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Evolution – Interim Report Jan-Sept 2020

Third quarter of 2020 (Q3 2019)
- Operating revenues increased by 48% to EUR 140.0 million (94.7)
- EBITDA increased by 87% to EUR 90.7 million (48.5), corresponding to a margin of 64.8% (51.2)
- Profit for the period amounted to EUR 79.4 million (39.8)
- Earnings per share amounted to EUR 0.44 (0.22)
January-September 2020 (9M 2019)
- Operating revenues increased by 48% to EUR 383.5 million (259.0)
- EBITDA increased by 86% to EUR 235.9 million (127.1), corresponding to a margin of 61.5% (48.9)
- Profit for the period amounted to EUR 204.0 million (102.9)
- Earnings per share amounted to EUR 1.12 (0.57)
Summary of the third quarter and the first nine months of 2020
Comments from CEO Martin Carlesund:
I’m happy to report strong results for the quarter. Revenue amounted to EUR 140 million, an increase of 48 percent compared with the third quarter of 2019. EBITDA amounted to EUR 91 million with a margin of 64.8 percent. The past quarter has also been a period of exceptionally high activity operationally within Evolution and after the end of the quarter we are live with our first tables in both Pennsylvania, USA and Kaunas, Lithuania. We are still dealing with the limitations imposed by Covid but we are slowly coming back towards pre-Covid levels in number of tables.
Our new game show style game – Crazy Time – was launched globally on July 1st and has been a great success. Players enjoy the groundbreaking game format and possibility of big wins. It is our most successful game launch to date. Instant Roulette was also launched during the quarter and coming up in Q4 is the launch of Craps. We continue to build our portfolio of unique innovative games both within traditional table games as well as game shows.
Germany is on its way to be the next regulated market in Europe. Licenses for Online Casino, which includes Live Casino, and Online Slots, are planned to be issued from July 2021. Until then a transition will take place where some operators will not offer Live Casino. Revenue related to German players make up 5-10% of our current total revenues. While we expect a negative effect on our German revenue during the transition the effect on the Evolution group as a whole is limited. Long-term we view the move towards regulation in Germany as positive for Evolution.
We continue to stay focused on further strengthening our North American footprint and it makes me proud to say that we now are live in Pennsylvania. Also important for the North America expansion is that we, during the third quarter, have signed several new customers for the US market and more are to come. Regardless of the timing for regulation in additional states we know that Evolution is well positioned and that the US market is a long-term project with very high potential.
We experience high demand for our games all over the world and thus we continue to invest in additional studio capacity to meet the total demand. During this week we also launched the new medium sized Lithuanian studio. It has been our fastest and most efficient build so far. Together with the latest expansion in Tbilisi, the new build in Pennsylvania, expansion in Malta, expansion in New Jersey and the coming build in Michigan we look forward to a very hectic expansion in the coming period.
During the period we have also updated our corporate brand to Evolution. The new branding better reflects the diversity of our operations. In addition to our gaming offerings, we are also active within areas such as software development, technology innovation and state-of-the art broadcast studio design.
With increased studio capacity together with a continuous development of the very best products and services, we are well positioned to increase our market leadership within Live Casino going forward. During the fourth quarter we look forward to close the deal with NetEnt. We see a fantastic potential in combining the two companies and continuing to deliver the best playing experiences for players across the globe. As I said in the beginning of this report we have a hectic Q3 behind us and now we look forward to an even more hectic Q4. We will continue to work relentlessly on all fronts to continue to better every single day.
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Gaming Corps joins forces with Torrero to boost operator choice and content delivery

