Evolution posts $381m in operating revenue for Q3 2022
The company reached the $1bn revenue milestone for the first nine months of the year.
Evolution has published its third-quarter financial report for 2022. The company reported solid growth throughout the quarter in multiple areas.
During the first nine months of this year, Evolution has reached more than $1.05bn in overall revenue, reflecting a 37% rise when compared to the corresponding time frame from last year.
In the third quarter alone, Evolution posted gains in operating revenue, EBITDA and operating profit.
Operating revenue soared to reach $381m in the third quarter. EBITDA grew by 35% and totaled $262m.
Operating profit during the quarter experience similar growth. Figures in Q3 reached $237.1, an increase of 37%.
A bulk of the overall Q3 revenue can be attributed to live casino games, according to the company report. The company posted a total revenue of $311.2m during the quarter, representing a year-over-year increase of 45%.
Evolution CEO Martin Carlesund commented about the company’s third-quarter success: “We continue to see very strong global demand for our new as well as existing products and we are increasing market shares and our distance to competitors.”
Random number generator (RNG) games contributed to the company’s remaining operating revenue for the third quarter, yielding $68.3m and representing an 11% boost year-over-year.
Carlesund explained these results in more detail by saying: “Total RNG revenue increased by 11% compared to last year, including the acquired Nolimit City business, comparing to pro-forma figures growth year-on-year is 2%.
“This is not yet satisfactory. We have delivered too few slot games during the past period; however, we remain fully committed to the target of double-digit growth.”
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