Industry News
Evolution Gaming – INTERIM REPORT FOR JANUARY-MARCH 2020
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.”
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Industry News
Neosurf appoint Laura Moore as Chief Strategy & Operations Officer
Neosurf, the cash-to-digital payments provider with responsible gaming at its core, has appointed Laura Moore as Chief Strategy & Operations Officer following a successful period supporting the company as an external consultant.
Now joining Neosurf’s senior leadership team, Moore will oversee the company’s corporate strategy and global expansion efforts. Her responsibilities will include identifying potential M&A opportunities and developing strategic partnerships to support the business as it enters its next stage of growth.
In her new role, Moore will also lead Neosurf’s global operations teams, drawing on her extensive experience in consumer technology, platform development and senior management to ensure the delivery of seamless, secure and compliant payment services for millions of users worldwide.
Alongside this, she will play a key role in restructuring several of the company’s core operational processes, overseeing areas such as global settlements, treasury management, risk control and regulatory compliance. The aim is to build a stronger operational framework capable of supporting Neosurf’s long-term strategic ambitions.
Moore brings experience from a number of major B2B and B2C organisations, including Vodafone and Sky, and is expected to combine strategic leadership with hands-on expertise as she works to strengthen operational alignment and foster a culture of continuous improvement within the company.
She is also the co-founder of LIFT as we Climb, an initiative focused on supporting and advancing women in the technology sector, and is widely recognised as a thought leader within the industry.
Laura Moore, Chief Strategy & Operations Officer at Neosurf, said:
“I’m both excited and honoured to take on the role of Chief Strategy & Operations Officer at Neosurf at what is clearly a pivotal moment in the company’s evolution. As a global leader in online payments, my focus will be on driving sustainable growth, ensuring operational excellence and putting the scalable frameworks in place that will support the company’s continued expansion.”
Andrea McGeachin, Global CEO of Neosurf, added:
“I think I speak for everyone at Neosurf when I say we’re absolutely delighted to welcome Laura as a full member of our senior leadership team. As an experienced global strategist, a recognised thought leader and a strong advocate for women in technology, Laura brings both the vision and expertise needed to make a real impact. We’re excited to see how her leadership will help take the company to the next level as we continue to grow.”
The post Neosurf appoint Laura Moore as Chief Strategy & Operations Officer appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
AI
BetGames research reveals more than 70% of players failed to recognise AI avatar gameshow presenters
BetGames has revealed the results of a research project testing AI-generated presenters on its live game shows, finding that fewer than 30% of players realised the hosts were artificial — and that the change produced no significant impact on player behaviour.
For the experiment, the supplier introduced AI avatars designed as digital replicas of real presenters, quietly deploying them on one of its live games over several days to evaluate whether they could effectively replace human hosts.
The results showed that more than two-thirds of players did not notice the switch to AI. At the same time, key performance indicators — including session duration, stake size and total bets placed — remained statistically unchanged.
According to BetGames, the absence of both positive and negative shifts suggests that while AI avatars can technically replicate the role of live presenters, they currently provide no measurable advantage. As a result, the company believes there is not yet a strong business case for rolling out the technology on a large scale.
Cost efficiency, often cited as a major driver of AI adoption, also failed to deliver a clear benefit. BetGames reported that generating and operating an AI avatar around the clock remains resource-intensive, limiting potential financial gains compared with human hosts.
Technical hurdles further complicate the widespread adoption of AI presenters. One of the most significant challenges remains achieving realistic text-to-speech performance. As AI technology becomes more advanced and visual realism improves, even minor imperfections in speech become increasingly noticeable to audiences.
Other constraints include latency issues, lip-synchronisation delays and inaccuracies in real-time translation — all critical elements that must be refined before the technology can be implemented reliably across live products.
BetGames continues to explore the potential of AI under the leadership of CEO Andreas Koeberl, who is also co-founder of Autonomous Minds, the developer behind the AI analyst Milo. The initiative forms part of the company’s broader strategy to experiment with emerging technologies and help future-proof the iGaming industry.
