EG profits skyrocket in 2016
Leading Live dealer provider rakes in huge profits
Evolution Gaming, a leading provider of Live Dealer tables for a number of reputable online casinos, for example, Royal Vegas and Casino Room, had a very successful 2016 indeed. The increased demand for live virtual tables helped the company strike a deal with many new operators, and improve its existing standing with the partners already under its wing.
Evolution Gaming’s year-on-year profit increased by 58.5%, totaling €31.7 million. The company’s operating revenue saw a 51% growth, amounting to a total of €115.5 million in 2016. In regards to EBITDA (earnings before interest, tax, depreciation, and amortization), there was a 44% growth, with a total for 2016 being €44 million.
According to Martin Carlesund, EG’s CEO, the company owes a lot to the increase in mobile penetration, especially during the last quarter. During that period, over 50% of the total gameplay happened via players’ mobile devices.
2016 was also the year of expansion in other fields. The company initialized new Live studios in Romania and Belgium, which helped expand their customer base and offer more to already existing customers. All this led to the company’s total revenues increasing 54% during the last three months of 2016, while the overall profit increased to €9 million, a 30% boost.
Evolution Gamings’ plans for 2017 are along the same lines: continue on the recent wave of success and maintain a positive income growth. Evolution Gaming will be developing products for regulated markets, and their expansion plans include a development of land-based solutions as well.
All this should see them cement their position as the leading provider of Live Dealer solutions, and increase their influence further, in preparation for their transition to Nasdaq Stockholm scheduled to take place in the second quarter of 2017.