Strong Final Quarter Lifts Evolution Gaming Growth To New Heights

STRONG FINAL QUARTER LIFTS EVOLUTION GAMING GROWTH TO NEW HEIGHTS

17th February, 2016 at 08:25:39
Source: http://www.azonlinecasinos.com

Live dealer technology provider almost doubles profits in Q4-2015.

The last quarter of 2015 put the final polish on an already glittering full year 2015 for live dealer provider Evolution Gaming, which announced this week that Q4-2015 revenue rose 62% year-on-year to Euro 22.4 million, generating profit up a remarkable 81% at Euro 7.5 million.

In a successful year where the company has expanded both its client list and existing business, Evolution posted full year 2015 revenues of Euro 75.2 million - a y-o-y rise of 55% that gave the company profits up 82% to Euro 25.1 million on margins up at 33 percent.

Importantly, mobile boomed with contribution to revenue rising to 32 percent.

The profits came despite increased investment in operating expenses due to a growing pay-roll (up by 644 people since the end of 2014) and facilities expansion.

Recent top management hires included CTO David Craelius and former Netent HR specialist Maria Furenmo to head up the people side.

CEO Jens Bahr says the company has plans to list on the Nasdaq Stockholm Exchange this year.

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