Koeberl said:
“AI has been building momentum, but its role within the live casino sector remains largely untested. When it comes to AI presenters, we built it, it worked, and nobody cared. That raises the question of what we are actually working toward.
“The technology didn’t produce any meaningful positive or negative impact on the player experience or product margins, and the cost of running an AI avatar 24/7 offers no significant advantage compared with employing human presenters.
“So rather than attempting to replace humans and replicate what already exists, the focus should shift to exploring what AI can enable that wasn’t previously possible. That’s where the real value lies.”
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AI
Despite AI’s Rise, Fraud Teams Keep Growing — SEON 2026 Report
SEON, the command centre for immediate Fraud Prevention and AML Compliance, has unveiled AI Reality Check: 2026 Fraud & AML Leaders Report, the second iteration of its sector research, derived from a worldwide survey of 1,010 leaders in fraud, risk, and compliance spanning payments, fintech, financial services, retail, eCommerce, and gaming.
The figures reveal an unforeseen narrative: AI is ubiquitous, yet operations are not becoming easier to manage. Currently, 98% of organizations utilize AI in fraud and AML processes, with 95% expressing confidence in its effectiveness; meanwhile, headcount plans rose from 88% to 94% year-over-year, and 83% anticipate budget increases in 2026.
Complexity Is Surpassing Automation
AI has not lessened the workload — it has revealed the extent of work that has always existed. Fraud losses are increasingly approaching revenue growth, threats are advancing more rapidly, and disjointed systems restrict the true potential of AI at scale. Key year-over-year shift:
Leadership’s confidence in their teams’ performance is lagging. The number of leaders who disagreed with the statement, “fraud losses are growing faster than revenue,” dropped by almost 40% from the previous year
Inside the Numbers:
AI is baseline, not experimental
- 98% already integrate AI into daily workflows (only 2% still planning)
- 95% are confident AI can detect and prevent fraud (52% very confident)
- Top use case: AI/ML for transaction monitoring (30%)
Fraud and AML investment keeps climbing
- 83% expect fraud/AML budgets to increase in 2026
- 94% plan to add at least one full-time hire (up from 88% in 2025)
- 85% plan to add a vendor, 49% plan to replace one
Fragmentation is the bottleneck
- 95% claim “some integration” between fraud and AML systems
- Only 47% run fully integrated workflows; the rest rely on partial connections
- 80% say getting a unified view of data is challenging
For many, time-to-value remains slow
Only 10% go live in under two weeks
38% take 1–3 months, 24% take 4+ months
When implementations run long, top impacts include increased costs (52%) and prolonged fraud exposure (47%)
Teams are growing, not shrinking
94% plan to increase headcount despite automation gains
85% see AI agents as support/augmentation, not replacement (only 12% see eventual replacement)
Top fraud threats reported:
- Account takeovers: 26%
- Promo/discount abuse: 18%
- Return fraud: 18%
“Fraud and financial crime were supposed to become more manageable as AI matured,” said Tamas Kadar, CEO and co-founder, SEON. “Instead, 2026 is the year leaders are confronting a more complicated reality. AI adoption is real, confidence is high, but the scale and pace of fraud — compounded by fragmented systems — continue to drive increased investment rather than reduced overhead. The bottleneck is no longer whether AI works. It’s everything around it: disconnected data, siloed teams, slow implementations. The organisations that pull ahead will be the ones that unify fraud and AML intelligence, shorten the distance between threats and controls, and treat integration as strategy, not plumbing.”
Fast-Growing Companies Invest in Integration Early
Organisations growing 51%+ are nearly twice as likely as slower peers to report that achieving unified visibility is “not very challenging.” They treat integration as infrastructure, not an IT project.
What’s Next: From “Does AI Work?” to “Can We Trust It?”
With adoption near-universal, the conversation is shifting to governance, explainability and accountability:
- 78% say decentralised digital identity will become central to fraud/AML
- 33% cite data privacy regulations (GDPR, CCPA) as the biggest external force shaping AML
- 25% point to criminals’ advancing use of AI and obfuscation techniques
The post Despite AI’s Rise, Fraud Teams Keep Growing — SEON 2026 Report appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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