Evolution Gaming’s global outlook and a lack of sports betting opportunities have helped the live casino solutions provider to success in the opening quarter of the year.
Evolution reported that Q1 operating revenues increased year-on-year by 45 per cent to €115.1m (€79.3m), with EBITDA up by 79 per cent to €64.1m, corresponding to a margin of 55.7 per cent (45.3 per cent).
Profit for Q1 2020 stood at €54.2m (€28.6m), as high demand for Evolution’s live games continued, with new players switching across to the vertical as a consequence of a widespread postponement of sport across the world.
The company stated that it has adapted its operations as a result of the Covid-19 outbreak, with social distancing for employees necessitating that fewer live tables than usual are in use. Studios in Georgia and Spain have been shut down on a temporary basis.
CEO Martin Carlesund said: “To be a global company with sites across multiple territories has been an important factor during these times.
“With that said, our studios in Latvia and Malta are important hubs from which several of our most popular titles are broadcasted.
“We have seen an increased and strong demand for our products all through the first quarter. During the end of the quarter the absence of sporting betting games likely also favoured growth in our products. This circumstance also affects the start of the second quarter and we now see many new players being introduced to the live segment.
“All in all, this means that we have had a very good start to the year so far, but there will be also continuous challenges as we have not seen the end of the development of Covid-19 yet.”
