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Evolution Publishes Interim Report for the First Quarter of 2022
Gambling technology supplier Evolution AB has published its interim report for the first quarter of 2022.
Highlights
- Operating revenues increased by 38.6% to EUR 326.8 million (235.8)
- EBITDA increased by 43.4% to EUR 229.7 million (160.1), corresponding to a margin of 70.3% (67.9)
- Profit for the period amounted to EUR 197.7 million (132.0)
- Earnings per share before dilution amounted to EUR 0.93 (0.62)
Events During the First Quarter of 2022
- In the quarter, 747,000 own shares were acquired. A total of 1,905,865 shares have been acquired and the repurchase programme, announced on 3 December 2021, is thereby completed.
- Launch of Lightning Roulette in New Jersey with other states to follow.
- After the end of the period, Evolution went live with an extensive set of online casino services for multiple operators in the new regulated online gaming market in Ontario, Canada.
- After the end of the period, the first tables are live in our new Madrid studio.
CEO’s Comments
“I’m very happy to see the great work of all Evolution employees producing yet another strong quarter. We continued the strong development from 2021 also during the first quarter of this year. Revenues in the quarter increased by 38.6 percent to EUR 326.8 million, supported by continued strong demand for Live Casino, and the EBITDA increased to EUR 229.7 million, which corresponds to an EBITDA margin of 70.3 percent.
Looking back at the start of this year the developments outside of Evolution are very much in my thoughts. Even though we were happy to see the effects of the pandemic slowly subsiding in Europe and North America during the quarter our attention moved to the war and the humanitarian catastrophe in Ukraine created by the unprovoked invasion from Russia. At the start of the war Evolution had approximately 100 co-workers based in Kyiv. As for now, the war has limited direct financial impact on our business but emotionally it has affected us all. We will naturally continue to follow the development closely.
The first quarter for Live Casino has started very well with good momentum on most metrics resulting in a strong growth of 44.0 percent. We experienced exceptional growth in the first half of 2021 so the comparable figures are demanding. 2022 has started very well and the entertainment and excitement that Live games offer continues to drive new as well as existing customers to our games.
RNG growth of 1.8 percent year on year pro-forma is in line with our expectations. While structural efforts, such as the One Stop Shop and other cross sales activities are important elements, at the end of the day the key for improved growth is developing great games to all players. End-user satisfaction is always key and taking us there is not done overnight. The road to success will not be straight-lined but the focus and ambition is clear and I’m convinced that we will reach our growth ambitions over time.
The EBITDA margin of 70.3 percent is a step up from the same period last year and within our guidance of 69-71 percent for 2022. I’m happy with this delivery during Q1, especially considering the situation in the world with general cost increases not only relating to transport and energy. Looking ahead we see that the guidance of 69-71 percent EBITDA margin remains.
For us at Evolution, launching new games is what we live for. Creating new fantastic end-user experiences and simply put – to innovate! New games build loyalty among our existing players, introduce existing players to new games they have not played before and attract completely new categories of players. In Q1 we launched Bac Bo, a unique dice game which combines elements of the classic games Baccarat and Sic Bo. We also released Peek Baccarat which is another version of the classic Baccarat. In the quarter we also introduced new RNG titles such as Narcos Mexico and Knight Rider, as well as home grown brands like Doggy Riches Megaways and Zillard King. During the remaining part of the year, we have a very strong line up of new games both in RNG as well as in Live – a very exciting time indeed.
There is a continued strong demand for online casino across the globe. In North America we continue to expand all our studios, with Connecticut as the next studio to be launched during 2022. In Asia we also continue to experience good growth, while the more mature European markets are, in general, in slower growth mode – some due to regulatory changes affecting operators. However, we still see growth opportunities in Europe. LatAm also offers good potential going forward and continues to develop with several markets in discussions regarding regulation of their market for online gaming.
As I write this we are in the final preparations of Go-Live in our new studio in Madrid and as you read this the first tables are just opening! Also, we are moving closer to open our Yerevan studio to add even more capacity to the Evolution network. A lesson learned during the pandemic years is to not be too dependent on any one studio. Today we can efficiently allocate our resources within our network of fifteen studios and shift resources from one site to another when needed, without any impact on our delivery capacity. As we add studios to the network this becomes even more of a strength benefiting our operators. As earlier communicated, we expect total investments in new studios to increase also in 2022.
We are well on our way into 2022, leaving the first quarter with good delivery and momentum. We strive to be better every single day, every single one of us, and we fight every day to increase the gap to our competitors. With our 88 new games 2022 we have shown what thousands and thousands of fantastic Evolution employees can achieve together. Evolution is a workplace where everyone is accepted and respected. Together, we hope for a brighter end of 2022 than the beginning.”
