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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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BMM Testlabs
BMM Testlabs hires Michael Minor as SVP and North America BD lead
Minor will lead land-based gaming sales strategy and customer engagement across the region.
BMM Testlabs has appointed Michael Minor as Senior Vice President & North America Market (NAM) Leader, Business Development, the company said.
In the role, Minor will lead land-based gaming sales strategy and customer engagement across North America, with a mandate to expand BMM’s regional presence and relationships with manufacturers, suppliers, and operators.
Minor brings more than 20 years of experience in business development leadership, client engagement, and sales strategy, according to BMM. He previously held senior roles at NEXTEQ, Pavilion Payments, and IGT.
Kirk White, Global President, Land-Based Gaming & Inspections, said, “Michael is a respected leader with deep experience across the North American gaming market. He understands our customers, knows how to build strong teams, and has a proven track record of delivering growth. With BMM’s full NAM coverage for certification services, we are excited to welcome Michael to BMM, supporting our client-engagement experience as we expand our services across the region.”
Minor said, “I am excited to join BMM Testlabs at such an exciting time for the company as the industry highly values what BMM is offering for Compliance and QA services. BMM has a strong reputation and focus on quality, speed, and integrity, and I look forward to working with our customers and teams across North America to support their growth and success.”
- BMM Testlabs: https://bmm.com/ Company site for confirmation of the executive appointment and BMM’s testing and certification services.
- American Gaming Association: https://www.americangaming.org/ Trade body resource for North American gaming market context referenced in the appointment.
- Pavilion Payments: https://www.pavilionpayments.com/ Background on one of Minor’s prior employers cited in the release.
- IGT: https://www.igt.com/ Background on one of Minor’s prior employers cited in the release.
The post BMM Testlabs hires Michael Minor as SVP and North America BD lead appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
BMM TESTLABS WELCOMES EXPERIENCED GAMING EXECUTIVE MICHAEL MINOR AS SENIOR VICE PRESIDENT & NAM LEADER, BUSINESS DEVELOPMENT
BMM Testlabs (“BMM” or “the Company”), the world’s original gaming test lab renowned for exceptional product compliance and certification services, today announced that Michael Minor has joined the Company as Senior Vice President & North America Market (NAM) Leader, Business Development.
In this role, Minor will lead land-based gaming sales strategy and customer engagement across the region, helping expand BMM’s presence and strengthen relationships with manufacturers, suppliers, and operators.
Minor brings more than 20 years of leadership experience in managing business development teams, client engagements, and sales strategies, and in-depth knowledge of gaming technologies and enterprise platform solutions. He previously held senior-level roles at NEXTEQ, Pavilion Payments, and IGT, where he led major initiatives and supported large-scale deployments of systems and technologies.
Kirk White, Global President, Land-Based Gaming & Inspections, said, “Michael is a respected leader with deep experience across the North American gaming market. He understands our customers, knows how to build strong teams, and has a proven track record of delivering growth. With BMM’s full NAM coverage for certification services, we are excited to welcome Michael to BMM, supporting our client-engagement experience as we expand our services across the region.”
Minor said, “I am excited to join BMM Testlabs at such an exciting time for the company as the industry highly values what BMM is offering for Compliance and QA services. BMM has a strong reputation and focus on quality, speed, and integrity, and I look forward to working with our customers and teams across North America to support their growth and success.”
The post BMM TESTLABS WELCOMES EXPERIENCED GAMING EXECUTIVE MICHAEL MINOR AS SENIOR VICE PRESIDENT & NAM LEADER, BUSINESS DEVELOPMENT appeared first on Americas iGaming & Sports Betting News.
Aglaja Geta
“Stories”, a new feature design to elevate sportsbook engagement and promotional visibility from BETBY
BETBY, the leading sportsbook provider, has announced the launch of Stories, a new feature designed to transform how operators present promotions and key events to their players.
Inspired by the widely adopted Stories format seen across social media platforms, the feature introduces a familiar, intuitive way for bettors to discover and engage with content directly within the sportsbook interface.
As competition for user attention continues to intensify, operators face the ongoing challenge of delivering promotions and updates in a way that cuts through the noise without overwhelming the user experience.
Stories addresses this by offering a dynamic, swipeable format that brings key content — such as bonuses, tournaments, major sporting events, and boosted odds — into a more engaging and accessible space.
Fully integrated into BETBY’s sportsbook environment, Stories enables bettors to seamlessly browse through short, interactive content cards, mirroring the mechanics they already use daily on social platforms.
This familiarity plays a key role in driving immediate interaction, lowering the barrier to engagement, and creating additional touchpoints between operators and their users.
By introducing a format that naturally encourages exploration, Stories helps increase visibility across promotional campaigns while supporting higher engagement rates.
Each new Story acts as a trigger for curiosity, prompting users to click through and discover new offers or events, ultimately contributing to improved promo turnover.
The feature feels particularly intuitive to younger demographics, who are already accustomed to this style of interaction.
By aligning sportsbook UX with established digital behaviors, BETBY allows operators to connect with these audiences in a more organic and impactful way.
“Stories is about meeting users where they already are, in terms of how they consume content,” said Aglaja Geta, Head of UX & Analytics at BETBY.
“We wanted to introduce a format that feels instantly familiar, while giving operators a powerful new way to highlight their most important promotions and events.
It creates a smoother, more engaging experience that encourages interaction without adding complexity to the platform.”
From an operational perspective, Stories offers a streamlined way to enhance the front-end experience without requiring structural changes to the sportsbook.
The feature integrates seamlessly, allowing operators to enrich their content strategy while maintaining a clean and intuitive interface.
About BETBY
BETBY is a leading B2B provider of top-tier sports betting services, renowned for its groundbreaking technology and dedication to excellence.
BETBY’s team of industry veterans tap into their knowledge and expertise to deliver a premium, adaptable, and scalable sportsbook platform tailored to meet the varied demands of operators across the globe.
From dynamic in-play betting options to robust risk management tools and ground-breaking AI tools, BETBY is committed to propelling the success of its partners in the rapidly evolving landscape of online sports betting.
For more information visit betby.com
The post “Stories”, a new feature design to elevate sportsbook engagement and promotional visibility from BETBY appeared first on Americas iGaming & Sports Betting News.
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