Live Dealer Supplier Posts A Strong Third Quarter Report

LIVE DEALER SUPPLIER POSTS A STRONG THIRD QUARTER REPORT

23rd October, 2015 at 14:29:49
Source: http://www.azonlinecasinos.com

Evolution reports revenues, profits and earnings significantly up.

Live dealer technology and content supplier Evolution Gaming posted a strong Q3-2015 result Friday, reporting that revenues increased 57% y-o-y to Euro 19.5 million, and EBITDA rose 60% to Euro 7.8 million in the quarter ended September 30.

The company's mobile channel was particularly successful, contributing 28% of revenue as y-o-y proceeds soared 260% compared with the comparative period in 2014.

Operating profit of Euro 6.3 million - up 61% - was achieved, and adjusted profit grew by 59% to Euro 5.8 million.

Important events in the period included a deal with Genting Alderney, which will see a dedicated studio environment at Evolution's Riga base, and an agreement with major platform provider Microgaming as preferred Live Casino supplier for Europe.

Adjarabet, Marathonbet, Gamesys, Casumo, and BetConstruct all signed on as clients adding to Evolution's already impressive client portfolio during the period.

The company also posted its results for the nine months to end September, reporting:

* Revenue up 52% to Euro 52.8 million;

* Adjusted EBITDA up 79% to Euro 21.7 million;

* Adjusted operating profit of Euro 17.6 million, up 88 percent;

* Adjusted profit of Euro 16.3 million, up 88% year-on-year.

Chief executive officer Jens Bahr said in a statement that the company will continue to follow a growth strategy and intends to maintain its lead on rivals in order to deliver long-term shareholder value.

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