Evolution Gaming sees live casino as a “fast growing sector” after Q3 spike


By Lars Wahlström - Updated 2022-10-28

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Evolution Gaming reports that global online casino markets are expected to continue to be among the fastest-growing gaming segments in the coming years, with live casino revenue in Q3 jumping 45% from the same period last year.

The positive revenue development within live casino is mainly due to increased commission income from existing customers and, to a certain extent, from new customers. Demand for online casino games continues to grow, partly as a result of Evolution's continuous launch of “successful new games and variations on traditional games”.

Martin Carlesund, CEO of Evolution, notes that live casino saw continued rapid growth of 45 percent in the quarter.

He attributes this success to strong global demand for new and existing products and notes that the company is increasing market share while also distancing itself from competitors. The roll-out of the full product suite to all regulated markets continues as planned.

Meanwhile, Evolution's RNG games also experienced a revenue increase, standing at €68.1 million for 2021 (compared to €61.5 million in 2021).

  • Evolution Gaming marks live casino as ‘fast growing' sector after Q3 spike
  • Total RNG revenue increased by 11 percent compared to last year
  • Growth is attributed to the acquisition of Nolimit City, which is now fully consolidated
  • Evolution remains fully committed to achieving double-digit growth

Operating revenue increased by 37.1% to €378.5m in the quarter, with EBITDA up 35.3% to €261m.

Profit for the period totalled €221.3m, compared to €157.4m in 2021.

Looking at the nine months from January to September, Evolution's operating revenues jumped 36.5% to €1,049.3bn.

Evolution Gaming has reported that the live casino sector is growing quickly, thanks to a spike in revenue during its third quarter. The company's EBITDA increased by 38.1% during the nine months, and it also saw a profit of €619.9m.

This growth was largely due to an increase in revenue from the Asia continent and North America.

Evolution Gaming CEO, Jens Carlesund, said that “Online casino continues to grow worldwide and the growth path in the long term perspective is very strong.” However, he added that the company is facing increased costs for supplies and labour.

As a result, Evolution Gaming is maintaining its guidance for an EBITDA margin of 69-71%.

Despite these challenges, the company remains optimistic about the future of the live casino sector.