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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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Loud Launches, Quiet Exits Why Partner Culture Outlasts Partner Acquisition
London is a city built on institutions that never needed to announce themselves. The law firms on Chancery Lane, the private clubs in St. James’s they endure not through attention, but through trust accumulated over decades. Quietly. Consistently. Without a rebrand every two years. Which makes London an interesting backdrop for the affiliate industry’s annual conversation with itself. Because iGaming, by contrast, has mastered the art of attention.Conference floors are fluent in volume: oversized visuals, stacked merchandise, account managers with pitch decks and a practiced sense of urgency. Every programme is premium. Every stand is exclusive. What it rarely produces is what the spreadsheet actually needs: long-term ROI, partner retention, relationships worth more in year three than month one.
The Market Learned to Perform Premium. It Forgot to Practice It.
When an entire market adopts the same vocabulary premium, VIP, exclusive, top-tier the signal stops carrying information. The gifting mechanics follow the same logic: items chosen for the photograph rather than the relationship. With this approach the partner is the audience, not the counterpart.
The structural problem is this: markets that compete on noise attract partners who respond to noise, and lose them the moment a louder offer comes along. Attention is not loyalty. Activation is not retention.
High-performing affiliate partnerships share a different architecture: predictability over promises, honest communication over promotional language, consistency whether a relationship is new or years old. Strong partners don’t leave for marginal CPA improvements when the relationship itself has value they’d be giving up. That dynamic reduces churn, extends LTV, and compounds over time in ways no single activation can replicate.
Manor as Model: The Economics of Restraint
PlayamoPartners’ presence at iGB London stand H-60, 1–2 July operates on this logic. The Manor concept takes the British manor as its central metaphor: not a venue, but a model of relationships. There is an etiquette, a code, standards that everyone inside understands. Membership implies alignment.
The aesthetic is restraint. The underlying logic is economic. Trust, in this industry, has a measurable ROI that most programmes never stop to calculate because they’re too busy announcing it.
The Code of Honor: Giving the Industry Its Memory Back
At the centre of the Manor experience is a physical book not a lookbook or catalogue, but a Code of Honor: partner feedback, written by partners themselves, accumulated across events and years. A physical record implies that what partners say is worth keeping in a form that persists that the relationship has a history worth preserving.
The iGaming industry has become extremely efficient at forgetting. Campaigns replace campaigns. Account managers cycle through. Programmes pivot quarterly. The Code of Honor is a deliberate counter to that tendency. It treats reputation not as a marketing asset but as something that grows through repeated honest interaction. An archive of trust, built over time.
Recognition Over Raffle
Partners who contribute to the Code of Honor become eligible for recognition items including a MacBook Neo 13, iPhone Air, and iPad Air. Come by on 02.07 at 14 o’clock and collect your prize.
The framing matters. These are not raffle prizes. Recognition is relational: you are who you are, and that is acknowledged. One is a CPA model applied to gifting. The other is how relationships between people who respect each other actually function.
The partners the Manor is designed for are not the ones who show up for a giveaway they’re the ones who show up to engage, to leave something of their own behind, to participate in the ongoing record of what this programme is.
Continuity of Standards
This approach isn’t new for PlayamoPartners. Past recognition has included Samsonite, Hugo Boss, TAG Heuer, Cartier, YSL. At iGB London, partners at H-60 will find Cartier wallets and MacBooks among the acknowledgements.
Premium gifting delivered consistently, to partners aligned with programme standards, across multiple years and conferences, reads differently from a one-time budget line. It signals a stable set of values with no particular need for an audience.
What Remains After the Conference Floor Clears
Rates, tools, tracking platforms are table stakes. Any serious programme can match them within a quarter. What cannot be quickly replicated is culture: honest communication, payments that arrive without chasing, account managers who know your business well enough to have an opinion about it.
Manor of PlayamoPartners arrives at iGB London not as an activation, but as a position. Behind it: a system, a reputation, a code of conduct that predates this event and will outlast it.
Stand H-60 | 1–2 July | iGB London
Contact the team:
- Edgar @Nertevics — CEO, PlayamoPartners
- Slava @AMOSLAVA — Affiliate Manager Team Lead
- Anna @anna20bet — Affiliate Manager
- Andrey @Andrey_playamo — Affiliate Manager
- Barbara @BarbaraPlayamoPartners — Affiliate Manager
The post Loud Launches, Quiet Exits Why Partner Culture Outlasts Partner Acquisition appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Asia
PhilWeb Showcases Technology-Driven Growth Vision at SiGMA Asia 2026
PhilWeb Corporation has reinforced its position as a technology-driven company at SiGMA Asia 2026, highlighting its continuing transformation through digital innovation, scalable platform solutions and strategic technology investments aligned with the rapidly evolving digital economy in Asia.
