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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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ELA Games to Speak on Sustainable Growth at HIPTHER Prague 10th Anniversary Summit

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The Head of Business Development at ELA Games collaborates with industry colleagues to explore the forthcoming phase of scalability.

ELA Games is happy to share that Yaroslav Soloshenko, Head of Business Development, will serve as an expert panelist at the forthcoming HIPTHER Prague Summit 2026.

Celebrating its 10th anniversary, the Prague Summit is a focused event for leaders in gaming and technology across Central and Eastern Europe. On Day 2 (March 25, 2026) at 12:00 PM, Yaroslav will take the stage in the QUARTZ Room for a session called: “Game Innovation & Studio Growth: What Scales in 2026.”

Led by the esteemed industry personality Michael Caselli, the dialogue unites a panel of experienced experts, featuring Robert Lenzhofer (Hölle Games), Alexis Wicén (Scatters Group), Alessia Paiano, and Assaf Stieglitz. The session aims to investigate the realities of the contemporary gaming scene, aiding in differentiating between short-term experiments and the sustainable growth strategies that succeed in a competitive, regulated setting.

Yaroslav Soloshenko, Head of Business Development at ELA Games, said of the upcoming session: “Innovation in 2026 is defined by how a good idea adapts to the specific needs of the market. ELA Games is focused on the artistry of our games, making sure every animation and feature meets a standard of quality that itself is a core selling point for our partners. Scaling today requires us to push creative boundaries while finding new ways to maintain a competitive edge in a crowded and ever-changing market. It’s an honor to join such a distinguished panel at the Prague Summit, particularly as HIPTHER marks a decade of bringing together some of the most influential voices in the CEE region.”

The discussion will center on various critical aspects of studio development, such as:

Strategic Innovation Cycles: Syncing ambitious creative experimentation with the practical needs of product-market fit and scalable business success.

Efficient Distribution: Ways specialized studios can broaden their audience via strategic aggregation and partnerships with platforms.

Creative Adaptation: Preserving a studio’s artistic identity while effectively managing the changing technical and regulatory requirements of European markets.

The post ELA Games to Speak on Sustainable Growth at HIPTHER Prague 10th Anniversary Summit appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Cashpoint

EveryMatrix wins Cashpoint omnichannel turnkey platform deal in Denmark

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EveryMatrix has signed a landmark omnichannel agreement to provide turnkey technology for one of Western Europe’s leading betting and gaming brands. Under the deal, EveryMatrix will power over 1,000 sports betting terminals across 230+ shops nationwide, while also delivering a fully integrated online sportsbook platform and launching Merkur’s first online casino in the second half of 2026.

The agreement represents the second major Denmark-based turnkey deal for EveryMatrix in just two months, following Danske Spil’s selection of the provider to power its casino and bingo operations.

Cashpoint, set to rebrand as Merkur Bets once the platform migration is complete, holds strong market positions in Germany, Austria, Belgium, and Denmark, making it one of the most prominent betting and gaming operators across Western Europe.

The brand began searching for a modern technology partner in early 2025, aiming to implement a scalable, omnichannel solution capable of integrating sportsbook and casino offerings. The migration from its in-house system to EveryMatrix’s turnkey platform is scheduled to align with the start of the new football season, ensuring a seamless transition for customers.

Ebbe Groes, Group Co-CEO & Co-Founder at EveryMatrix, said:

“The Cashpoint and Merkur brands are among the most recognisable in Denmark and across Europe. Partnering with their team to deliver a project of this scale is a privilege, and it demonstrates the growing trust tier-1 operators and lotteries are placing in EveryMatrix technology.”

Mathias Dahms, Managing Director Sportsbetting at Merkur Group, added:

“Merkur Bets is taking a major step forward this year. By switching to EveryMatrix technology and rebranding, we are positioning the brand for continued growth and success in Denmark. EveryMatrix offers the ideal foundation to support our omnichannel strategy and future expansion.”

This agreement reinforces EveryMatrix’s position as a leading provider of turnkey sportsbook and casino solutions, delivering both in-store and online experiences for operators across Europe.

The post EveryMatrix wins Cashpoint omnichannel turnkey platform deal in Denmark appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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EGT

24 Years Strong: EGT’s Commitment to Excellence and Timeliness

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EGT was established to quickly rise as one of the leading manufacturers and suppliers of gaming equipment worldwide. Today, as the organization marks its 24th anniversary, its narrative can be expressed in years of development, in hours of output, in minutes of accuracy, and even in seconds of engineering brilliance. Let’s reflect on how it accomplished this success.

