-listed company’s operating revenues grew by 30 per cent to €51.6m between January and March 2018. EBITDA was up by 29 per cent to €22m, corresponding to a margin of 42.6 per cent, with profit for the period at €16.5m.
Seven new products were launched at ICE in February and the announcement of the results coincides with the completion of a new production hub in Tbilisi, Georgia, catering for the continued high demand for live casino both in Europe and globally.
Evolution Gaming CEO Martin Carlesund said: “Overall, the first quarter of 2018 has been characterised by growth and profitability in line with our expectations, considering the ongoing investments in both new studios and games. We noted a clearly stronger performance at the end of the period, with good growth and earnings, compared with the beginning of the period.
“In terms of the general market development, we observe continued high demand for live casino both on the European level as well as globally. We are seeing a notably higher interest in the Asian markets among European licensed operators, which is positive and will become another growth driver going forward.”
