Evolution Gaming Posts Interim Report

EVOLUTION GAMING POSTS INTERIM REPORT

07th May, 2015 at 10:04:19
Source: http://www.azonlinecasinos.com

Revenues, operating profit and EBITDA all up.

Live dealer provider Evolution Gaming has published its first interim report since publicly listing, showcasing growth in revenues, operating profit and EBITDA.

The company said that its recent deal with Pokerstars enabled it to boost revenues 43% y-o-y to Euro 15.4 million in its first quarter 2015.

Adjusted EBITDA grew 95% to Euro 6.2 million (Q1-2014: Euro 3.2 million) with margin at 39.9 percent, and adjusted operating profit up 117% y-o-y at almost Euro 5 million. Adjusted operating margin was 32% during the reporting period.

Evolution reported adjusted profit of Euro 4.6 million (Q1-2014: Euro 2.1 million), with adjusted profit margin of 29.6 percent.

In January the company completed a restructuring initiative and the establishment of a new parent company, Evolution Gaming Group AB, as part of the preparations for its successful listing on NASDAQ First North Premier in Stockholm in March this year.

Management reported that significant market demand for Evolution products continued in the quarter with a marked increase in live casino games licencees, and that the company improved its mobile offering and launched new games; 20% of Evolution revenues were generated from the mobile channel, Management said.

The Pokerstars deal was a major boost for the company, with the poker giant the first licensee to go live with the Evolution's Immersive Lite, an HD multi-camera studio installation.

Evolution CEO Jens von Bahr reported that the company has secured a full UK Gambling Commission licence.

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