Live dealer casino specialists Evolution Gaming nearly doubled their profit in 2017 thanks to “intense” expansion, new products and a downright obscene earnings margin.
Figures released Thursday by the Stockholm-based Evolution show the company generated revenue of €50.7m in the three months ending December 31, 2017, up 48% from the same period one year earlier. Earnings jumped 74% to €22.6m as margins improved nearly seven points to 44.6% while profit spiked 99% to €18m.
For the year as a whole, revenue was up 54% to €178.4m, earnings jumped 81% to €80.6m (on a 45.2% margin) and profit rose 96% to just under €66.9m.
Evolution CEO Martin Carlesund did his best to restrain the superlatives after “an exceptional year in many ways,” while assuring investors that the company wasn’t taking its success for granted and would continue to work its butt off to ensure the good times keep rolling.