Evolution’s revenue and profit have been consistently growing since last year, with its top performing products, live dealer games and slots, reaching their peak in the fourth quarter.
Up until the end of January 2022, the operating revenue has reached an impressive $1.22 billion, showcasing a remarkable growth of 90.6% compared to the previous year’s total revenue of $638.8 million.
The significant surge in revenue can be attributed to the amplified commission income generated by both existing and new players of Evolution.
In addition to generating revenue, Evolution has ventured into several business opportunities. These include partnering with Betway for gaming distribution in the US and establishing a dedicated studio for live online casino in New Jersey for Penn Interactive. Furthermore, the company has acquired DigiWheel for $1.2 million, aiming to enhance their iGaming portfolio.
The 2022 FY is expected to steadily increaseIn light of these advantageous factors, Martin Carlesund, the Chief Executive of Evolution, expressed the following statement.
As we conclude 2021, we have surpassed 1,000 live tables, experiencing an impressive growth of over 300 tables throughout the year. This remarkable increase stands as the highest achieved in a single year. Such a significant expansion would be commendable even in ordinary circumstances, but considering the obstacles presented by the pandemic, I cannot help but feel immense pride.
The expansion resulted in a rise in operating expenses, with costs increasing by $472.4 million or 58.7%. Earnings before EBITDA also experienced a significant surge, climbing by $836.8 million or 121.2%.
The last quarter of Evolution was undeniably incredible, and we have high expectations for their upcoming quarter as well.
In conclusion, Carlesund concludes his statement by stating, “In summarizing the last quarter of yet another eventful year, we are steadfast in our commitment to progress at full throttle. The recent unveiling of our 2022 product roadmap sets the stage for an exhilarating year ahead, as we persistently strive to enhance the player experience and widen the gap between ourselves and our competitors.”
Top Game Providers to Watch Out For
Although Evolution is a well-known name in this market, there are other game providers that are gaining popularity in this industry. These providers offer a range of both familiar and innovative games. We have compiled a list for you to explore and encourage you to read more about each of them.
- IGT
- NetEnt
- Everi
- Inspired
- Big Time Gaming is a company known for its significant presence in the gaming industry.
