Evolution has announced a strong Q3 growth, a result of its rapidly expanding business and a continuation of what has been a strong year for the European B2B supplier of live casino services.
Revenues in the third quarter were up by 97% to $320m and EBITDA was up 69.9% to $223.6m. Profit for the period ending 30 September 2021 reached $182.5m. The report also tracked growth from January to September of this year, a period when operating revenue increased by 100%.
Much of this growth is the result of strong demand for Evolution’s live casino services – revenue here is up 53.2% compared to the same time last year – but the company's RNG services have also seen significant expansion.
In North America, Evolution continues to grow its footprint. Among the highlights of Q3 have been: in Michigan, the opening of a new live casino (this is after the introduction of its NetEnt games portfolio at the year’s beginning); in Connecticut, the first to market with slot games (it expects that its live games will soon arrive in the state); and in Canada, the launch of live and RNG games in partnership with the Ontario Lottery and Gaming Corporation.
The company now directly operates in four US states and four Canadian Provinces.
Group CEO Martin Carlesund is optimistic that this growth will continue: “We are now well on our way into an exciting and very hectic last quarter and we have had a strong start to the fourth quarter so far. New games to release, new studios to build, ODD to be rolled out and great new Evolutioneers to recruit at the same time as all of us already need to focus hard on what we can do better.”
