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...
Evolution faces $25K fine for compliance breaches
The Pennsylvania Gaming Control Board (PGCB) has fined Evolution $25,000 as a result of failing to store surveillance footage at its Philadelphia live dealer studio.
During a public meeting on December 18, which stemmed from a two-day power outage, Evolution became unable to save video footage as required under the PA Gaming Act.
While 14 live dealer tables remained operational, a server failure prevented the automatic storage of surveillance footage. This becomes the second fine for Evolution this year, following a $7,500 penalty in August after an unidentified individual accessed restricted areas, including an employee dressing room. Evolution must reorganize its studio layout to prevent future incidents.
Evolution expands in North America
Despite these challenges, Evolution continues to expand in North America. In Q3 2024, the company reported an 18.5% revenue increase, driven by the growing popularity of its live casino offerings.
Chief executive Martin Carlesund commented:
“During the quarter, we have added new games like Crazy Coin Flip, Super Sic Bo, Video Poker, and Crazy Time in several states. Those releases bit by bit, enhance the player experience and satisfaction in North America, and we see good pickup on new games in North America.”
Evolution plans to expand its presence also outside of New Jersey. With growing regulatory scrutiny and rising competition, Evolution faces increased pressure to maintain compliance while continuing its ambitious U.S. expansion.
Evolution reports strong Q3 results despite challenges
Despite a strike in its Georgian studio and cyber attacks in Asia, Evolution reported strong Q3 revenues with a 15% NGR increase.The 15% NGR increase equals to €519.4m....
