Evolution Gaming reveals continuing growth in first quarter

Evolution Gaming has followed up on significant financial growth during 2015 by revealing further success in the three months to March 31, 2016.

Revenue during the first quarter amounted to €24.8 million ($28 million), which represents an increase of 59% on the €15.6 million posted in the same period in 2015.

Profit in the opening three months of this year totalled €7.6 million, significantly higher than the €1.4 million posted in the first quarter of 2015, while earnings per share also increased from €0.04 to €0.21.

Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) hiked 67% to €10.3 million, with an enhanced margin of 42%, while mobile penetration amounted to 34%, up on 20% last year.

Jens von Bahr, chief executive of Evolution, said: “The strong growth of 2015 has continued into 2016 and, in the first quarter, Evolution’s revenues rose by 59% compared with the same quarter last year.

“EBITDA amounted to €10.3 million, corresponding to a margin of 42%, and mobile growth also continued, with mobile penetration amounting to 34% for the quarter.

“On the whole, I view the continued development of both the market and Evolution with the same confidence as previously.

“Although live casino remains a small part of the total online gaming market, with its social interaction and customisable content, it has what it takes to continuing growing at a high pace over the coming years.

“At the same time, we will continue working according to our clear strategy to support both existing customers to develop their live offerings, while also benefitting from future growth areas such as land-based casinos.”

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