Industry News

Evolution Gaming – INTERIM REPORT FOR JANUARY-MARCH 2020

Published

6 years ago

April 24, 2020

George Miller

Reading Time: 3 minutes

Evolution released its Interim Report for January-March 2020.

First quarter of 2020 (Q1 2019)

Operating revenues increased by 45% to EUR 115.1 million (79.3)
EBITDA increased by 79% to EUR 64.1 million (35.9), corresponding to a margin of 55.7% (45.3)
Profit for the period amounted to EUR 54.2 million (28.6)
Earnings per share before dilution amounted to EUR 0.30 (0.16)

Events during the first quarter of 2020

Continued high demand generates a positive effect on margin development.
Adaptation of operations as a result of covid-19 to ensure the operation and safety of employees.
Repurchase of 338,000 shares in order to improve the capital structure by reducing the capital, and thereby creating added shareholder value.

Summary of the first quarter 2020

Comments from Group CEO Martin Carlesund:

“The spread of COVID-19 has put the world in an exceptional and challenging situation which has also meant operational trials for Evolution. So far, we have handled the situation in a good way, and financially, Evolution has started 2020 very strongly in terms of both growth and profitability.

Revenues for the first quarter amounted to EUR 115 million, an increase of 45 percent compared to the first quarter of 2019. EBITDA amounted to EUR 64 million with a margin of 55.7 percent. With a good financial start to the year, great confidence ahead of the upcoming product launches and a good momentum at the start of the second quarter, I am more certain of our objective for 2020 to improve the margin level compared to 2019. Together, all employees did a fantastic job during the first quarter. I am deeply grateful for the energy and determination with which we have taken up the challenge – we have step-by-step, methodically moved forward every day. Of course, this work continues as we work to stay ahead of the developing situation. Our main priorities in dealing with the COVID-19 situation are to minimize the risk of spreading the virus and to create a safe workplace for our employees as well as to maintain the operation for our operators. We continue to comply with all the requirements from the authorities in the countries we operate in, and in many cases we have taken more far-reaching initiatives. Thanks to the extensive measures that have been implemented in terms of social distancing, changed working processes and routines for our employees, our operations have been able to continue without any large negative effects. However, in several of our studios, we operate with fewer tables compared to normal, and our studios in Georgia and Spain have been temporarily closed during limited periods. During these periods, a large share of the traffic has been managed by the company’s other studios. To be a global company with sites across multiple territories has been an important factor during these times. With that said, our studios in Latvia and Malta are important hubs from which several of our most popular titles are broadcasted.

We have seen an increased and strong demand for our products all through the first quarter. During the end of the quarter the absence of sporting betting games likely also favoured growth in our products. This circumstance effects also the start of the second quarter and we now see many new players being introduced to the Live segment. All in all, this means that we have a very good start to the year so far, but there will be also continuous challenges as we have not seen the end of the development of COVID-19 yet.

We continue unabated with investments in both studios and new games. During ICE in London earlier this year, 12 new titles were announced, of which two went live during the first quarter; Speed Blackjack and Lightning Baccarat. Today, 23 April, we are launching Mega Ball – including a First Person version. Mega Ball is our first game in the lottery vertical. During its beta phase, the game has exhibited a high attraction and it will be interesting to follow the games development. In addition, we will extend our First Person portfolio with three more launching in the second quarter. Another two table games will also be launched during the quarter, Power Blackjack and Baccarat Multiplay.

The construction of our new studio in Pennsylvania continues but with a postponed timetable due to the COVID-19 situation. However, our aim to launch it before year-end remains. Michigan has accelerated its casino regulation process and we hope that the state soon will be the third regulated market in the US. In South Africa we have received a National Manufacturer license. The license means that Evolution now is able to offer its and the subsidiary Ezugi’s products to all licensed gaming operators in South Africa.

To conclude, I am proud of how we have started off the year from a financial perspective, but even prouder of how we have handled these difficult times from an operational standpoint. All employees have showed that they are fast-paced, flexible and that even in hard circumstances they are able to maintain their focus on our given path; to continue to increase the gap to the competition and to strengthen our leading position.”

Carmen Alexander

Entain’s Pitching In Initiative Crowned Grassroots Sports Initiative of the Year

Published

1 day ago

November 25, 2025

Niji Narayan

entain’s-pitching-in-initiative-crowned-grassroots-sports-initiative-of-the-year

Reading Time: 2 minutes

Entain’s Pitching In initiative has beaten off fierce competition to be named Grassroots Initiative of the Year at the Global Football Industry Awards. Launched by Entain in 2020, the trailblazing initiative has made a huge impact at the non-league level of England’s national game.

Pitching In is the title sponsor of the Isthmian, Northern Premier and Southern Leagues – collectively known as the Trident Leagues – that comprise 264 clubs at Steps three and four of the non-league pyramid.

Pitching In, however, has always been about more than a flagship sponsorship. At the heart of the initiative is the ambition to enhance engagement between football clubs and their local communities. This led to Entain being the founding partner of the Trident Community Fund (TCF).

The TCF was launched to help clubs establish and expand community initiatives, maximising the remarkable impact that grassroots football clubs have on their local area. Every club in the Trident Leagues is encouraged to apply for a grant of up to £5000 annually to support community initiatives. The TCF has now supported more than 150 such projects, helping to expand youth, women’s and walking football, as well as supporting initiatives focusing on local upskilling, tackling anti-social behaviour and supporting local veterans and food banks.

In 2022, Pitching In launched the Volunteer Hub to provide a one-stop online portal for clubs to post volunteering vacancies and for local people to sign up and get involved.

