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Evolution Publishes Interim Report for the Third Quarter of 2023

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Evolution has published its interim report for the third quarter of 2023.

Highlights

Third Quarter of 2023

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  • Operating revenues increased by 19.6% to EUR 452.6 million (378.5)
  • EBITDA increased by 22.1% to EUR 318.6 million (261.0), corresponding to a margin of 70.4% (69.0)
  • Profit for the period amounted to EUR 272.8 million (221.3)
  • Earnings per share amounted to EUR 1.28 (1.04)

January-September 2023

  • Operating revenues increased by 26.1% to EUR 1,323.3 million (1049.3)
  • EBITDA increased by 27.6% to EUR 930.5 million (728.9), corresponding to a margin of 70.3% (69.5)
  • Profit for the period amounted to EUR 788.0 million (619.9)
  • Earnings per share amounted to EUR 3.69 (2.91)

CEO Comments:

“In the third quarter, Evolution reports revenue of EUR 452.6 million and EBITDA amounting to EUR 318.6 million, corresponding to almost 20 percent top-line growth and 70.4 percent EBITDA margin. This is a good financial performance and the underlying growth drivers for the business remains solid. During the third quarter we released more games than during any earlier quarter. A strong development that I am pleased with as entertaining games and a flawless player experience are the absolute most important factors for our long-term success.

“Our Live Casino revenue grew to EUR 385.8 million for the quarter and we see a higher demand for our product than what we currently can deliver. That is a measure of the phenomenal traction our games have. However, it also means we are not expanding our studios at the right pace. However, it also means we are not expanding our studios at the right pace. We have faced delays, and in some cases not executed fully, in several of our planned studio projects for this year but even more importantly we need to increase the pace of recruitment both in existing studios as well as to support new studios. We are working hard to get back on track in our existing locations and we will continue to invest in our network of studios and add new locations. We opened a smaller studio in Colombia just after the end of the third quarter. We plan to open one new studio in Europe later this year and 3-4 next year in Europe, North America and LatAm.

“RNG revenues amounted to EUR 66.8 million and declined 1.9 percent compared to the corresponding quarter last year. Despite the step back in year-on-year growth it was a quarter when we made progress in our RNG operations. Our release pace is now where we want it to be and all new games are from the third quarter on OSS (One Stop Shop). We are methodically and systematically moving our RNG business forward. Our earlier communicated goal for RNG growth remains but at the moment we focus on showing step-by-step improvements.

“We are focused on factors that are within our control when explaining our financial result. However, this quarter the impact from external factors such as currency effects are more significant than ever. The strengthening of the Euro against most currencies has affected our top line growth negatively during this year. Players deposit and play in many different currencies with our operators, the resulting GGR is converted to Euro which is the base for our invoicing. In the third quarter we estimate 6-8 percentage points negative headwind on revenue growth from currency effects when comparing revenues to the same quarter last year.

“The group EBITDA margin is 70.4 percent during the third quarter. We maintain our guidance of 68-71 percent EBITDA margin for the year. Coming into the final quarter of the year I do expect us to be in the upper end of that interval even with a full focus on expansion.

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“Our ability to deliver new and exciting player experiences is one of our main competitive advantages and I am pleased to say that we are on track to exceed our plan of more than 100 games released in 2023. In the third quarter we released 28 RNG titles and 8 Live games. We have had a continued strong development of our disco themed Funky Time which launched this spring, adding new dimensions to our popular Game Show portfolio. At the G2E show earlier in October we presented two new releases: Red Door Roulette — an innovative mash-up of Crazy Time and Lightning Roulette — and Video Poker, a Live Casino game offering the ultimate fusion of nostalgia and player-focused modern gaming technology. We also released many new and exciting slots, some of my personal favorites this quarter are The Crypt from Nolimit City and Max Megaways 2 from BTG. As stated, 2023 will be backend loaded in terms of releases both for Live and RNG and I am excited about what the last months of this year will bring from a product perspective.

“North America is a region that we expect to develop over many years as more US states regulate. The online casino market is still in an early stage of development. We continue to see growth for our Live product quarter to quarter in the existing states, while we in the past quarter take a step back in our RNG revenue compared to the second quarter. Together this results in a 9 percent growth in North America compared to same period last year but a slightly lower revenue in the third quarter compared to the second quarter. Asia and Latin America both grow 35 and 39 percent respectively from last year and Europe shows a steady 10 percent increase. The growth compared to third quarter of last year is organic in all regions as the latest acquisitions were included in the group then.

“In summary, the underlying growth drivers remain unchanged. We face a tougher macro climate today than one year ago and we are underserving the market at the moment, but we will continue to invest, optimize recruitment and, as always, push for growth through focus on product innovation. Our financial strength will continue to serve us well as we can continue to invest without interruption and grow. We remain committed to delivering new thrilling experiences to new and existing players and continue to strive to be just a little better every day. I look forward to the final months of the year and onwards into 2024.”

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TaDa Compares the Market for Fishing-Shooting Games

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TaDa Gaming continues to raise awareness of its unique fishing-shooting games through its recently launched Fi/Sh Experience Campaign.

Combining fishing, shooting and gaming, the new vertical offers strategic gameplay, with players targeting specific fish based on their multiplier value. With each shot fired placing a wager, it is the equivalent to a spin on a slot game, making fishing-shooting games recognisable, RNG, casino entertainment products.

However, fishing-shooting games offer a completely different player experience to spinning the reels and so TaDa began its 2025 global roadshows at ICE Barcelona with the aim of demystifying these exciting releases.

