Evolution Gaming – the Swedish online gaming heavyweight – has announced both its Q4 2021 results as well as the results for the entire year. By both metrics it was a very good year, marked by massive European expansion but also respectable growth in an American market where it is not as established.
The fourth quarter saw operating revenue increase by 69%, allowing it to reach a cool €300.2m ($343m). EBITDA was up 155% to €207m, while profit came to €172m. With all the growth, earnings per share came to €0.80.
The complete year was even was even more impressive: operating revenue increased 90% to just over €1bn, EBITDA was up 121% to €734.7m, while profit came out to €605.4m. Earnings per share were €2.83.
While the bulk of this growth was in the European market, where Evolution holds sway as one of the biggest online gaming operators, expansion in the America’s was robust this year. Evolution’s footprint expanded in Canada, the US, as well as in Latin America.
According to group CEO Martin Carlesund: “The North American online casino market continues to develop rapidly, we see great growth opportunity in all the current regulated states and are expanding all our studios.
“The next new studio to be launched will be Connecticut in 2022. In the quarter we also strengthened our position in Canada by signing with the provincial lottery and gaming agency, Ontario Lottery and Gaming Corporation.”
Also of note was the group’s performance in Latin America.
Carlesund went on: “In Argentina, we went live with operator BetWarrior and launched our live casino games portfolio in the newly regulated Buenos Aires Province online gaming market. Evolution was the first live casino provider in this market.”