As one of the Philippines’ established technology and platform providers, PhilWeb participated in SiGMA Asia 2026 to showcase its long-term vision centered on digital infrastructure, operational scalability, customer engagement technologies and future-ready platform development. The company’s presence at the international event reflects its broader strategy of strengthening its role within the growing technology, digital entertainment and fintech ecosystem in the region.
With more than 25 years of operational experience, PhilWeb continues to evolve alongside changing market demands and technological advancements. Over the years, the company has steadily expanded its capabilities through investments in platform modernization, integrated digital systems, payment technologies and data-driven operational tools designed to support scalable and efficient business operations.
As industries across Asia continue to undergo digital transformation, PhilWeb sees increasing opportunities in technology-enabled ecosystems where connectivity, automation, customer experience and operational efficiency play increasingly important roles in long-term business growth.
At SiGMA Asia 2026, the company highlighted initiatives focused on strengthening its digital ecosystem through improved platform capabilities, enhanced payment integration infrastructure and technology solutions designed to support seamless experiences across both physical and digital customer environments.
PhilWeb also emphasised the growing importance of integrated platforms and scalable digital operations as consumer behaviour continues to shift toward more connected and technology-driven experiences. The company continues to adapt to these evolving trends by exploring innovations that improve accessibility, operational flexibility and customer engagement.
Participation at SiGMA Asia 2026 also provided PhilWeb with opportunities to engage with international technology firms, fintech companies, digital infrastructure providers, payment solutions companies and regional business partners as it continues to strengthen its long-term growth strategy.
Beyond technology expansion, PhilWeb continues to prioritise governance, compliance-driven systems, operational transparency and sustainable business.
The post PhilWeb Showcases Technology-Driven Growth Vision at SiGMA Asia 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Balkans
Strong Customer Response Marks Successful Belgrade Future Gaming 2026 for NOVOMATIC
NOVOMATIC concluded a highly successful participation at Belgrade Future Gaming 2026, further reinforcing its strong presence in the Southeast European market. Throughout the exhibition, the company welcomed a steady stream of visitors to its stand, providing an excellent platform for strengthening existing partnerships, establishing new business contacts and discussing future opportunities with customers from across the region.
The comprehensive product showcase featured a broad selection of NOVOMATIC’s latest gaming innovations. Among the highlights were Impera PROLINK 2 and the internationally successful XTENSION LINK series, including Volumes 2, 3, 4 and 5 as well as XTENSION LINK Ultimate, all of which attracted strong interest from visitors thanks to their proven performance and engaging feature mechanics. Visitors also explored VISION LINK, NOVOMATIC’s latest multi-feature linked progressive concept, alongside the versatile GAMINATOR X5, renowned for its flexible game mix and customization options.
A particular highlight for the regional market was the Impera Line HD Edition 10 – Balkan Special, which generated significant interest thanks to its carefully selected game mix tailored specifically to local player preferences.
Taking center stage was the award-winning DIAMOND X QUATTRO 1.55J, whose striking design and immersive player experience made it a standout attraction on the show floor. The portfolio was further complemented by a premium V.I.P. X setup, including the V.I.P. X Royal 1.85 and, for the first time at a Balkan trade show, the V.I.P. X Galaxy 2.65, both showcasing NOVOMATIC’s commitment to delivering high-end gaming experiences for modern casino environments.
As in previous years, NOVOMATIC’s successful cooperation with long-standing partner FAZI contributed to a strong exhibition presence, while the popular ADMIRAL Bet Pub catering concept once again provided a welcoming atmosphere that encouraged networking and business discussions in a relaxed setting.
“The positive response we received throughout the show was truly outstanding. Belgrade Future Gaming remains one of the most important industry events in Southeast Europe and provides an excellent opportunity to engage directly with our customers and partners. We were delighted by the strong interest in our product portfolio, particularly the Impera Line
HD Edition 10 – Balkan Special and the first presentation of the V.I.P. X Galaxy 2.65 in the region. The many valuable conversations and promising business opportunities generated during the event once again demonstrated the strength of the Balkan market and the value of close collaboration with our customers. I would like to sincerely thank all visitors, customers, partners, and our dedicated team for contributing to another successful edition of Belgrade Future Gaming,” said Miloš Pejić, Regional Manager SEE at NOVOMATIC.
With a comprehensive portfolio of internationally proven products, regionally tailored solutions and premium gaming innovations, NOVOMATIC once again demonstrated its ability to meet the diverse requirements of the Balkan market. The successful outcome of Belgrade Future Gaming 2026 further highlighted the company’s strong momentum across Southeast Europe and created a solid basis for future growth and collaboration with customers and partners throughout the region.
The post Strong Customer Response Marks Successful Belgrade Future Gaming 2026 for NOVOMATIC appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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