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Evolution – Interim Report Jan-Sept 2020

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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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Brazil advances integrity agenda amid strong market growth

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Brazil’s regulated betting market continues to gain structure and momentum, as the country balances regulatory consolidation, integrity safeguards, and commercial growth.

Over the past week, key developments, from federal policy implementation to strategic partnerships and product innovation, highlight how the ecosystem is maturing ahead of major global sporting events.

Government launches national policy to combat match-fixing

A major regulatory milestone was reached with the creation of the National Policy for the Prevention and Combating of Sports Manipulation (PNPEMR). Established through a joint ordinance by the Ministries of Sports, Finance, and Justice, the policy introduces a comprehensive national framework designed to address integrity risks in sports.

The initiative is structured around four central pillars: regulation, prevention, monitoring and enforcement, aiming to protect the credibility and unpredictability of sporting competitions in Brazil.

The policy emphasizes interinstitutional cooperation, bringing together public authorities, sports organizations, betting operators and international bodies.

Among its key measures are:

  • Standardization of reporting flows for suspicious betting activity
  • Continuous education programs for athletes, referees and sports officials
  • Protection mechanisms for whistleblowers
  • Strengthening of criminal investigations targeting organized match-fixing networks

Under the framework, the Ministry of Sports will coordinate implementation, while the Ministry of Finance will oversee betting regulation and operator compliance. The Ministry of Justice and Public Security, alongside the Federal Police, will lead intelligence-sharing and enforcement efforts, particularly in cases with interstate or international scope. See DOU

A multi-stakeholder governance committee will be responsible for monitoring progress and proposing adjustments, ensuring that the policy evolves alongside the market.

This move reinforces Brazil’s intention to align regulatory oversight with global integrity standards, particularly relevant as the country prepares for high-volume betting scenarios during major international competitions.

Sportradar expands iGaming strategy with Playradar launch

On the corporate front, Sportradar announced the launch of Playradar, a new brand dedicated to its iGaming vertical, signaling a strategic shift toward more integrated and immersive betting experiences.

The new offering is built around hybrid gaming concepts, combining real-time and historical sports data with live streaming and casino content.

Among the key features is a 24/7 live experience hub, where users can engage simultaneously with sports events and interactive gaming formats.

The initiative will be led by Edo Haitin, a seasoned executive with over two decades of experience in live gaming and product development.

The company plans to roll out Playradar starting in 2026, initially targeting regulated markets in the UK, North America and Latin America.

According to CEO Carsten Koerl, the move represents a natural evolution of the company’s capabilities, leveraging its existing infrastructure in data, streaming and user behavior analytics to enhance engagement and monetization across the player lifecycle.

Haitin also emphasized the strategic vision behind the launch, highlighting the ability to combine technology and content in line with evolving market demands, particularly as operators look for differentiated and immersive user experiences.

Importantly, Playradar will operate exclusively in regulated environments, maintaining a strong focus on responsible gaming and integrity, aligning with broader industry and regulatory trends.

Playson strengthens Brazilian footprint through Betnacional partnership

Further reinforcing Brazil’s position as a high-growth market, Playson expanded its regional presence through a new partnership with Betnacional, a leading local operator owned by Flutter Entertainment.

The agreement will see a portfolio of Playson’s top-performing titles integrated into Betnacional’s platform, including 4 Pots Riches, Diamonds Power, and Sugar Teddy x1000, all recognized for their strong performance in regulated markets and engaging gameplay mechanics such as Hold and Win.

The partnership reflects a broader industry trend toward localization and mobile-first strategies, as operators seek to better align content with regional player preferences.

Cristhian Zito, Head of LatAm at Playson, highlighted the strategic importance of the deal:

Partnering with Betnacional is an important milestone for us in Brazil. It is a highly respected local brand with a deep understanding of its audience, and we are confident our content will resonate strongly with its players.

This launch further strengthens our position in the market and reflects our commitment to delivering engaging, high-performing games to operators across Latin America.”