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Finland Finalises Gambling Reform Framework: Market Opening Set for 2027
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Finland is preparing to usher in a new era for its gambling industry, with a comprehensive reform that transitions the country from a state monopoly to a regulated, licensed market. According to updates received by Nordic Legal, the Administrative Committee of the Finnish Parliament has completed its report, confirming the core elements of the reform. While the legislation has yet to be formally published, it is expected to pass without further amendments.
This reform marks a significant shift in Finland’s gambling landscape and introduces a well-defined roadmap that operators and suppliers should begin preparing for now.
Key Milestones in Finland’s Gambling Market Reform
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B2C licence application opens: March 1, 2026
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Opening of the gambling market: July 1, 2027
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B2B licence application opens: July 1, 2027
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B2B licence requirement enforced: July 1, 2028
In addition to these regulatory changes, the Finnish government is reportedly exploring mechanisms for enhanced player protection. One such initiative under consideration is the introduction of loss limits that would apply across all licensed operators, signalling a strong commitment to responsible gambling.
Nordic Legal: Your Strategic Partner for Finnish Market Entry
With deep expertise in the Nordic gambling sector, Nordic Legal is uniquely positioned to assist operators navigating the Finnish licensing process. Drawing on experience in Denmark and Sweden, the firm brings regulatory insight, a streamlined methodology, and local expertise to ensure clients are well-prepared for this market transformation.
Why Choose Nordic Legal?
1. Familiarity with Your Business
For existing clients operating in Denmark or Sweden, Nordic Legal leverages its existing understanding of your organisation and technical infrastructure. This continuity accelerates the process and avoids duplication of effort.
2. Regulatory Expertise
Years of engagement with Danish and Swedish regulators allow Nordic Legal to anticipate regulatory expectations, resolve potential issues early, and smooth out the application journey.
3. Proven Nordic Methodology
Nordic Legal applies a tested framework to each licence application, including:
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Reusing existing documentation where possible
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Mapping technical and certification requirements in advance
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Aligning responsible gambling strategies with Finnish standards
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Co-managing projects through your current contact and our Helsinki team
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Constructive engagement with regulatory authorities when needed
Finland Licence Application Package
To support a seamless entry into the Finnish market, Nordic Legal offers a comprehensive application service that includes:
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Translation of all required documents
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Step-by-step application guidance
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Completion of application forms
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Full project management
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Direct communication with the Finnish Gambling Authority on your behalf
Operators aiming to enter the Finnish market are encouraged to begin preparations early. Nordic Legal’s package ensures that you will be ready when the application process opens in 2026.
Thinking of Entering the Finnish Market?
Whether Finland is part of your expansion strategy or you need a clearer understanding of how the new legislation affects your operations, Nordic Legal is ready to help. With expert knowledge of the requirements, the process, and the business context, we provide the guidance and support you need to move forward confidently.
For more information about our Licence Application Package or a personalised assessment of the Finnish market, please contact Nordic Legal directly.
The post Finland Finalises Gambling Reform Framework: Market Opening Set for 2027 appeared first on European Gaming Industry News.
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Kaizen Foundation partners with Ashoka to empower future social entrepreneurs
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Kaizen Foundation, the Social Purpose Foundation funded exclusively by Kaizen Gaming, is partnering with Ashoka, one of the world’s leading organisations dedicated to social entrepreneurship, to support the next generation of social innovators and changemakers. Through this collaboration, the Kaizen Foundation will contribute to Ashoka’s global work and fund two outstanding new Ashoka Fellows – one in Portugal and one in Romania.
For more than 40 years, Ashoka has built and nurtured the largest network of social entrepreneurs in the world, with each Fellow committed to driving innovation and creating meaningful, long-term change. Addressing challenges such as poverty, access to healthcare and the development of inclusive public services, Ashoka fosters changemaking ecosystems through partnerships across education, civil society and business. Its youth initiatives promote empathy, co-creation and problem-solving as core skills to achieve system-level change.
Recent Fellows in Romania include Dorica Dan, who revolutionizes the field of care for rare disease patients, influencing national legislation to improve diagnosis and access to therapies. In Portugal, Celmira Macedo tackles barriers to education and health literacy and supports students with special needs, reaching over 100,000 people in 76 Portuguese cities.
Once identified and selected for Ashoka’s Global Fellowship, the two new entrepreneurs will be fully funded by the Kaizen Foundation and will join a vibrant global community of Fellows across 95 countries. In addition to supporting Ashoka’s backbone operations, the Kaizen Foundation will also support the Ashoka Fellowship offering for all current Fellows – a programme designed to sustain and strengthen the global, national and regional infrastructure that helps Fellows thrive, scale their impact and collaborate across borders.
