Connect with us

Uncategorized

Evolution Publishes Interim Report for the First Quarter of 2022

Published

on

Reading Time: 4 minutes

 

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

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.”

Powered by WPeMatico

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading
Advertisement

Uncategorized

BLAST and GamingMalta announce multi-year partnership including a state-of-the-art studio and hub of esports activity on the island

Published

on

blast-and-gamingmalta-announce-multi-year-partnership-including-a-state-of-the-art-studio-and-hub-of-esports-activity-on-the-island
Reading Time: 2 minutes

Competitive entertainment company BLAST and GamingMalta, an independent non-profit foundation set up by the Government of Malta, are proud to announce a transformative three-year partnership. The partnership will see Malta become a premier destination for world-class esports events and innovation, with BLAST debuting in Malta with the BLAST Premier Bounty S2 in August 2025.

The partnership will initially host nine major international esports tournaments in Malta, featuring some of the most prestigious competitions from BLAST’s global calendar, including the BLAST Premier and BLAST Slam circuits. In addition to these headline events, BLAST will establish a permanent esports broadcasting facility equipped with cutting edge technology that will span over 1,000m2 hosting Tier 1 esports tournaments and an office presence on the island, creating a dedicated team and infrastructure to support content production, operations, and long-term engagement in the region.

As part of the collaboration, GamingMalta will also benefit from global visibility across all BLAST Premier and BLAST Slam broadcasts, with millions of fans tuning in around the world. Beyond tournaments and exposure, the partnership also underscores a shared commitment to community development and education.

BLAST will support GamingMalta’s mission by investing in local esports initiatives, forging connections with universities and grassroots organisations, and helping create meaningful career opportunities for Maltese players, content creators, and aspiring professionals within the gaming industry.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Together, BLAST and GamingMalta will position Malta as a global esports destination, leveraging high-profile events to attract international teams, fans, and media coverage. The initiative is also expected to generate significant economic benefits through increased tourism, hospitality demand, and international business.

Silvio Schembri, Minister for the Economy, Enterprise & Strategic Projects for Malta, added: “This partnership with BLAST – a premier global esports entertainment company – aligns perfectly with the Government of Malta’s Vision 2050, which places digital innovation, youth engagement, and the creative economy at the heart of our national strategy. It reflects our ongoing commitment to positioning Malta as a hub for future-facing industries, while also creating real opportunities for our young people through education, careers, and international exposure. By investing in strategic collaborations like this, we continue to build an economy that is innovative, resilient, and globally relevant.”

Robbie Douek, CEO of BLAST, said: “Our partnership with GamingMalta makes a major milestone for BLAST having secured a multi year partnership to elevate esports and gaming in Malta. We are excited to bring live output, a new studio and competitive entertainment to the island.”

Ivan Filletti CEO of GamingMalta remarked “At GamingMalta, we are committed to nurturing every level of the gaming ecosystem – from grassroots to global. This multi-year partnership with BLAST is a bold step forward in our relentless journey to continue establishing Malta as a world-class esports hub. We will continue to champion our ‘Home of Gaming Excellence’ vision by delivering top-tier events and creating new opportunities for the next generation of esports talent.”

The BLAST Premier Bounty S2 features 32 teams from across the Counter-Strike scene battling for a spot at our LAN finals and a slice of the $500,000 USD prize pool. The innovative Bounty format allows teams to select their opponents and utilize wager mechanics to raise the stakes and chase riches.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post BLAST and GamingMalta announce multi-year partnership including a state-of-the-art studio and hub of esports activity on the island appeared first on European Gaming Industry News.

Continue Reading

Uncategorized

Clarion Gaming wins accolades at prestigious events industry awards

Published

on

clarion-gaming-wins-accolades-at-prestigious-events-industry-awards
Reading Time: < 1 minute

Clarion Gaming celebrated ‘double gold’ at the AEO Excellence Awards widely recognised as the Oscars for the events industry.

Held at London’s Grosvenor House Hotel which has hosted royalty, dignitaries and business leaders for nearly a century, the Awards saw World Gaming Week, comprising ICE and iGB Affiliate Barcelona judged Best International Show (Europe) with Clarion Gaming receiving the accolade of ‘Organiser Team of the Year’ a category which was judged across every industry sector and jurisdiction.

Reflecting on the illustrious Awards which showcase the very best that the events industry has to offer, Clarion Gaming Managing Director, Stuart Hunter said: “It’s a fantastic achievement to win Gold across two incredibly competitive categories and to be recognised by the judging panel which was drawn from across the events industry ecosystem.

“I can’t think of another team anywhere in the event’s space that’s risen to the huge challenge of moving three market leading and established shows to two different countries over the course of 18-months.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Taking ICE and iGB Affiliate to Barcelona has opened-up so many opportunities for the entire industry supply chain and we have the same aspirations for iGB L!VE which opens in London in July following its relocation from Amsterdam.”

He added: “The philosophy which is embedded in the Clarion Gaming DNA is to always work alongside our customers, understand their business needs and use the power of our brands to help meet their objectives irrespective of their size.

“By embracing this approach, our commitment to being industry partners empowers us to make bold decisions and achieve even greater outcomes for our customers.”

The post Clarion Gaming wins accolades at prestigious events industry awards appeared first on European Gaming Industry News.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)
Continue Reading

Uncategorized

Allaster Gair confirmed as Bacta’s Director of Communications

Published

on

allaster-gair-confirmed-as-bacta’s-director-of-communications
Reading Time: < 1 minute

UK trade association Bacta has announced the appointment of Allaster Gair to the position of Director of Communications, effective 7th July.

Gair, who replaces Executive Director George McGregor who announced in March that he would be stepping down from Bacta joins from global advisory consultancy the DGA Group where he spent 5-years most recently as Senior Associate.

Looking ahead to driving the trade association’s communications programme he stated: “I’m absolutely thrilled to be joining Bacta at such a pivotal time for the industry. It represents a sector with deep roots in local economies, and I’m looking forward to proactively championing its value and telling its story.”

He noted: “The key challenge is changing outdated perceptions and I’ll be working hard to ensure stakeholders understand the modern, responsible nature of the industry and how it strongly contributes both economically and socially.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“The sector needs to clearly and consistently influence opinion, build trust, and inform policy in what is a complex landscape. I see huge potential to go on the front foot and tell the sector’s positive stories. In particular I’m keen to highlight its beneficial impact, commitment to safer gambling, and its importance to the wider economy.”

Bacta’s outgoing President John Bollom said: “I am delighted to welcome Allaster who was without doubt the stand-out candidate.

“The comms challenges that we face are significant not least combatting the media onslaught that’s being directed at the Adult Gaming Sector and enhancing the ways in which Bacta engages with its members.

“I would like to place on the record my thanks to George McGregor who ends a 21-year association with Bacta.

“His knowledge and experience have been a great asset and he has been a source of wise counsel during what has been an extremely challenging period for the industry.“

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post Allaster Gair confirmed as Bacta’s Director of Communications appeared first on European Gaming Industry News.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania