Evolution Gaming starts 2017 on a profitable roll

Live dealer online casino specialist Evolution Gaming says it started 2017 off at the same accelerated pace with which the company closed out 2016.

In a Q1 trading update issued on Thursday, Evolution reported revenue of €39.7m and earnings of €17m in the three months ending March 31, representing year-on-year gains of 60% and 66%, respectively, while profit rose 67% to €12.7m. Evolution says the quarter enjoyed “generally high player volumes among all types of customers, both small and large well-established operators.”

Evolution has undergone significant growth since Q1 2016, a fact underscored by its payroll rising to 3,780 employees from 2,128 a year ago. Accordingly, operating expenses shot up 56% to €25.7m, but the company’s earnings margin still improved one point to 43%.

Evolution CEO Martin Carlesund credited the continued success to the addition of several new customers in Q1, including myBet, Matchbook, White Hat Gaming and Codere, the latter deal marking the company’s entry into the Mexican market. Meanwhile, many of Evolution’s existing customers launched new environments and added additional tables, and the company’s new poker products – including Three Card Poker and Ultimate Texas Hold’em – are proving a hit with these clients’ end users.