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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affiliate marketing
Alexandros Michas on Building Platforms, Not Pages
In the world of affiliate marketing, a little chaos is usually the norm. Managing dozens of websites across different regions often means endless firefighting. Enter Alexandros Michas, who was recently appointed as the Head of Website Operations at Media 24. In this interview, we talked with Alexandros about how he is replacing chaotic, site-by-site fixes with a single blueprint to turn standard affiliate sites into true digital platforms.
A few months ago, you were appointed as the Head of Website Operations at Media 24. To give our readers a look behind the scenes, what exactly does this role involve, and what are the main things you focus on in this position?
My job is to take the big-picture goals discussed with our CEO and figure out how we actually build them. I translate high-level business strategy into a concrete technical roadmap and take responsibility for it and everything that goes into our websites.
Day-to-day, I am leading our talented and experienced team of site managers. Together, we look at our portfolio of websites not just as platforms, but as products. We are constantly tweaking site functionality, brainstorming new product features, and upgrading the user experience. The ultimate goal is to move past standard affiliate landing pages and build something stickier. We want our websites to be the definitive, go-to destination where sports bettors in any given region don’t just visit once to find a bookmaker, but actively want to return to for value.
With dozens of websites in the portfolio, how do you prevent operational chaos? What does a scalable architecture look like for a modern affiliate house?
Honestly, if you treat every site like its own special project, you’ll drown in chaos overnight. The secret is standardisation.
Of course, every region has its own local specifics that we have to adapt to, and we do so by having locals as website managers. But underneath it all, we build everything on a single, shared blueprint. When we design a new feature, we don’t just build it for one site. We build it to level up the whole portfolio at once. It also makes expanding into a new market much easier. If a promising new region opens up tomorrow, we don’t have to start from scratch. We just drop in a product that’s already battle-tested and ready to go.
I’ve also set up teams around each GEO and manager, which include SEO specialists, content managers, and others, to ensure a smooth and efficient workflow.
Since you rely on a single blueprint, how do you manage the human element? How much freedom do your site managers have to experiment in their local markets versus sticking to the playbook?
Our site managers are the true experts in their specific regions, so they have total autonomy over their local content plans and figuring out what makes bettors in their area tick. They own that local strategy completely, while the blueprint just ensures they are building on a rock-solid foundation.
Because they are on the ground, I actually encourage them to constantly pitch product improvements. I always listen to their suggestions because a great idea shouldn’t just stay on one site. If a manager finds a feature that works incredibly well for their audience, we don’t just keep it there. We roll it into our core blueprint so the entire portfolio benefits from it.
The company has shifted toward building true digital platforms rather than just simple affiliate sites that rank. In practice, what is the biggest difference between those two approaches?
The biggest difference is value and retention. A simple affiliate site is transactional. It’s built entirely around SEO keywords just to capture a click, send the user to a sportsbook, and hope for a conversion. If Google tweaks its algorithm, that site is incredibly vulnerable because users have no real loyalty to it.
A digital platform, on the other hand, is an actual product. We aren’t just trying to get a click. We are trying to be a helpful place for the sports bettor. That means building features, community, and data hubs. It takes a lot more time and energy to maintain, but it turns a casual visitor into a loyal user. They don’t just find us on Google once. They bookmark the site and keep coming back because the product itself is valuable.
The World Cup is live right now. An event of this scale is a massive test for any affiliate. How did you approach the preparation for this global tournament from a product perspective, and what features did you ship to keep bettors engaged?
We knew the traffic spikes would be insane, so preparation actually started months ago. From a product perspective, the ultimate goal was instant utility. During a massive event like this, users want their information immediately, without any friction.
Feature-wise, we shipped an advanced match centre, a tournament bracket simulator, and worked heavily on upgrading our entire content strategy specifically for the World Cup. Because of the shared framework we talked about earlier, we didn’t have to build these tools site-by-site. Our blueprint allowed us to deploy these advanced features across all of our sports betting properties simultaneously, giving every region a premium product at the same time.
When the final whistle blows on the World Cup and we look back at the rest of 2026, what will have to happen for you to look back and say we absolutely nailed it?
On the data side, I want to look at our metrics and see a clear spike in returning users. That will be the ultimate proof that our platform strategy is actually working.
But our upgrades and feature improvements don’t just stop with the World Cup. We already have plenty of things in the pipeline, and we are planning a massive push right before the main European leagues kick off late this summer.
At the end of the day, I’ll know we nailed it if our site managers are effortlessly launching these new features, seeing the direct results of their work, and feeling like they have the absolute best tools in the industry to win their markets. That would be proof that we didn’t just build websites. We built a highly scalable affiliate product.
