Industry News
Evolution Publishes Interim Report for the Third Quarter of 2023
Evolution has published its interim report for the third quarter of 2023.
Highlights
Third Quarter of 2023
- 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.
“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.”
Alex Manning
LCKY Group announce Alex Manning as Group CTO
LCKY Group has announced the appointment of Alex Manning as Group Chief Technology Officer, marking the first major leadership hire since the company’s strategic rebrand earlier this year.
Previously known as Glitnor Group, the entrepreneurial-led organisation entered a new phase of its development in January when it adopted the name LCKY Group. The rebrand was designed to better reflect the strong portfolio of brands operating under the group while also positioning the business for future expansion.
Alex’s appointment as Group CTO represents a significant step in this next stage of growth. With more than 25 years of experience across the fintech and iGaming sectors, Alex brings deep expertise in scaling businesses and leading complex digital transformations.
Prior to joining LCKY Group, Alex served as CTO of iGaming at Light & Wonder, where he led a major engineering transformation. During his four-year tenure, he transitioned the team to a product-led, cross-functional delivery model, oversaw the development of several first-of-their-kind products, and supported the company’s expansion into new regulated markets.
Richard Brown, Group CEO at LCKY Group, said:
“Everyone at LCKY Group is delighted to welcome Alex at what is a defining moment in the company’s evolution. He brings extensive experience across regulated fintech and iGaming markets, and his proven ability to guide organisations through successful scale-ups and digital transformations makes him an ideal fit for the role of Group CTO.”
Alex Manning, Group CTO at LCKY Group, added:
“I’m excited to join LCKY Group at a time when the business is focused on strengthening its international presence and growing its influence across key regulated markets. My priority will be to build on the strong culture that already exists within the group, creating a high-performance environment where teams can thrive, innovation is encouraged, and each of our brands is given the platform it deserves.”
The post LCKY Group announce Alex Manning as Group CTO appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
2025 Ads Safety Report
PropellerAds 2025 Ad Safety Outlook
PropellerAds, a top performance advertising platform worldwide, has just published the 2025 Ads Safety Report, which offers an in-depth analysis of ad fraud trends, protective measures for the platform, and guidance for advertisers on compliance.
The report emphasizes that as fraudulent methods grow more advanced, the organization’s multi-tiered security measures are essential in protecting advertisers, traffic providers, and end users.
Advancing Ad Fraud Methods and High-Risk Areas
In 2025, ad fraud advanced considerably, transitioning from basic techniques to more intricate, infrastructure-intensive schemes. Fraudsters exploited cloaking, malware distribution networks, and social engineering tactics aimed at messenger accounts, frequently across various ad formats. PropellerAds enhanced initial moderation and foundational detection to identify high-risk actions before campaigns launched.
Throughout the year, the platform processed 729,794 campaign rejections, mainly driven by content compliance and user safety issues, with adult content and malware alerts representing the largest portions. These actions guaranteed that campaigns were halted prior to delivery, safeguarding advertisers, publishers, and end users, while upholding a consistent and reliable advertising landscape. In comparison to 2024, campaign rejections rose by 35%, indicating enhanced moderation reach and more robust preventive measures.
Markets of high value, such as Turkey and Spanish-speaking areas, saw increased levels of fraudulent behavior. Approximately 80% of identified attacks aimed at users of Windows and Android. Fraud patterns typically integrated technical, behavioral, and content indicators, emphasizing the necessity for ongoing monitoring and thorough infrastructure evaluation.
High-Risk Accounts and Safeguarding Methods
Cloaking continued to be the primary high-risk infraction, making up more than 80% of verified account suspensions. This method consists of displaying varying content to moderation systems and users, masking the actual essence of campaigns. Ransomware, unsuccessful identity verification, and scam schemes also played a role in account suspensions, albeit to a smaller degree. Fraud that relies on heavy infrastructure necessitates multi-tiered enforcement and ongoing monitoring to guarantee platform safety.
In 2025, schemes of fraud grew more advanced. Cloaking methods encompassed multi-tiered traffic management, selective content distribution, and decentralized architecture. Malware distribution has progressed from basic redirects to immediate file downloads or complex interactions. Incidents of Messenger account hijacking rose, featuring phishing sites, counterfeit login forms, and mobile-centric social engineering assaults. Certain campaigns even utilized compromised or left-behind servers and domains, necessitating thorough technical and behavioral analysis for detection.
