Live casino solutions provider Evolution Gaming has announced its operating revenues increased by 51 per cent to €106m in the fourth quarter of 2019.
Earnings before interest, taxes, depreciation, and amortization increased by 77 per cent to €55.8m indicating a margin of 52.7 per cent, the firm noted in its latest earnings report. In all, profits for the period amounted to €46.8m, while the per share price before dilution amounted to €0.26.
Full-year 2019 operating revenues increased by 49 per cent to €365.8m, with EBITDA increasing by 70 per cent to €182.9m, corresponding to a margin of 50.0% for the firm. Net profit for the period amounted to €149.7m.
The company’s bumper profits are due in part to leveraging from investments made in 2019 including signing several new customers, including Betfair, PaddyPower, Parx Casino and Penn National Gaming.
Evolution Gaming’s presence in the US was also strengthened in the fourth quarter through agreements with new operators in Pennsylvania and the process of building a studio in the state. The firm also announced it had made additional investments in a studio in New Jersey to expand its capacity.
Evolution Gaming CEO Martin Carlesund noted: “I am very satisfied to be able to present yet another strong quarter which summarises a successful 2019 for Evolution.
“The products we launched during the year - including new titles in the game show category - in combination with a continued strong market development and global demand, have contributed to a very high growth rate.”
“This year’s result trend has continued in the fourth quarter. Revenue in the fourth quarter amounted to €106m, an increase of 51 per cent compared with the corresponding period last year.”