Operating revenues at Evolution in Q1 rose by 16.7 per cent to €501.5m, rising from €429.6m, the company said.


EBITDA increased by 15.2 per cent to €345.8m, corresponding to a margin of 69 per cent. Profit for Q1 amounted to €269.2m, Evolution added.

CEO Martin Carlesund said revenue growth at constant currency is estimated at 24 per cent in the quarter, adding: “It is encouraging to see the good momentum from the end of 2023 carrying over into this year.”

Evolution has seen growth both compared to the previous quarter and year-on-year “across all regions,” he said, pointing to “stable organic growth in Europe” and “very robust growth in Asia.”

“LatAm reported good year-over-year growth in the quarter, however operators are awaiting the transition to regulation in Brazil,” he added.

Carlesund said that while live casino revenues increased by 19.8 per cent, adding €25.7m in revenue from Q4, “much remains to be done to fully leverage our position in the market and serve the underlying demand.”

“RNG revenues improved sequentially both in comparison to the previous quarter as well as year-on-year, delivering a revenue of €70.1mi in the quarter,” Carlesund said.

“We continue to incrementally improve our RNG business both in the pace of game releases and in tools surrounding the games. We are adding and injecting AI into our system infrastructure and also in our way of operating where we see that it can contribute to efficiency, analysis, or automation.”

Evolution has continued to increase its table game capacity during the quarter, with progress in Q4 being “carried over into this year.”

“In 2023 we increased the pace of new game introductions, and we aim at maintaining a high pace also 2024,” Carlesund said.

“The first Live game launch of the year is Stock Market, a fantastic game set in the volatile, exciting world of financial markets. Players have quickly taken to the game, and it has been a strong release in the period.

“In Q2 we will launch our most ambitious game show ever – Lightning Storm – the newest, most thrilling, and extravagant member of our Lightning family.”