Throughout this time, the company developed and patented more than 700 products and manufactured over 200,000 gaming devices, which have been placed in many of the most prestigious venues globally.

Numerous advancements from the EGT collection, including the Egypt Quest and Bell Link jackpots as well as the cabinets from the Premier, General, and Supreme series, have established benchmarks within the industry, defining its standards and making EGT synonymous with unwavering quality.

EGT has established 3 factories where it produces its goods and meets orders for clients globally. The company has even taken an additional step, successfully completing its production cycle at 360 degrees, which enables it to supply nearly everything required for manufacturing its machines.

This comprehensive production system enables EGT to assess its efficiency not only over years of expansion but also in seconds, minutes, and hours on the manufacturing floor.

Thanks to this, in just 24 seconds, the machines in the company’s production lines cut over 40 meters of cable used in EGT’s products. At this speed, the height of Mount Everest could be reached in under 90 minutes.

In just 24 minutes, over 16,000 components used in EGT’s products pass through the production process. At this rate, a venue the size of Madison Square Garden could be filled in about 30 minutes.

In 24 hours, 420 slot cabinets come off EGT’s production lines. Placed side by side, they would stretch almost the length of three football fields.

Impressive figures, right? Yet they represent only a fraction of what EGT has achieved over the past 24 years.

EGT is continually expanding its presence, with its products now available in more than 100 markets across 5 continents. Over 4,500 staff members across 28 global offices guarantee that the business remains close to its clientele.

In the last 24 years, EGT has been involved in more than 300 exhibitions globally. It has grown its family by adding 2 subsidiaries – EGT Digital and EGT Steel Production, which have allowed it to enhance its product offerings and now provide an even broader array of solutions to its existing and prospective clients and partners.

Throughout this time, EGT has garnered more than 30 accolades, serving as clear evidence of its standing as a leader in the gaming sector both nationally and internationally, along with its recognition as one of the most reliable firms in the Bulgarian economy overall.

Furthermore, EGT belongs to various Bulgarian and international business and industry associations. It holds more than 10 certifications for its work quality and presently utilizes systems like SAP, supported by internationally acknowledged testing labs like GLI and BMM, ensuring that the company’s products comply with all industry standards.

None of these achievements could have been realized without the company’s most important resource – its staff. EGT has established and fostered a culture of assistance and motivation for its staff to realize their potential and advance their careers within the company. Consequently, in just the past 5 years, its staff have participated in more than 200 varied courses and training sessions to enhance their professional skills and qualifications.

Simultaneously, the organization ensures a healthy balance between professional and personal life by enacting various family-focused social policies and allowing individuals to engage in their interests. EGT fields sports teams in football and athletics that frequently engage in multiple tournaments and competitions, showcasing impressive performances.

The company’s artists have the opportunity to showcase their individual creations in a unique exhibition that EGT hosts each year, and in 2025, the display was open to the public for the first time.

Annually, EGT offers internship programs that allow numerous young individuals at the start of their careers to gain essential knowledge and skills, with some going on to work at the company and utilizing this knowledge in practical applications at EGT.

Consequently, the company takes pride in a substantial percentage of long-serving employees—20% of the workforce has more than a decade of experience with the organization, which is an outstanding accomplishment.

In addition to all this, EGT continues to be accountable to society. Throughout the years, the organization has participated in various charitable initiatives focused on safeguarding the environment and assisting vulnerable individuals and those in distress.

EGT also actively backs various initiatives to encourage responsible gaming, enhancing its reputation as a developer of cutting-edge gaming solutions that lead industry trends.

Vladimir Dokov, CEO of EGT, shared: “Inspired by all these milestones achieved over the past 24 years, we have set ourselves no less ambitious goals for 2026. Along with further modernizing our production facilities, entering new markets and strengthening our leadership on a global level, an equally important priority for us will be to continue contributing to the improvement of the educational and professional environment in the country. This way, we will be able to prove once again that we not only know how to do successful business, but also that we are a socially responsible company that contributes to the overall development of society. This is the true meaning of excellence for us.”

Happy 24th birthday, EGT. Here’s to many more years where every second counts.

The post 24 Years Strong: EGT’s Commitment to Excellence and Timeliness appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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