Evolution revenues up 45% as new games hit the mark

Evolution Gaming has reported a 45% rise in Q2 revenues to €85.7m, with the live casino provider hailing the success of its new game launches so far this year.

Group EBITDA increased by 63% to €42.7m corresponding to a margin of 49.8%, up form 44.2% last year.

CEO Martin Carlesund said the firm had been overwhelmed by the positive response from players and operators to its new games, including Lightening Dice, a Monopoly VR game and new variants of poker, roulette and blackjack.

“Our aim in the development has been to create games that attract new player types and to expand the Live vertical into new segments, and so far, we are very happy with the outcome,” Carlesund said.

“All games, from the new titles within the Game Show category to the dice games, are reaching their intended audiences and we see a significant increase in the number of players.

“The extended portfolio also contributes to revenue growth, but it is important to note that most of our revenues continue to derive from our core games and that the new games are still in an early stage post-launch.

Carlesund said the new titles contributed to a generally higher interest in live casino, and the vertical would continue to grow its share of the total online casino market.

Elsewhere,  Carlesund said Nordics were growing, but at a slower pace than last year as the Swedish market now normalises following the “intense start to the year”.

The UK, meanwhile, “continued to stabilise” and is growing compared to the corresponding quarter last year,” Carlesund said.

Evolution’s share price was up 12% in early trading.