Evolution Gaming’s profit increased significantly in first quarter
A few days ago, Evolution Gaming, live dealer online casino supplier, released its first quarter report, which pointed out that the company’s revenue in the first quarter of 2020 increased significantly. In the first three months of 2020, Evolution Gaming’s total revenue reached 110 million euros, a 45% increase from the same period last year. The company said that during this period, market demand for its products has grown strongly. According to industry analysts, one of the reasons is that fewer sports gambling options have caused players to switch to live dealer casino games. Judging from the current trend of no rematch for sports events, the growth of second-quarter performance of live dealer online casino suppliers such as Evolution Gaming is predictable.
The report points out that except for the UK, Evolution Gaming’s revenue has grown in the urban areas of other countries. In the UK, its revenue fell by 20% to 9.9 million euros. On the other hand, the company’s total revenue in Europe grew by 47% to 59.8 million euros. In addition, the company’s revenue in the Asian market grew by more than 100%, from the original 8 million euros to 20.8 million euros. The revenue in the North American market increased by 54% to 7.1 million euros. And, business in all other regions increased by 52% to reach 11.4 million euros.
At the same time, the report also showed that Evolution Gaming’s operating expenses in the first quarter also increased by 18% to 58 million euros. Of course, employee salary accounts for a large part of the cost, which costs about 33 million euros. Operating profit increased by 89% to 57.1 million euros; net profit totaled 54.2 million euros. The company’s CEO Martin Carlesund said that although the company’s profit grew in the first quarter, other aspects of the business are still affected by the Covid-19 pandemic. He also warned that because the Covid-19 pandemic has not yet been controlled, the company will still face certain challenges in the future.
Martin Carlesund added that in some of the live dealer studios, the number of game tables is less than normal. Not only that, its live dealer studios in Georgia and Spain were also temporarily closed by the local government. At the same time, he also mentioned the company’s business layout, is expected to expand the business scope to all parts of the world. At present, the opening of Evolution Gaming’s studio in Pennsylvania, USA has been postponed, but it is still planned to launch its products in the Pennsylvania market by the end of 2020.