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A key takeaway is in understanding the difference between slots and fishing-shooting games. With no reels or paylines, players target and shoot fish or creatures to win rewards from successful hits.

Unlike slots, this requires strategic decision making as to: target choice based on multiplier value or facility to trigger a bonus game; choice in weapons used; and an understanding of how to benefit from the many exciting bonus features including Power Ups, Immortal Bosses and Awakening Events.

The option to choose one of three “rooms” based on different volatility and wager levels in the same game gives players choices that do not usually exist with slots and makes every experience more personalised.

Graphics and animations are comparable to video gaming while real time shooting mechanics, alongside multiplayer capability, ensure fishing-shooting games are not an alternative to slots but a whole new experience.

In-built tutorials, demo play options and on-screen tips alongside a detailed paytable to provide a clear roadmap for successful play mean TaDa games deliver a straightforward and safe experience for all types of players to try these new titles.

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Ray Lee, Director of Business Development at TaDa Gaming, said: “Many players have gravitated to our fishing-shooting games looking for skill influenced gameplay, strategic choices, a more interactive and dynamic experience and multiplayer options.

“The flexibility in starting with a low volatility exposure and being able to change options within the same RNG game is very appealing. There is also the recognition that the wager process is similar to slots which makes players more comfortable.

“Furthermore, our releases including Bombing Fishing, Mega Fishing and Jackpot Fishing are localised for different markets and we have also optimised download times for superlight deployment making the games attractive across multiple demographics and jurisdictions.

“We are very excited about our fishing-shooting games and are delighted to be working to make them ever more accessible to players and operators.”

The post TaDa Compares the Market for Fishing-Shooting Games appeared first on European Gaming Industry News.

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ZEAL Network CEO Helmut Becker Will Not Extend His Contract Beyond January 2026

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Dr. Helmut Becker, CEO of ZEAL Network, has informed the Supervisory Board of the company of his decision not to extend his contract, which runs until January 31, 2026. The 56-year-old has decided to pursue his own entrepreneurial activities in the future after many years as a top manager. Dr Becker will then leave the company after more than twelve years on the Executive Board of ZEAL Network SE, including more than ten as CEO. He will remain fully committed to ZEAL as CEO until the end of his contract term and will ensure a smooth transition of his duties to a successor.

“ZEAL is in an excellent position to continue to grow in the future. After almost ten years as CEO, I have decided that now is the right time to pursue my own entrepreneurial endeavours. This has been a difficult decision for me. I will especially miss our exceptionally strong team and the unique culture we have built together, characterised by innovation, customer focus and team spirit. I will continue to work hard until the end of my term to achieve the goals we have set together,” said Dr Becker.

Dr Becker informed the Supervisory Board of ZEAL Network SE about his decision at an early stage, and the Supervisory Board will immediately initiate a structured process for the succession of the CEO.

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Peter Steiner, Chairman of the Supervisory Board, said: “The Supervisory Board of ZEAL Network SE has noted with great regret Helmut Becker’s decision not to seek a contract extension. Helmut Becker has played a decisive role in taking ZEAL’s business development to a new level. Under his leadership, ZEAL has established itself as a market leader in the online lottery market, significantly expanded its customer base and crucially broadened its offering through innovative product development. On behalf of the Supervisory Board, I would like to thank him for his outstanding commitment and strategic vision. We wish him all the best for his personal life and professional career.”

Dr Becker has been CEO of ZEAL Network since September 1, 2015, after serving as Chief Marketing Officer (CMO) for over two years. Prior to joining the Executive Board, he was a member of the Supervisory Board of ZEAL for two years. Previously, he served as Chief Commercial Officer on the Management Board of XING AG and held various management positions at eBay Germany and as a management consultant at McKinsey. As CEO, Dr Becker was responsible for the acquisition of LOTTO24 AG, the return of ZEAL to Germany and the expansion of the portfolio to include freiheit+, Games and Traumhausverlosung.

The post ZEAL Network CEO Helmut Becker Will Not Extend His Contract Beyond January 2026 appeared first on European Gaming Industry News.

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Gamblorium Enhances Casino Reviews with Updated Rating System

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Gamblorium, a trusted online casino affiliate platform, announces its new and improved casino rating system. This updated system is designed to give players even more accurate and transparent rankings for online casinos. Since 2020, Gamblorium has been known for providing honest and expert-tested casino reviews. With this updated rating system, Gamblorium continues to ensure players can easily find the best gambling sites.

The new rating system combines three key components: Gamblorium Score, Player Score and Market Score. These scores are based on a 100-point scale, providing players with a clear and reliable way to choose casinos that meet their preferences.

Main features of Gamblorium’s new rating system:

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• Gamblorium score: The Gamblorium Score evaluates casinos based on over 100 criteria, including payment methods, game options, security and user experience. Unlike other platforms, Gamblorium uses a relative and flexible approach, meaning casinos are ranked based on their strengths within their market. This score also incorporates Expert Scoring, ensuring that the most important factors are weighted appropriately.

• Player score: The Player Score is based on feedback from real users. Players can leave reviews only if they have registered or played at the casino, ensuring honest and up-to-date feedback. This makes the reviews highly reliable and reflective of the actual player experience.

• Market score: The Market Score helps balance the overall rating by considering the views of other trusted gambling platforms. This adds another layer of objectivity and ensures that Gamblorium’s reviews remain fair and unbiased.

The post Gamblorium Enhances Casino Reviews with Updated Rating System appeared first on European Gaming Industry News.

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