Pitching In’s contribution to the grassroots game has now been recognised at the Global Football Industry Awards, a landmark global ceremony which brings together industry giants and trailblazers from every corner of the football ecosystem.

Pitching In was up against the likes of McDonalds, Barclays, Adidas, Nike and Coca-Cola, who were among the other shortlisted nominees for the Grassroots Initiative of the Year prize. Hosted by football royalty – Jamie Carragher and Peter Crouch – the awards celebrate the visionaries, pioneers and change-makers powering world football from behind the scenes.

Stella David, CEO of Entain, said: “We are delighted to see Pitching In recognised in this manner. Football is central to our business, which is why we feel it is so important to invest in the sport at the grassroots level, playing our part in bringing clubs and their communities closer together.

“When we started this project back in 2020, non-league clubs – and English football more generally – were staring into an uncertain future amid the Covid-19 pandemic.

“The grants Pitching In provided at that time proved crucial and we have continued to grow our relationship with the more than 260 clubs, who are the backbone of the English game, over the time since. We love supporting grassroots football and are excited by how this partnership can grow and evolve further.

“We would like to thank the Northern Premier League, Isthmian League and Southern League for their continued support, along with every single volunteer who gives up their time for their local football club. The game at this level could not run without you and Pitching In will continue to do what we can to highlight your invaluable contributions.”

Carmen Alexander from the Global Football Industry Awards added: “Congratulations to Entain and all 2025 Global Football Industry Award winners.

“Our judges were impressed by the commitment Entain has shown to grassroots football over a prolonged period of time and particularly the Trident Community Fund, which continues to make a tangible difference to non-league clubs across the country. Entain is very worthy of this recognition.”

The post Entain’s Pitching In Initiative Crowned Grassroots Sports Initiative of the Year appeared first on European Gaming Industry News.

Industry News

Sky Bet Relocates Headquarters to Malta

Published

5 days ago

November 21, 2025

Niji Narayan

Reading Time: < 1 minute

Sky Bet has relocated its headquarters to Malta, a move that could cut its UK tax bill by tens of millions of pounds a year. The change will mean less money for the government at a time when the public finances are under strain.

The chancellor needs to increase tax revenues and is under pressure to levy higher duties on the betting industry – something the industry is aggressively campaigning against. Sky Bet, which describes itself as “the UK’s No. 1 betting app,” has moved its sportsbetting business to the Maltese branch of a new UK company, SBG Sports Limited.

Flutter Entertainment PLC, Sky Bet’s parent company, first told staff about the move in June, alongside a plan to make around 250 people in the UK redundant. At a meeting which was live-streamed across Flutter’s “UK and Ireland” business, workers in Leeds, Sunderland, London, Dublin, Gibraltar, Porto and Cluj were told the relocation of Sky Bet to Malta was driven by a “need to operate more efficiently” and to reduce costs.

Steve Birch, chief commercial officer of Sky Betting and Gaming, said that from November 1, “day-to-day commercial and marketing decision making will take place in Malta,” although Sky Bet’s Leeds office would continue to be one of Flutter’s largest.

The post Sky Bet Relocates Headquarters to Malta appeared first on European Gaming Industry News.

financial results

GiG Software PLC Q3 Trading Results

Published

5 days ago

November 21, 2025

Niji Narayan

Reading Time: 2 minutes

GiG Software Plc, a leading B2B iGaming technology company, has announced its financial results for the third quarter ended 30 September 2025 (Q3 2025).

Key Operational Highlights

• Delivered three launches across Q3 2025, including GiG’s market-leading sportsbook in the UK, with two additional launches released following the end of the quarter

• Ongoing new business momentum continued, with five commercial agreements signed, including an agreement to supply the technology to a European Lottery alongside new business wins targeting the Brazilian market

• Continued progress against the Company’s key strategic growth priorities, in particular leveraging AI across the iGaming vertical

• Post quarter end, the Company entered into a commercial agreement with a European Operator to provide platform and sportsbook services to the French market.

Financial Summary of Q3 2025

• Q3 2025 revenue of €9.7 million (Q3 2024: €7.4 million), up 31% YoY

• Q3 2025 Adjusted EBITDA for the third quarter of 2025 increased €2.3 million to €1.2 million (Q3 2024: loss of €1.1 million) at a margin of 13% (Q3 2024: -15%)

• Q3 2025 operating loss reduced to €3.5 million (Q3 2024: underlying loss of €9.7 million)

• Cash and cash equivalents balance of €4.7 million as at 30 September 2025 (30 September 2024: €10.0 million; 31 December 2024: €6.4 million).

At the end of Q3 2025, GiG received €11m in relation to the Company’s directed share issue. In light of this, the Board is satisfied with the current strength of the Company’s Balance Sheet and, in the interest of all shareholders, do not currently envisage the need for additional funds.

Results for the First Nine Months of 2025

Revenue for the first nine months of 2025 (9M 2025) was up 22% YoY to €28.0 million (9M 2024: €23.0 million)

Adjusted EBITDA for 9M 2025 amounted to €2.6 million (9M 2024: underlying loss of €3.1 million), at a margin of 9% (9M 2024: -13%)

Operating loss for 9M 2025 reduced to €11.6 million (9M 2024: underlying loss of €22.1 million)

Richard Carter, Chief Executive Officer of GiG, said: “We continue to be encouraged with our ongoing financial and operational progress across the business. Our new business momentum has been supported by a number of key strategic new business wins, including recent gains targeting the Brazilian market and GiG securing a major European Lottery, marking our first entry into the lottery vertical.

“Q3 represented another period of progress for GiG and further evolution of the business. We continue to refine our go-to-market strategy and evolve our highly scalable technology platform complemented by an increasingly data-driven, AI-empowered operating model.”

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