The long-term and unwavering dedication that Evolution has shown to the live casino business in Canada is beginning to bear fruit in a significant and massively important way. The premium brand just recently made public their interim financial report for the third quarter of the year, which reveals astounding expansion in relation to live casino gambling.
The operating revenues for the three-month period are stated to have increased by an astounding 97 percent to a total of 276 million euros, with EBIDTA also being favourably influenced as a result of this growth. For EBIDTA, the development trajectory has been even more remarkable, with the studio showing a 113% increase in profit from €79.4 million all the way up to the insane amount of €157.4 million for the period of July to September 2021.
A comparison from one year to the next serves as the basis for all calculations.
The Live Casino Is Right at the Center Of It
The live casino industry in Canada has been a major contributor to this phenomenal expansion. The astounding gain of 53% in total revenue can be attributed to the expansion of live casinos on their own. In addition to this, the revenue performance of RNG games has shown an increase of 8%, and there are also ongoing large-scale developments in the United States.
Recent events resulted in Evolution increasing its presence in the United States by opening a new live dealer studio in the state of Michigan.
Although the live casino will probably always be the company’s primary focus, RNG games are also continuing to show strong growth in terms of their revenue performance. This is a clear sign that the two industries continue to feed one another as more and more players discover the fascinating world of live casino games that can be beamed directly into the comfort of their own living rooms in high definition quality.
The brands NetEnt and Red Tiger, both of which were acquired by Evolution, each exhibited growth of approximately 3 percent, and Big Time Gaming did its part to contribute to the popularity of RNG games.
There is still a significant degree of duplication across the various brands. A game like Gonzo’s Quest Megaways is a fantastic illustration of how this works and serves as an excellent example. The original Gonzo’s Quest was a game developed by NetEnt, and it is generally agreed upon that it was the very first online slot to ever be made available to players over the entire internet. It would not be re-released until much later by Red Tiger as a Megaways title until after the introduction of the phenomenally successful Big Time Gaming mechanic.
Evolution Acquires DigiWheel
The process of evolution has been very focused on achieving unending expansion. Not only did the firm just recently announce that it would be developing two new studios in Yerevan and Madrid, but it also just finished acquiring the iGaming specialized developer DigiWheel.
According to Martin Carlesund, the CEO of Evolution, the company’s plan is to introduce the first live casino games in Canada powered by DigiWheel technology under the Evolution name as soon as possible and no later than 2022.