The post Alexandros Michas on Building Platforms, Not Pages appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
affiliate marketing
Alexandros Michas on Building Platforms, Not Pages
In the world of affiliate marketing, a little chaos is usually the norm. Managing dozens of websites across different regions often means endless firefighting. Enter Alexandros Michas, who was recently appointed as the Head of Website Operations at Media 24. In this interview, we talked with Alexandros about how he is replacing chaotic, site-by-site fixes with a single blueprint to turn standard affiliate sites into true digital platforms.
A few months ago, you were appointed as the Head of Website Operations at Media 24. To give our readers a look behind the scenes, what exactly does this role involve, and what are the main things you focus on in this position?
My job is to take the big-picture goals discussed with our CEO and figure out how we actually build them. I translate high-level business strategy into a concrete technical roadmap and take responsibility for it and everything that goes into our websites.
Day-to-day, I am leading our talented and experienced team of site managers. Together, we look at our portfolio of websites not just as platforms, but as products. We are constantly tweaking site functionality, brainstorming new product features, and upgrading the user experience. The ultimate goal is to move past standard affiliate landing pages and build something stickier. We want our websites to be the definitive, go-to destination where sports bettors in any given region don’t just visit once to find a bookmaker, but actively want to return to for value.
With dozens of websites in the portfolio, how do you prevent operational chaos? What does a scalable architecture look like for a modern affiliate house?
Honestly, if you treat every site like its own special project, you’ll drown in chaos overnight. The secret is standardisation.
Of course, every region has its own local specifics that we have to adapt to, and we do so by having locals as website managers. But underneath it all, we build everything on a single, shared blueprint. When we design a new feature, we don’t just build it for one site. We build it to level up the whole portfolio at once. It also makes expanding into a new market much easier. If a promising new region opens up tomorrow, we don’t have to start from scratch. We just drop in a product that’s already battle-tested and ready to go.
I’ve also set up teams around each GEO and manager, which include SEO specialists, content managers, and others, to ensure a smooth and efficient workflow.
Since you rely on a single blueprint, how do you manage the human element? How much freedom do your site managers have to experiment in their local markets versus sticking to the playbook?
Our site managers are the true experts in their specific regions, so they have total autonomy over their local content plans and figuring out what makes bettors in their area tick. They own that local strategy completely, while the blueprint just ensures they are building on a rock-solid foundation.
Because they are on the ground, I actually encourage them to constantly pitch product improvements. I always listen to their suggestions because a great idea shouldn’t just stay on one site. If a manager finds a feature that works incredibly well for their audience, we don’t just keep it there. We roll it into our core blueprint so the entire portfolio benefits from it.
The company has shifted toward building true digital platforms rather than just simple affiliate sites that rank. In practice, what is the biggest difference between those two approaches?
The biggest difference is value and retention. A simple affiliate site is transactional. It’s built entirely around SEO keywords just to capture a click, send the user to a sportsbook, and hope for a conversion. If Google tweaks its algorithm, that site is incredibly vulnerable because users have no real loyalty to it.
A digital platform, on the other hand, is an actual product. We aren’t just trying to get a click. We are trying to be a helpful place for the sports bettor. That means building features, community, and data hubs. It takes a lot more time and energy to maintain, but it turns a casual visitor into a loyal user. They don’t just find us on Google once. They bookmark the site and keep coming back because the product itself is valuable.
The World Cup is live right now. An event of this scale is a massive test for any affiliate. How did you approach the preparation for this global tournament from a product perspective, and what features did you ship to keep bettors engaged?
We knew the traffic spikes would be insane, so preparation actually started months ago. From a product perspective, the ultimate goal was instant utility. During a massive event like this, users want their information immediately, without any friction.
Feature-wise, we shipped an advanced match centre, a tournament bracket simulator, and worked heavily on upgrading our entire content strategy specifically for the World Cup. Because of the shared framework we talked about earlier, we didn’t have to build these tools site-by-site. Our blueprint allowed us to deploy these advanced features across all of our sports betting properties simultaneously, giving every region a premium product at the same time.
When the final whistle blows on the World Cup and we look back at the rest of 2026, what will have to happen for you to look back and say we absolutely nailed it?
On the data side, I want to look at our metrics and see a clear spike in returning users. That will be the ultimate proof that our platform strategy is actually working.
But our upgrades and feature improvements don’t just stop with the World Cup. We already have plenty of things in the pipeline, and we are planning a massive push right before the main European leagues kick off late this summer.
At the end of the day, I’ll know we nailed it if our site managers are effortlessly launching these new features, seeing the direct results of their work, and feeling like they have the absolute best tools in the industry to win their markets. That would be proof that we didn’t just build websites. We built a highly scalable affiliate product.
