Evolution Gaming nearly doubles profit as mobile casino spikes

Live dealer online casino provider Evolution Gaming nearly doubled its profits in the second quarter of 2017 as mobile devices claimed more than half of revenue for the first time.

Figures released Thursday show Evolution’s revenue rising 56% year-on-year to €42.3m in the three months ending June 30. Earnings for the quarter were up 81% to €19.2m while profit rose to €14.6m from €7.6m in the same period last year as margins gained 6.5 points to 34.6%.

Evolution CEO Martin Carlesund was understandably ebullient at his company’s performance, which he credited to high growth among existing customers and “a continuously improving and increasingly efficient organization.”

The growing popularity of live casino products was on full display in the quarter, as Evolution’s B2B customers reported the total number of bet spots rising to 2.2b from 1.2b in Q2 2016. The share of Evolution’s revenue derived from mobile devices leaped to 52%, up 12 points year-on-year and marking the first time that mobile revenue has accounted for more than half of Evolution’s overall pie.