From the operator’s perspective, Frederico Cunha, Head of Commercial at Betnacional, also emphasized the value of the collaboration:

We are delighted to welcome Playson’s portfolio to Betnacional. Their games are recognised for their quality, strong mechanics, and consistent performance, making them a valuable addition to our offering.

We look forward to working closely together and bringing an enhanced entertainment experience to our players.”

A market balancing integrity and growth

Taken together, this week’s developments illustrate a clear dual trajectory in Brazil’s betting sector: strengthening institutional and integrity frameworks while simultaneously attracting investment, innovation and international partnerships.

As regulatory structures become more sophisticated and collaboration between stakeholders deepens, Brazil is positioning itself not only as a compliant and secure market, but also as a central hub for growth in Latin America’s gaming industry.

SportyBet appoints DJ Khaled as global ambassador to expand connection between sports, culture and entertainment

SportyBet has announced DJ Khaled as its new global ambassador, strengthening its positioning at the intersection of sports, music, and contemporary culture.

He joins a global roster that includes José Mourinho and Éder Militão, reinforcing the company’s strategy of connecting with audiences through entertainment. The partnership will roll out across key markets such as Brazil, the United States, Mexico, and parts of Africa, supporting SportyBet’s expansion as an experience-driven platform.

According to Elias Gallego, Vice President of Sporty Group, the collaboration reflects the company’s focus on partnering with culturally relevant figures to engage diverse audiences, particularly in markets like Brazil where sports and lifestyle are closely linked.

Deeper push into music and entertainment

The move also signals a broader effort by Sporty Group to integrate music into its entertainment ecosystem. Earlier this year, the company partnered with Burna Boy on the “For Everybody” project, blending music, football, and global culture.

In this context, DJ Khaled’s appointment further strengthens a strategy centered on storytelling and fan engagement, especially in regions where sports and music are deeply connected.

Global mindset and brand evolution

DJ Khaled highlighted the shared vision behind the partnership, emphasizing mindset, authenticity, and global connection with fans.

The agreement reinforces SportyBet’s evolution beyond sports betting, positioning the brand within a broader entertainment ecosystem. In Brazil, it aligns with the company’s ongoing growth and its focus on delivering integrated experiences that combine content, culture, and user engagement.

The post Brazil advances integrity agenda amid strong market growth appeared first on Americas iGaming & Sports Betting News.

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ReferOn Shortlisted for “Best Affiliate Software 2026” at SiGMA Awards South America

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ReferOn, the next-generation affiliate management platform, has been shortlisted for the “Best Affiliate Software 2026” category at the upcoming SiGMA Awards South America.

The nomination recognises ReferOn’s continued growth and the platform’s ability to support operators with scalable, transparent, and efficient affiliate management solutions in increasingly complex markets.

ReferOn has become a trusted foundation for businesses worldwide looking to scale their operations. With rapid adoption across the globe, the platform is now the go-to choice for companies that need to scale quickly and reliably. Because the platform handles large volumes of data with ease, it is a vital tool for teams that need speed and precision. In such a competitive market, we provide the accuracy and simplicity required to stay ahead, allowing our users to focus on their goals without the technical stress.

A New Chapter: The Era of “Refie”

This nomination arrives at a defining moment for the company, after the 2025 launch of Refie, the latest evolution of ReferOn. We have humanized B2B software with Refie, an integrated assistant that acts as a helpful navigation layer for our users. This milestone completely removed the struggle of getting started on the platform by visually guiding people through complex steps, making sure everyone can find their way without any stress or confusion.

Refie transforms repetitive daily tasks into an engaging experience that actively minimizes human error. It was specifically designed to eliminate the manual bottlenecks affiliate managers have traditionally faced, making their daily operations much faster and more efficient.

