Latest News
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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iQOO S8UL
iQOO S8UL crowned champions of Rai Star x Gyan Gaming Cup, one of India’s largest MOBA Legends 5v5 tournaments
iQOO S8UL, the MOBA Legends 5v5 team of S8UL Esports, emerged victorious at the Rai Star x Gyan Gaming Cup, one of India’s largest MOBA tournaments, with a nail-biting 4-3 win in the grand final held in Kolkata on February 18. The championship secured the team INR 12.5 lakh in prize money and reinforced S8UL Esports’ dominance in the Indian competitive MOBA scene.
The month-long tournament featured 1,024 teams in open qualifiers, culminating in a top-16 main event. Led by in-game leader Mohammad Saad (Apex), alongside Abhijeet Katkar (Abhi), Mehta Jay (J), Chirag Singh (Radium), Debasish Sana (Anti), and Joseph Nehhunjang (Kakarot), iQOO S8UL displayed remarkable composure and strategic execution throughout.
The team’s path to victory included:
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Quarterfinals: 2-0 win over Megatron Esports (Bo3)
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Semifinals: 3-1 victory over PEAK (Bo5)
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Group A Finals: 4-0 sweep of Elusivity Esports (Bo7)
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Grand Final: 4-3 triumph against Godlike Esports (Bo7)
Animesh Agarwal, Co-founder of S8UL Esports, commented: “This win is a testament to our long-term vision and structured support system for elite players. The Indian MOBA ecosystem is growing rapidly, and victories like this validate our investment in building top-tier lineups and nurturing talent.”
IGL Mohammad Saad (Apex) added: “The grand final was one of the most intense series we’ve played. This title belongs to everyone who believed in us.”
The victory strengthens S8UL Esports’ reputation as a leading Indian esports organization, highlighting its commitment to developing elite talent and elevating India’s presence in both national and global esports arenas.
The post iQOO S8UL crowned champions of Rai Star x Gyan Gaming Cup, one of India’s largest MOBA Legends 5v5 tournaments appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
PG Soft returns with dual sponsorship for SiGMA Africa 2026
PG Soft, a leading mobile games developer, returns to SiGMA Africa 2026, taking place from March 3–5 at The Grand Arena, GrandWest Casino and Entertainment World in Cape Town, South Africa, with two high-profile sponsorships.
Africa remains a rapidly growing and increasingly savvy iGaming market, forming a key part of PG Soft’s long-term expansion strategy.
The HD Screen at Entrance Sponsorship puts PG Soft’s logo on giant screens next to registration, accompanied by a looped promotional video showcasing its diverse game portfolio to every attendee.
Meanwhile, the Registration Counter Sponsorship gives the brand prominent exposure at the start of the SiGMA experience, featuring full branding and two dedicated screens for maximum visibility.
The dual sponsorship underscores PG Soft’s commitment to the African iGaming market and its ongoing strategic growth in the region.
A PG Soft spokesperson said: “Africa continues to be an exciting frontier for iGaming innovation and growth. By sponsoring SiGMA Africa once again, we’re reaffirming our dedication to this vibrant market and our belief in its potential. We look forward to connecting with industry leaders and partners at one of the continent’s premier gaming events.”
The post PG Soft returns with dual sponsorship for SiGMA Africa 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Belatra
Rods at the ready for Belatra’s Ice Bass slot
Belatra, the innovative online slots developer, is back with the highly anticipated sequel to its hit Blast the Bass, introducing Ice Bass.
The familiar fisherman returns, swapping summer gear for a heavy-duty parka and an ice drill, ready to fish beneath a frozen lake for a maximum win of 5,000x. Each spin is accompanied by an energetic soundtrack that intensifies as players progress through the game’s new levels.
Fish icons represent both standard payline elements and credit symbols, with multipliers ranging from 2x to 1000x. The Fisherman-Wild, appearing exclusively in Free Games, collects all visible values on the screen, with multiple Fishermen multiplying the haul.
Players can unlock boosters during the pre-game fishing phase—triggered by three or more Scatters in Free Games—that add Fishermen, extra spins, or guaranteed Fish symbols. The round continues until the dreaded Old Boot is hooked, with the Booster panel stacking rewards and multipliers as the feature progresses.
Hot Mode, activated by five Scatters in the base game, immediately awards active multipliers and additional games. Players can increase Scatter frequency with the Bet +25% option or jump straight into Free Games or Hot Mode using the Buy Bonus feature.
Misha Voinich, Head of Business Development at Belatra, commented: “Get your winter gear ready for our slick new Ice Bass, a worthy follow-up to the much-loved Blast the Bass. We wanted to create a game that packs the same punch as the original but in a thrilling winter setting—and the team has delivered a game that’s scorching hot even below zero!”
The post Rods at the ready for Belatra’s Ice Bass slot appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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