Fuelled by its acquisition of fellow Swedish betting supplier NetEnt last year, Evolution gaming has put in a spectacular financial half that has seen both its revenue and profit more than double.
The premium B2B supplier of digital gaming systems notched up revenue of €492.5 million (£426.11m/US$579.73m) for its HI, ending June 30, an increase of over 102 per cent year-on-year.
And while there was a big increase in operating expenses during the period, earnings before EBITDA soared by 130.4 per cent and were up to €334.8 million (£289.67m/US$394.10m).
“Our long term ambition is to be the global market leader. We want to re-shape the online casino market in the world. It’s that simple. It’s very active in the company right now,” said Evolution’s Chief Executive Martin Carlesund.
Live casino games led the charge in H1, accounting for €387.4 million of all revenue, an increase of 59 per cent (£335.18m/US$456.01m). Thanks to its acquisition of NetEnt, so-called random number generator games (RNG) pulled in €105.2 million in the half (£91.02m/US$123.83m).
The company paid €17.4 million in tax (£15.05m/US$20.48m), leaving an overall profit of €276.4 million for the half, a year-on-year increase of almost 122 per cent (£239.14m/US$325.35).
“Live casino continues to see exceptional worldwide demand. It’s good to see it continue to deliver such a high growth rate [quarter after quarter],” said Carlesund.
Earnings per share during the half were registered at €1.30, up 69 cents over the period.
World domination? Still a way off.
But for Evolution it seems it can’t come soon enough.