Alex Bukin, General Manager at ReferOn, commented: “Being shortlisted for the SiGMA Awards South America is a strong recognition of the progress our team has made. We are focused on building technology that simplifies affiliate management and gives operators clearer, faster access to the data they need to grow. With Refie and our upcoming developments, we’re continuing to move in that direction”.

Ambitious Plans for 2026

In 2026, ReferOn will upgrade Refie with sophisticated gamification to boost user engagement and streamline daily tasks for affiliate managers. These updates will introduce personalized, smart features, establishing a new industry benchmark for affiliate technology.

Cast Your Vote

We invite all industry peers and partners to support the work we’re doing. If you are a registered delegate attending SiGMA South America 2026, your voice matters.

  • Award Category: Best Affiliate Software 2026
  • How to Vote: Voting is open exclusively to delegates who hold valid event tickets. Please visit the official SiGMA Awards portal to cast your vote for ReferOn.

The post ReferOn Shortlisted for “Best Affiliate Software 2026” at SiGMA Awards South America appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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ELA Games Contributes to Discussions on Scalable iGaming Ecosystems and Studio Innovation at HIPTHER Prague Summit

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ELA Games recently took the stage at the HIPTHER Prague Summit, joining top industry leaders to discuss the rapidly evolving landscape of the iGaming sector. Represented by Yaroslav Soloshenko, Head of Business Development, the studio participated in a forward-looking panel focused on building a more scalable iGaming ecosystem and advancing game innovation for 2026 and beyond.

Rather than just looking at incremental changes, the panel challenged speakers to envision an ideal, universal platform of the future before tackling everyday industry challenges. From there, the conversation shifted to real-world strategies, exploring how enhanced operator-supplier collaboration, gamification, and advanced platform architecture will shape the next generation of iGaming.

One focus of the session was the ongoing evolution of game development and distribution. The group highlighted the necessity of building bespoke, trust-based relationships with operators to secure the best visibility in increasingly crowded game libraries. Tied to this was the critical importance of early operator feedback and MVP (Minimum Viable Product) testing, with panelists noting that smaller studios often have a distinct advantage in implementing operator-driven changes faster than larger competitors.

The topic of artificial intelligence was also raised, with the point made that some studios already have proof-of-concept for fully AI-generated slots. This led the panelists to tackle the relationship between AI and traditional game design, weighing the balance between mass-produced, AI-generated content and the slower, human-led craftsmanship required to build higher-value games.

Addressing the realities of market distribution, the panel discussed how operators are becoming much stricter about the number of games they release to prevent market oversaturation. They also examined how rigorous testing rules in regulated regions can significantly delay product launches. Weighing in on these challenges, Soloshenko brought ELA Games’ forward-thinking perspective to the table, advocating for the ideal of a single global license to reduce regulatory barriers and accelerate market entry.

During the session, Soloshenko emphasized the necessity of uniting departments to achieve complete, A-to-B game design. He stressed the fundamental alignment required between product and business teams, noting that because the business division operates on the frontline of the market—tracking industry changes and operator demands—they must actively help guide the product’s direction. To achieve this, he advocated for transitioning away from a factory-line style of production in favor of a “boutique” approach, where all teams collaborate intimately from the initial project kick-off all the way to release day.

“Participating in the HIPTHER Prague Summit gave us a great opportunity to explore how development strategies must adapt to current industry realities,” said Yaroslav Soloshenko, Head of Business Development at ELA Games. “The foundation of our approach is continuous collaboration, both internally and externally. By working as closely as possible with operators to share early MVPs, we gather invaluable feedback. When those insights are handed directly to a unified development team, it allows us to consistently develop titles crafted exactly for what the market needs at any given time.”

Being a part of these high-level industry talks is part of ELA Games’ strategy to remain closely aligned with operator needs and player expectations as the market evolves.

Play the demo and other games here: www.elagames.com/our-games

The post ELA Games Contributes to Discussions on Scalable iGaming Ecosystems and Studio Innovation at HIPTHER Prague Summit appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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