Evolution Q2 Revenues Rise 34 Percent YoY to Reach EUR 344 Million
In an interim report for the year, Evolution, the live casino games provider, has announced good results for the second quarter of 2022, seeing revenues of EUR 344 million for this period, up from EUR 257 million, which equates to a 34 percent rise year-on-year.
The results also show an increase for Q2 in the EBITDA to EUR 238.2 million, which is a 69.3 percent rise when compared to the same period of the previous year.
The report also highlighted operational changes in the second quarter, opening several new studios, mainly in North America. As well as entering the newly regulated market of Ontario. The second quarter saw Evolution announce the planned acquisition of Nolimit City, the slots developer, and this is due to be completed in Q3 this year.
Of the 34 games, Evolution has released so far this year, one of their headline games is XXXtreme Lightning Roulette, which adds multipliers and other features to standard roulette. This has also seen the provider debut the Crazy Coin Flip game, which it describes as a ‘Live Slot’ game.
In the report, the company described the financial results as good without being great. The senior leadership feet the financials in the second quarter do not reflect the above-average operational results for this period.
The operational delivery in the second quarter 2022 is nothing but fantastic, and during the quarter, we reached many and significant milestones. These include the new studio in Connecticut, opening of the regulated Ontario market, opening of the new studio in Madrid, opening of the new studio in Yerevan, launch of Live games in West Virginia, and started construction of an additional studio in New Jersey. […] During the quarter, we also announced the acquisition of one of the leading and most innovative slots creators - Nolimit City. We are all very happy to welcome Nolimit City to the Evolution family.