Evolution AB or EVO:Stockholm is a leading provider of online casino solutions. It reported solid financial growth in its third quarter 2024 earnings call in spite of facing operational challenges. CEO Martin Carlesund and CFO Jacob Kaplan shared that the company’s revenue increased by 15% year-on-year to €579 million. The launch of new games and the expansion of live studios in Colombia and the Czech Republic drove this growth.
Nonetheless, operations in Georgia are at 60% capacity because of a union strike, as well as cyberattacks in Asia that have impacted revenues. With plans to release new products and expand in North America and other key markets, the company remains optimistic.
The Q3 earnings call of Evolution grew by 15% year-on-year to €579 million. New live studios in Colombia and the Czech Republic have expanded the global presence of the company.
Reducing studio capacity and affecting game round index, a union strike in Georgia and cyberattacks in Asia have posed challenges. Reporting an 18% increase in revenue for the quarter, the company is optimistic about growth in North America.
The upcoming product launch includes an upgraded Deal or No Deal and Crazy Balls Live. Financial highlights include a net revenue of €519.4 million and an adjusted EBITDA of €355.6 million. With a focus on innovation and market demands, the company is preparing for new market regulations in the United States and Brazil, with a focus on innovation and market demands.
Including a partnership gaming experience with streamers and numerous new live slot games, Evolution plans to launch new products. With studios opening in the Czech Republic and Colombia, the company is focused on expansion in new markets.
Highlighting its focus on industry presence, the ICE iGaming trade show will move to Barcelona in January next year.
