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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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InventHelp Inventor Develops New Accessory for Roulette Players

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“I wanted to create an accessory that would make it easy to remember numbers that are hitting on a roulette wheel as well as your bets, so I invented the MY ROULETTE WHEEL. My design would take the guesswork out of selecting numbers for betting, and it could help improve your odds,” said an inventor, from Las Vegas, Nev.

The invention provides a new accessory for individuals who enjoy playing roulette. In doing so, it helps a gambler select a limited number of numbers. It also would allow the user to keep track of the numbers he had bet on. As a result, it increases entertainment, and it could improve an individual’s odds of winning. The invention features a compact and novel design that is easy to use so it is ideal for casino patrons and individuals who enjoy roulette. Additionally, a prototype is available.

The original design was submitted to the Las Vegas sales office of InventHelp. It is currently available for licensing or sale to manufacturers or marketers.

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PTSB Launches ln-app Voluntary Gambling Block to Support Customer Financial Wellbeing

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PTSB has launched a digital voluntary block for customers who wish to stop card transactions involving gambling merchants. This is an important initiative in promoting financial wellbeing and supporting customers in managing gambling-related harm.

The new feature allows PTSB customers to block debit and credit card transactions that are classified as gambling instantly through their PTSB App.

If customers choose to remove the block, a 48-hour impulse delay period will apply before gambling transactions can resume.

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Along with betting sites, the block also covers online casinos, poker sites and lottery websites.

An analysis of PTSB banking data from January to June 2025 shows:

• 91% of gambling spend was completed online.

• 80% of gambling spend was completed by men, versus 20% completed by women.

• The age group with the highest spend on gambling sites for both men and women is 40-49.

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• 2% of those who gambled in June 2025 spent over €1000, which falls into the threshold of problem gambling, according to ESRI Research.

ESRI research found that there are 130,000 adults with problem gambling in Ireland. There is also growing evidence that gambling offers lure people to bet more, particularly those at risk of problem gambling.

As part of the Bank’s 2025-2027 Sustainability launched earlier this year, PTSB is committed to playing its part in supporting customers with their financial wellbeing and has a continued focus on improving the financial literacy of its customers through education, inclusion supports and the delivery of digital tools. This includes raising awareness of the risks associated with problem gambling and providing support for those affected.

PTSB also has a dedicated Enhanced Customer Support team within their Contact Centre should customers need to access this support via phone.

Patrick Farrell, PTSB’s Retail Banking Officer, said: “At PTSB, the safety and welfare of our customers is of the utmost importance, and we’re committed to ensuring our customers have the knowledge and confidence to make informed financial decisions and plan for their future.

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“Problem gambling is increasingly becoming a societal issue that warrants the closest attention, as it can have hugely damaging implications for individuals, their families and loved ones. We know from ESRI research that one in 30 adults in Ireland suffers from problem gambling, but worryingly a further 279,000 adults show moderate evidence of it. That’s why we have introduced this voluntary gambling block in-app so that it is accessible when our customers need it most.”

Oisín McConville of GamblingCare.ie said: “I am delighted that PTSB has introduced a Gambling Block feature to their app. Having this service available to customers digitally will make a huge difference as it is accessible to them on the go, which is particularly important given the prevalence and availability of online gambling.

“Initiatives like this from PTSB are crucial in supporting those who experience problem gambling and really complement the support services GamblingCare offers in managing gambling-related harm.”

The post PTSB Launches ln-app Voluntary Gambling Block to Support Customer Financial Wellbeing appeared first on European Gaming Industry News.

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Apple iSports

Apple iSports Signs Definitive Agreement to Acquire LBC Enterprises Pty Ltd

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Apple iSports, a gaming, entertainment, and technology services company, announced that it has signed a Definitive Agreement with LBC Enterprises Pty Ltd (LBC or Lucky Bet), an online gaming, wagering, and payment systems company.

The proposed acquisition underscores Apple iSports’ ability to execute strategic transactions pursuant to its stated business strategy. This transaction will underpin the Company’s ambitions and excellent relationships in the gaming and entertainment communities by securing highly accretive gaming and wagering revenue streams from business-to-business (B2B) and consumers (B2C). In doing so, this will position the Company to become a highly competitive player in the U.S. online gambling services ecosystem.

Ian Parke, CEO of LBC, said: “The proposed acquisition of our company by Apple iSports validates the global opportunity we see in regulated, tech-driven gaming. By combining LBC’s platform and operational expertise with AiS’s capital markets presence and distribution network, we are primed to accelerate our expansion into new markets and scale our white label program. This partnership represents a major step forward for Lucky Bet and the broader LBC ecosystem.”

Joe Martinez, CEO and Chairman of Apple iSports, said: “The Board of Directors is excited to continue rolling out our stated objectives with our proposed acquisition of LBC. Our service offerings to B2B and B2C will now be significantly enhanced in a rapidly growing sector. Combined with our exceptional team, this transaction catapults us into the US and international gaming markets.”

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Board member and director Lyndon Hsu, who is based in Singapore, said: “This defining transaction will expand our reach into gaming, wagering, and payment services markets via B2B and B2C opportunities. AiS will also be able to accelerate its stated capital raising objectives and further anticipated business acquisitions. Apple iSports remains on track to become a NASDAQ mainboard-listed company.”

The post Apple iSports Signs Definitive Agreement to Acquire LBC Enterprises Pty Ltd appeared first on Gaming and Gambling Industry in the Americas.

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