Panos Konstantopoulos, President of the Kaizen Foundation, noted: “Real impact begins with people – those who dare to imagine better futures and work tirelessly to build them. Ashoka has created one of the strongest communities of changemakers worldwide. Supporting new Fellows in Portugal and Romania allows us to stand behind individuals who are addressing critical social challenges with courage and creativity. We’re honoured to help strengthen the communities they serve.”
David Bonbright, Member of the Global Leadership Group at Ashoka, commented: “We are delighted to welcome the Kaizen Foundation into Ashoka’s global community of partners. Their strong focus on innovation, technology and long-term social impact makes them a natural ally in our effort to build a world where everyone can be a changemaker. With their support, we will be able to identify and back outstanding entrepreneurs in Portugal and Romania, while also strengthening the support system that enables all our Fellows to collaborate, learn from one another and scale their impact.”
The post Kaizen Foundation partners with Ashoka to empower future social entrepreneurs appeared first on European Gaming Industry News.
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WEC25 in Kuala Lumpur Marks the Most Diverse MLBB Competition to Date
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World Esports Championship (WEC25), which took place from 3–7 December in the heart of Kuala Lumpur, brings together the most diverse Mobile Legends: Bang Bang (MLBB) competition in the event’s history. This year’s edition stands as a major milestone for both IESF and MOONTON Games, strengthening MLBB’s position as a global esports phenomenon and a flagship title of the World Esports Championship.
The MLBB Open Tournament delivered an exceptional showcase of high-level competition, strategy, and international talent. Teams from around the world battled through a demanding series of matches, leading to a dominant 3–0 victory by Malaysia over Cambodia in the Grand Final. With this triumph, Malaysia secured its status as back-to-back WEC champions, reaffirming its position as one of the strongest MLBB nations in the world.
This year also marked a historic moment for the region, as Türkiye claimed third place, becoming the first European nation to win a medal in MLBB at the World Esports Championship.
The Grand Final was officially opened by distinguished guests: YAB Dato’ Seri Dr. Ahmad Zahid bin Hamidi, Deputy Prime Minister of Malaysia; YB Tuan Adam Adli bin Abd Halim, Deputy Minister of Youth and Sports; Mr. Vlad Marinescu, President of the International Esports Federation; and Mr. Muhammad Naim Al Amin, President of the Malaysia Esports Federation. Their presence underscored the national and international significance of this year’s competition. Their presence underscored the national and international significance of this year’s competition.
MLBB Tournament Medalists: Gold: Malaysia Silver: Cambodia Bronze: Turkiye
Indonesia Dominates MLBB Women’s Tournament with Back-to-Back Victory
The MLBB Women’s Tournament at WEC25 delivered another thrilling showcase of elite competition. Indonesia reaffirmed its dominance by claiming the championship for the second consecutive year, remaining undefeated throughout the tournament and demonstrating unmatched skill and teamwork.
The grand final pitted Indonesia against Cambodia, a remarkable team that had battled its way up from the lower bracket, seizing every opportunity to reach the final. Despite Cambodia’s impressive run and relentless efforts, Indonesia maintained its winning streak, solidifying their reputation as the powerhouse of women’s MLBB esports.
MLBB Women’s Tournament Medalists: Gold: Indonesia Silver: Cambodia Bronze: Egypt
The continued success of MLBB at the World Esports Championship reflects the strong partnership between IESF and MOONTON Games.
“WEC25 has set a new milestone for MLBB and for esports as a whole. Seeing teams from around the world compete at the highest level and witnessing Indonesia’s incredible back-to-back Women’s championship reminds us why we are committed to growing this community. Together with MOONTON Games, we are proud to bring fans and athletes an unforgettable experience and to continue expanding MLBB’s global presence,” said Igor Nedeski, IESF Esports Manager.
Ray Ng, Head of Ecosystem at MOONTON Games, added: “WEC25 represents something we have been building toward for years; the moment MLBB becomes a sport where representing your country matters as much as winning. This is what a mature, premier esports ecosystem looks like: diverse talent from across the globe, united by a shared stage where every match carries the weight of national pride. That is the future we are building at MOONTON Games, one where esports creates heroes who inspire nations.”
Together, we remain committed to providing more opportunities for athletes, expanding the reach of MLBB globally, and creating unforgettable moments for fans and players alike. WEC25 sets a new benchmark for excellence and inclusivity, and the partnership between IESF and MOONTON Games will continue to drive the growth of MLBB on the international stage.
The post WEC25 in Kuala Lumpur Marks the Most Diverse MLBB Competition to Date appeared first on European Gaming Industry News.
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