Evolution Gaming is powering on in its quest to become a world leader in B2B online casino, having doubled its profit to €70.4m during the second quarter of the year (Q2 2019: €34.5m).
Operating revenues in the same period grew by 50 per cent to €128.3m (€85.7m) while EBITDA increased by 90 per cent to €81.1m (42.7m), corresponding to a margin of 63.2 per cent (49.8 per cent). Earnings per share stood at €0.39 (€0.19).
Evolution’s CEO Martin Carlesund said that there was evidence of strong underlying growth for a company that is in the process of acquiring NetEnt.
“Evolution’s vision is to become the leading B2B provider in online casino,” he said. “An acquisition of NetEnt means that we can accelerate the pace towards this vision. To add NetEnt’s leading slots to Evolution’s strong live casino offering will create a very strong market position significantly faster, especially in the USA. Together with clear synergies we believe this to be a strategic and highly attractive acquisition.
“A future Evolution with two verticals as the foundation will increase cash flow and reduce risk, while the growth potential increases.”
