Evolution’s income grew in the 1st quarter of 2022
Evolution reported its operating income for Q1 of 2022, which is 326.8 million euros, 39% more compared to the last year. Earnings before Interest, Taxes, Depreciation,...
H2 Gambling Capital Analyzes the Q1 for Gambling Industry
H2 Gambling Capital’s analysis of the industry’s performance during the first 4 months of 2021 shows that business-to-consumer and business-to-business stats have grown despite the COVID-19 related regulations still being in force and regulation changes in Scandinavian countries, and Germany.
YOY profit has grown by 42% and according to H2’s calculations Earnings Before Interest, Taxes, Depreciation, and Amortization increased by almost 120%. Business-to-business sales are the main force behind such growth.
Evolution Gaming is one of the best performing operators of the quarter as the implementation of its mergers and acquisitions strategy ensured the company’s growth.
Sports wagering operators are back on the field with 51% YOY growth, while online gaming revenue increased by 28%.
H2 also compared the results with the Q5 numbers of the last year noting that business-to-consumer revenue has decreased, unlike business-to-business profit. Interestingly while sports wagering income has dropped online gaming performance was better than the last 4 months of 2020.
New industry legislation adopted by Germany has greatly affected the industry businesses where many major players had more than 50% decreased income.
Both lockdown and new market regulation in Nordic states greatly affected the industry performance in said region.
Despite the headwinds, the operators faced in many parts of Europe the rapid growth of the British, Asian, and Australian markets managed to compensate for the losses.
The general trend shows that even though the YOY indicators are better some companies experienced regress compared to Q4 of 2020.
Many industry businesses believe that the growth will continue during the Q2 of this year but H2 Gambling Capital experts warn that the customers might still be cautious about spending large sums.
The sports betting industry will greatly benefit from major sports events like UEFA EURO 2020 and CONMEBOL Copa América.
Evolution and FanDuel renew partnership
Evolution Gaming and FanDuel Group extend their collaboration from 2020, under which FanDuel added Evolution’s live dealer games to its game suite.Under the terms of the...