Gaming Corps – a publicly-listed game development company based in Sweden, has partnered with Torrero, the B2B aggregator and white-label provider, in a deal that sees Gaming Corps’ full suite of content rolled out across Torrero’s extensive network of operator brands.
Torrero’s aggregation platform features more than 8,500 games from over 130 providers, alongside sportsbook content spanning 20+ sports and over half a million sporting events — and now includes Gaming Corps’ diverse portfolio of Slot, Table, Mines, Multiplier and Plinko titles. Known for powering major global brands like Betmaster and Casinoin, Torrero offers a full-service solution that goes far beyond content, with integrated payments, compliance, multilingual customer support, and licensing services all managed under one roof.
Danielle Calafato, CCO at Gaming Corps, said: ” Torrero’s strength lies in giving operators exactly what they need — flexibility, speed and a content-rich platform. That makes them a natural fit for us. This partnership helps us reach new markets while giving Torrero’s partners access to a steady stream of distinctive, engaging content designed for today’s players — including some of our latest titles like 3 Pigs of Olympus, Hyena Heist and Penalty Champion 2. We’re excited to see our games go live across their network and to be part of a proposition that puts performance and player experience first.”
Aleksei Tolstov, Head of Business Development at Torrero, added: “Gaming Corps is a standout game developer that continues to grow in reputation and quality. Their content is a great fit for our platform and operator brands, particularly in terms of game variety and performance. We’re pleased to welcome them to our network and look forward to a successful collaboration ahead.”
The partnership is now live, with Gaming Corps’ games available to all Torrero partners from today.
The post Gaming Corps joins forces with Torrero to boost operator choice and content delivery appeared first on European Gaming Industry News.
Industry Awards
Omnigame celebrates win at SBC Awards Europe

Omnigame, the full-service iGaming business, is celebrating industry recognition after being awarded Gaming Mechanic/Feature of the Year at the SBC Awards Europe.
Hosted at the Hilton Malta, the awards recognised the achievements of the very best operators, affiliates, suppliers, payment providers, and game developers across the European betting and gaming industry.
Omnigame’s creative twist on traditional slot machines, its ‘Wheels of Reels’ mechanic, incorporates ‘wheels’ of differing lengths rather than the traditional rectangular matrix. The innovative spinning mechanic provided a new approach to slot gaming, allowing Omnigame to stand apart from its competition in the category.
The creativity of the mechanic has seen Stream of Luck become one of the most popular games in the Omnigame portfolio.
Peter Weinreich, CEO of Omnigame, said: “Receiving the award that highlights the innovative nature of our ‘Wheels of Reels’ mechanic at the SBC Awards Europe is a massive credit to the whole team at Omnigame. We are incredibly proud of our achievement, which has provided a fresh take on the traditional slot experience.
“We have worked hard to provide exciting games to players, and this recognition of our innovative approach is a fantastic moment for us.”
The post Omnigame celebrates win at SBC Awards Europe appeared first on European Gaming Industry News.
Latest News
Former Swintt Marketing Manager Michela Pace joins GameOn

Pace named Marketing Operations Manager for full-service agency’s popular Fractional CMO division
GameOn has appointed former Swintt Marketing Manager, Michela Pace, as Marketing Operations Manager of its thriving Fractional CMO division.
Michela is a skilled marketer who started her career in the iGaming industry back in 2021 as a marketing intern at Swintt.
The slot studio quickly saw her potential, offering her a full-time role as Campaign Coordinator. She then progressed to Marketing Executive, a position she held for two years, before being promoted to Marketing Manager.
Across these roles, she has been involved in a wide range of marketing initiatives from managing game launch campaigns and content calendars to organising events, handling merchandise and working with media partners to drive brand visibility through interviews, press releases and editorial features.
She brings this experience and a passion for marketing and branding to the Marketing Operations Manager role at GameOn, where she will be responsible for supporting the wider CMO team, led by Alex Wilson, and working directly with clients on their marketing strategies and campaigns.
Alex Wilson, Head of Marketing Division at GameOn, said: “I’m delighted to welcome Michela to the team and for GameOn’s Marketing Division to benefit from such a passionate and talented marketer with tons of industry experience.
“Michela played a central role in building Swintt’s profile in the industry from the ground up, experience that our clients will absolutely benefit from.
“More than anything, Michela is a great person to work with, bringing enthusiasm and energy to the team. I’m really looking forward to working with her as we build out GameOn’s Fractional CMO offering and deliver value and results for our clients.”
Michela Pace, Marketing Operations Manager at GameOn, added: “I’m over the moon to be joining GameOn. I’ve always admired the company, especially the incredible team behind it, and feel very lucky to be starting this new chapter with them.
“I’m excited to work alongside the team and to support our clients by contributing to their strategies and campaigns. I’m also fortunate to be learning from the best in the industry while pushing creative boundaries as we continue to grow together.”
The post Former Swintt Marketing Manager Michela Pace joins GameOn appeared first on European Gaming Industry News.
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