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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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executive-moves
Paysecure hires Entain’s Ganesh Iyer as Head of Product
The payment orchestration platform also appoints Lili Piper as Senior Partnership Manager and adds infrastructure and blockchain leads.
Paysecure has appointed Ganesh Iyer, formerly of Entain, as Head of Product, as the payment orchestration platform looks to scale internationally across iGaming and global ecommerce.
Paysecure said Iyer will lead the next stage of product design. At FTSE 100-listed Entain, he led Global Payments across 20+ regulated markets, managing a team of seven Product Managers and distributed engineering squads.
The company also named Lili Piper as Senior Partnership Manager. Piper previously worked as Business Development Director at Volt.io and Senior Business Development Manager at Paysafe, and will focus on growing revenue from Paysecure’s partner network and adding strategic partners to expand payment method choice for clients.
Paysecure added that it has made further hires over the last two months, including Head of Infrastructure and Head of Blockchain, as it expands its technical footprint.
Ganesh Iyer, Head of Product, Paysecure, commented, “After time at Entain, I am pleased to join the Paysecure team and having worked on the operator side of the orchestration space, I can’t wait to get started. I’m looking forward to refining our products to clearly address the deep needs of our client personas, and surface clear product and functionality feature sets that differentiate us in our market as a challenger brand.”
Amit Hooja, Co-Founder and CEO at Paysecure, said: “We’re excited to welcome Ganesh and our new colleagues to the Paysecure team. Ganesh will spearhead our product development, and there’s a shared sense of purpose towards the work we are doing, which we believe is game changing in the payment orchestration space. We look forward to bringing new products to the market and continue to lead the way in the sector”.
The post Paysecure hires Entain’s Ganesh Iyer as Head of Product appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Affiliate Management
ReferOn shortlisted for Best Affiliate Management Platform at iGB Awards 2026
Winners will be announced on July 2 during iGB L!VE week in London.
Affiliate management platform ReferOn has been shortlisted for “Best Affiliate Management Platform” at the iGB Affiliate Awards 2026. The winners will be announced live on July 2 during iGB L!VE week in London.
ReferOn said the nomination reflects its recent growth and product development, positioning the platform for high-volume affiliate programmes. The company said it processes “millions of data points” across partner networks and automates operational workflows to reduce admin overhead for operators and affiliates.
Alex Bukin, CEO at ReferOn, commented on the shortlisting: “Being shortlisted for an iGB Affiliate Award is a significant milestone for our team. As affiliate programmes scale, complexity often becomes the biggest obstacle to growth. Our goal is to remove that complexity by giving operators clearer insights, stronger automation, and full control over their affiliate operations. This nomination reflects the direction in which we’re continuing to invest in.”
The company also pointed to a recent platform update, Refie, described as a new user experience layer aimed at simplifying navigation of complex workflows. ReferOn said Refie provides clearer visual guidance across onboarding screens and system state pages, with the goal of improving visibility across operational processes.
ReferOn said it will attend iGB L!VE London to meet partners, operators, and affiliates.
The post ReferOn shortlisted for Best Affiliate Management Platform at iGB Awards 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
GGPoker
GGPoker opens satellites for WSOP Circuit CDMX México 2026
Big Bola Casinos hosts the stop at Hotel Barceló Santa Fe in Mexico City from Aug. 31 to Sept. 11, with online qualifiers running June 28–Aug. 23.
GGPoker has launched online satellite tournaments for WSOP® Circuit CDMX México 2026, a live series scheduled for August 31 to September 11 at Big Bola Casinos in CDMX, México, hosted at Hotel Barceló Santa Fe.
According to the company, the WSOP Circuit stop will include 12 World Series of Poker® gold ring tournaments, alongside side events, VIP activities, and international media coverage.
“WSOP Circuit CDMX calls on the region’s top poker talent to chase glory in Mexico, combining high-stakes competition with the electric, legendary energy of a true global metropolis” said Juan Carreño, Head of Spanish Latam at GGPoker.
GGPoker’s posted satellite schedule runs from June 28, 2026 to August 23, 2026 (UTC +0), with weekday $5 daily satellites feeding $33 steps, weekday $33 steps into a $215 weekly final (2 seats guaranteed), a Saturday freebuy (4x $33 daily steps guaranteed), and Sunday “last chance” and weekly final events.
The company said each event champion in CDMX México will also receive a $5,000 package to this year’s WSOP Paradise in the Bahamas, in addition to the prize pool payout and a WSOP Circuit gold ring.
The post GGPoker opens satellites for WSOP Circuit CDMX México 2026 appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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