AI and automation contributed to fraud prevention by analyzing behavioral patterns, identifying high-risk signals, and aiding expert evaluations. Although fraudsters tried to utilize AI for creating counterfeit documents or modifying creative assets, PropellerAds guarantees that all campaigns undergo expert reviews and infrastructure checks prior to traffic delivery, stopping high-risk operations from accessing users.
Advertiser Adherence and Risk Oversight
PropellerAds advises advertisers to adhere closely to platform guidelines, verify that ad content aligns with format and regional specifications, comprehend the entire user experience, and track infrastructure and domain reputation. The use of cloaking or misleading tactics is deemed high-risk and typically leads to permanent account termination.
The PropellerAds team highlights that preventing fraud is an ongoing and developing process that demands technology, expert evaluation, and collaboration across the ecosystem. The organization continues to prioritize improving platform safety, ensuring transparency, and safeguarding all individuals involved in the advertising ecosystem.
The post PropellerAds 2025 Ad Safety Outlook appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Fortune Wheel Drops
Just Slots and Hype.Bet Celebrate Year One of Multiplayer Gaming Together
The slot developer Just Slots, based in Malta, participates in Hype.Bet’s anniversary festivities as a highlighted provider partner, offering exclusive contests, Fortune Wheel Drops, and community incentives to players during March.
Just Slots, an iGaming developer recognized for its striking and premium slot games, has revealed a collaboration with Hype.Bet to commemorate the platform’s inaugural anniversary. Taking place in March 2026, the partnership includes Just Slots as a highlighted provider for the significant event, offering unique contests, community-focused rewards, and prominent lobby positioning to users on one of iGaming’s most creative platforms.
Hype.Bet has transformed social casino gaming into the exclusive multiplayer community casino platform where players can join streamers and friends in real-time spins. Since its debut in March 2025, the platform has created a dedicated community centered on its hallmark Multiplayer Rooms feature, where hundreds of players can enter a communal room, observe a host oversee the gameplay, and track their balances fluctuating together, all in real-time.
In March, three Just Slots games—Rain and Ruin, Dynamo’s Show, and Vegan Nightmare—will be highlighted in Hype.Bet’s main lobby section, each adorned with unique halo icons to signify their participation in the anniversary promotion. Gamers can easily identify the highlighted games and dive right into the contest. The month-long competition, taking place from March 1 to 29, encourages participants to compete across the full Just Slots collection on Hype.Bet, offering rewards for individual players and streamers alike. The individual player champion receives a unique, limited-edition Hype.Bet anniversary merchandise pack, a Just Slots merchandise pack, and $500 in cash, whereas the leading streamer is awarded their own exclusive merchandise and a bonus incentive.
Enhancing the thrill, Hype.Bet’s exclusive Fortune Wheel Drops will take place every Monday and Wednesday during the campaign. Participants in Multiplayer Rooms during streamer events can seize $2,500 Fortune Wheel Drops, broadcast live to the community in a distinctly Hype.Bet style. The drops occur twice a day on those days, upholding the platform’s central belief that achieving success is more enjoyable when it is shared.
Nick Formosa, Head of Client Strategy at Just Slots, commented, “Hype.Bet has built something genuinely different in this space with a platform where the community is as much a part of the experience as the games themselves. That’s a philosophy that resonates with us at Just Slots, and this partnership felt like a natural fit from the start. Seeing our titles at the centre of their anniversary celebrations, with players competing and winning together throughout the month, really captures what ‘Play Together, Win Together’ is all about.”
Iana, Head of Marketing at Hype.Bet, added, “Celebrating our first anniversary with partners like Just Slots is a great way to highlight the community experience that defines Hype.Bet. Their games fit perfectly into our Multiplayer Rooms format, where players can watch, compete, and win together. This collaboration brings exciting competitions and rewards to our players while showcasing what social casino gaming can look like when the community comes first.”
After the launch of their inaugural game in 2024, Just Slots has introduced ten titles and established a variety of strategic alliances within the industry, emerging as a significant player in next-generation slot development. Participants can access complete information about the anniversary promotion, including contest rules and the Fortune Wheel Drop timetable, at hype.bet/promotions.
The post Just Slots and Hype.Bet Celebrate Year One of Multiplayer Gaming Together appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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