Evolution Gaming H1 profits double
Live casino supplier records revenues of 33.1m in the first half of the year with EBITDA up 92% to 13.8m
Evolution Gaming reported a strong set of H1 2015 financial results this morning with revenues up 49% and EBITDA almost doubling during the six-month period.
Total revenues for the half year ended 30 June were 33.3m, driving a 92% increase in adjusted EBITDA to 13.8m sending its share price up nearly 20% in early trading.
The live casino supplier said mobile had been a key driver of growth in the second quarter, with operator’s using the Evolution platforming seeing 24% of revenues coming through the channel.
The firm also attributed its strong performance to its deal with Casino de Spa in Belgium, which saw its live casino product launch with six online gaming sites in the country.
Evolution chief exec Jens von Bahr said the deal was “well in line” with his firm’s growth strategy and had given it a “virtual monopoly” on the market.
“[..] we have established significant entry barriers for competitors and, in terms of revenue, Belgium is expected to become our largest regulated market after the UK,” von Bahr said.
Evolution scooped the Live Casino Supplier of the Year gong at the eGR B2B Awards in June, which von Bahr said was “very strong recognition” for the quality of its offering.
Evolution Gaming’s share price was up 17% to SEK174.5 at the time of writing.