Latest News

Evolution – Interim Report Jan-Sept 2020

Published

6 years ago

October 22, 2020

George Miller

Reading Time: 3 minutes

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.

iGaming Express

David Natroshvili Recognized as iGaming’s Leading Global Influencer

Published

26 minutes ago

June 2, 2026

Wladimir P.

david-natroshvili-recognized-as-igaming’s-leading-global-influencer

The annual ranking places the SPRIBE founder ahead of figures including Peter Jackson, Denise Coates and Ed Craven.

International industry publication iGaming Express has named SPRIBE Founder and CEO David Natroshvili the most influential person in the global iGaming industry in its annual ranking.

iGaming Express said Natroshvili “pioneered an entirely new category of crash games” and helped turn SPRIBE’s Aviator into a global hit. The publication added that SPRIBE’s growth and product approach have influenced player expectations and operator views on modern iGaming.

The ranking places Natroshvili ahead of U.S. President Donald Trump, Flutter Entertainment CEO Peter Jackson, Bet365 Co-CEO Denise Coates, and Stake Co-Founder Ed Craven.

“This recognition belongs to the entire SPRIBE team. Over the past few years, our goal has not simply been to build a successful product, but to create an experience capable of driving the industry in a new direction. I am delighted to see these efforts receive such high international recognition,” said David Natroshvili.

iGaming Express said Natroshvili’s influence extends beyond SPRIBE, pointing to innovation as a driver for creating new markets in iGaming.

The post David Natroshvili Recognized as iGaming’s Leading Global Influencer appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Conference

Danish regulator to speak at Gaming in the Nordics launch event

Published

26 minutes ago

June 2, 2026

Wladimir P.

danish-regulator-to-speak-at-gaming-in-the-nordics-launch-event

On Thursday, June 18, 2026, Gaming in the Nordics will bring together in Copenhagen key decision makers in the regulated (or soon-to-be-regulated) Danish, Swedish, Finnish, and Norwegian iGaming markets.

Gaming in the Nordics is the latest initiative from Gaming in Europe, which is well known for its annual Gaming in Holland, Gaming in Germany, and Gaming in Spain conferences.

The event will take place at the Better Collective HQ in Copenhagen, and will feature Mr. Anders Dorph, Director of the Danish Gambling Authority as its headline speaker.

Other confirmed speakers include:

Pontus Lindwall, CEO, Betsson
Jesper Søgaard, Co-Founder & Co-CEO, Better Collective
Morten Ronde, CEO, Danish Online Gambling Association (DOGA)
Fredrik Stenstrøm, Secretary General, Norway Association for Online Gaming (NBO)
Pekka Ilmivalta, Head of Office, Nordic Legal – Finland
Birgitte Sand, CEO, Birgitte Sand & Associates
Josh Hodgson, COO, H2 Gambling Capital
Peter-Paul de Goeij, Managing Consultant, QuodBonum.se (day chair)

Gaming in the Nordics founder, Willem van Oort commented: “We are extremely pleased that Mr. Anders Dorph has agreed to speak at the Gaming in the Nordics launch event. In my experience, it is always good to able to facilitate a dialogue between regulatory authorities and the industry – which in this case will be very capably represented by Betsson’s Mr. Pontus Lindwall, as well as several leading trade bodies. Although the Nordic markets are in varying states of regulation and market maturity, there nonetheless exist certain commonalities, which together provide a solid basis for the fruitful exchange of lessons learned and best practices.”

Launch event

This year’s Gaming in the Nordics launch event will be a small, half-day conference with a limited capacity for accommodating event attendees.

A full-size, annual Gaming in the Nordics Conference will be held in June in Copenhagen from 2027 onward.

Stay tuned for future updates!

Signup & waiting list

If you would like to attend this year’s Gaming in the Nordics launch event, please register your interest here: https://luma.com/605sboce

As only a very limited number of attendees can be accommodated, all registrants will initially be placed on a waiting list.

We will let you know as soon as possible whether we will have a seat available for you.

For press access, please contact: [email protected].

Video sessions

Key sessions of the Gaming in the Nordics launch event will be recorded and shared with the members of the Gaming in Nordics community.

If you would like to receive updates, including the links to the recorded sessions, please sign up for our Gaming in the Nordics mailing list at www.gamingin.eu.

Sponsorship opportunities available

Sponsorship and media partnership opportunities are available. Please contact Willem van Oort at [email protected] for more information.

The post Danish regulator to speak at Gaming in the Nordics launch event appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Avanti Studios

Avanti Studios finalises seed round

Published

26 minutes ago

June 2, 2026

Wladimir P.

Disruptive live casino supplier, Avanti Studios, has announced the finalisation of its second instalment, raising €5m in this round giving a total of €10m in seed funding.

Having only recently opened the opportunity up to investors, the latest investment round quickly became oversubscribed and closed on 19 May. The oversubscription reflects strong investor confidence in the company’s vision, strategy, and long-term prospects, while providing additional capital to accelerate its growth and commercial execution.

Genting Casinos UK, a first round investor, provided additional investment during this second round, underscoring its continued belief in the new live casino vertical Avanti Studios is building.

The participants of the second investment round join Avanti Studios at a critical stage of its journey, with the deployment of its innovative casino content planned to take place in the coming weeks, June 2026. Operators have voiced continued excitement in bringing new and innovative content to their players in Spain and beyond.

Gustaf Hagman, Co-Founder at Avanti Studios, said: “I’m incredibly proud of the investor group we’ve assembled. Their backing demonstrates not just a belief in our company, but a belief in the future, and I’d like to give a special thank you to the board of Genting Casinos UK for their continued support, guidance and the overall contribution they’ve made to our journey so far.”

Jonas Delin, Co-Founder at Avanti Studios, said: “Avanti is thrilled to have finalised its second stage of funding in what has been one of the biggest investment rounds in an industry start-up this year. We strongly believe that the future belongs to real-time, lifelike, interactive digital humans, and to see so many investors share this vision with us indicates one thing… this is only the beginning!”

The post Avanti Studios finalises seed round appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.