The post Alexandros Michas on Building Platforms, Not Pages appeared first on Americas iGaming & Sports Betting News.
Latest News
Alexandros Michas on Building Platforms, Not Pages
In the world of affiliate marketing, a little chaos is usually the norm. Managing dozens of websites across different regions often means endless firefighting. Enter Alexandros Michas, who was recently appointed as the Head of Website Operations at Media 24. In this interview, we talked with Alexandros about how he is replacing chaotic, site-by-site fixes with a single blueprint to turn standard affiliate sites into true digital platforms.
A few months ago, you were appointed as the Head of Website Operations at Media 24. To give our readers a look behind the scenes, what exactly does this role involve, and what are the main things you focus on in this position?
My job is to take the big-picture goals discussed with our CEO and figure out how we actually build them. I translate high-level business strategy into a concrete technical roadmap and take responsibility for it and everything that goes into our websites.
Day-to-day, I am leading our talented and experienced team of site managers. Together, we look at our portfolio of websites not just as platforms, but as products. We are constantly tweaking site functionality, brainstorming new product features, and upgrading the user experience. The ultimate goal is to move past standard affiliate landing pages and build something stickier. We want our websites to be the definitive, go-to destination where sports bettors in any given region don’t just visit once to find a bookmaker, but actively want to return to for value.
With dozens of websites in the portfolio, how do you prevent operational chaos? What does a scalable architecture look like for a modern affiliate house?
Honestly, if you treat every site like its own special project, you’ll drown in chaos overnight. The secret is standardisation.
Of course, every region has its own local specifics that we have to adapt to, and we do so by having locals as website managers. But underneath it all, we build everything on a single, shared blueprint. When we design a new feature, we don’t just build it for one site. We build it to level up the whole portfolio at once. It also makes expanding into a new market much easier. If a promising new region opens up tomorrow, we don’t have to start from scratch. We just drop in a product that’s already battle-tested and ready to go.
I’ve also set up teams around each GEO and manager, which include SEO specialists, content managers, and others, to ensure a smooth and efficient workflow.
Since you rely on a single blueprint, how do you manage the human element? How much freedom do your site managers have to experiment in their local markets versus sticking to the playbook?
Our site managers are the true experts in their specific regions, so they have total autonomy over their local content plans and figuring out what makes bettors in their area tick. They own that local strategy completely, while the blueprint just ensures they are building on a rock-solid foundation.
Because they are on the ground, I actually encourage them to constantly pitch product improvements. I always listen to their suggestions because a great idea shouldn’t just stay on one site. If a manager finds a feature that works incredibly well for their audience, we don’t just keep it there. We roll it into our core blueprint so the entire portfolio benefits from it.
The company has shifted toward building true digital platforms rather than just simple affiliate sites that rank. In practice, what is the biggest difference between those two approaches?
The biggest difference is value and retention. A simple affiliate site is transactional. It’s built entirely around SEO keywords just to capture a click, send the user to a sportsbook, and hope for a conversion. If Google tweaks its algorithm, that site is incredibly vulnerable because users have no real loyalty to it.
A digital platform, on the other hand, is an actual product. We aren’t just trying to get a click. We are trying to be a helpful place for the sports bettor. That means building features, community, and data hubs. It takes a lot more time and energy to maintain, but it turns a casual visitor into a loyal user. They don’t just find us on Google once. They bookmark the site and keep coming back because the product itself is valuable.
The World Cup is live right now. An event of this scale is a massive test for any affiliate. How did you approach the preparation for this global tournament from a product perspective, and what features did you ship to keep bettors engaged?
We knew the traffic spikes would be insane, so preparation actually started months ago. From a product perspective, the ultimate goal was instant utility. During a massive event like this, users want their information immediately, without any friction.
Feature-wise, we shipped an advanced match centre, a tournament bracket simulator, and worked heavily on upgrading our entire content strategy specifically for the World Cup. Because of the shared framework we talked about earlier, we didn’t have to build these tools site-by-site. Our blueprint allowed us to deploy these advanced features across all of our sports betting properties simultaneously, giving every region a premium product at the same time.
When the final whistle blows on the World Cup and we look back at the rest of 2026, what will have to happen for you to look back and say we absolutely nailed it?
On the data side, I want to look at our metrics and see a clear spike in returning users. That will be the ultimate proof that our platform strategy is actually working.
But our upgrades and feature improvements don’t just stop with the World Cup. We already have plenty of things in the pipeline, and we are planning a massive push right before the main European leagues kick off late this summer.
At the end of the day, I’ll know we nailed it if our site managers are effortlessly launching these new features, seeing the direct results of their work, and feeling like they have the absolute best tools in the industry to win their markets. That would be proof that we didn’t just build websites. We built a highly scalable affiliate product.
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