Caesars and Evolution launch live dealer studio in Pennsylvania
Caesars Entertainment, in partnership with Evolution Gaming, has officially launched its first branded online casino live dealer studio in Pennsylvania.The platform...
Despite Crazy Time, Evolution reports “solid” results
Despite its Crazy Time game having a record payout that affected growth, Evolution‘s performance in Q2 2024 was solid, according to Martin Carlesund, the CEO.
Revenues of €508.4 million up 15.3% and EBITDA of €345.8 million up 10.9% were reported by the gaming giant. In Q2 2023, the EBITDA margin slipped to 68% from 70.7%, but full-year guidance is still 69–71%.
Martin Carlesund, the CEO explained:
“I see the financial result in the quarter as solid, although not fully reflecting our operational performance. There are some clear reasons—one reason being that we had the largest payout ever in an online casino during the quarter of our Crazy Time game. Large player wins are part of the game and positive for our games’ attractiveness to players, but it does affect us through a lower revenue share in the period.”
Over 100 new video games are expected from Evolution later this year, with its recent successes being Balloon Race and Lightning Storm. Also, the company is growing by buying other companies; for instance, it intends to acquire Galaxy Gaming for eighty-five million dollars to increase its market share in America.
Additionally, CarIesund stated that he sees “vast potential” for growth in a few of Evolution’s more mature areas.
The CEO added:
“Our presence in North America expands, offering more successful game types in each state. In the second quarter, we also introduced our live games in Delaware for the first time. LatAm is performing well, even though the Brazilian market is still waiting for the transition to regulation.”
Evolution has begun to buyback shares worth as much as €400 million in an attempt to improve shareholder value. Carlesund ended by reaffirming his belief in a bright future in the face of increased regulatory issues.
Evolution records a decline after UKGC investigation
Evolution, a leading B2B solution provider for casino operators, recorded a decline in its shares of more than 10% after the UK Gambling Commission's investigation.
The...
