Evolution Gaming doubles profits, sets earnings margin record in Q3

Online live dealer casino technology supplier Evolution Gaming more than doubled its Q3 profit as the company posted a new record quarterly earnings margin.

Figures released this week show Evolution generated revenue of €45.7m in the three months ending September 30, a 56% gain from the same period last year. Earnings spiked 103% to €21.8m while profit shot up 127% to €16.8m. For the year-to-date, revenue is up 57% to €127.7m, earnings rose 83% to €58m and profit gained 94% to €44.1m.

Evolution CEO Martin Carlesund credited the gains to strong acceptance of its new Dream Catcher and Dual Play Roulette games, along with a “high level of activity” at its live dealer clients during the summer months. Earnings margin hit 47.7% in Q3, nearly 11 points higher year-on-year and representing Evolution’s best ever margin in a single quarter.

Evolution’s existing live dealer studios underwent further expansion in Q3 and expects to have around 400 tables in operation by the end of 2017, which Carlesund claims makes Evolution “Europe’s largest casino by a good margin in terms of the number of tables.”