Evolution's Record-Breaking Q3 Revenue Driven by Live Casino Segment Growth

Evolution, the world’s leading supplier of live dealer games for online casinos, has announced its financial results for the third quarter of 2023. The company achieved record-breaking revenue during this period, with a total of 453.6 million euros.

Live Casino Segment Drives Revenue Growth

The impressive financial performance was primarily driven by Evolution's live casino segment, which generated 358.8 million euros in revenue, representing a significant increase of 24.3 percent compared to the previous quarter.

Increasing Demand for Live Casino Content

Martin Carlesund, the Chief Executive Officer of Evolution, highlighted the rapid growth in demand for live casino content. To meet this increasing demand, the company plans to open more studios and expand its production capabilities. Carlesund emphasized the need to recruit additional staff and open new studios in Europe, North America, and Latin America.

Expansion Plans

Evolution has already opened a live casino studio in Colombia at the beginning of the fourth quarter. Additionally, the company plans to open a new studio in Europe by the end of the year and three or four more studios next year across Europe, North America, and Latin America.

RNG Segment Performance

While the company's random number generator games (RNG) segment experienced a decline in revenue by 1.9 percent to 66.8 million euros, Carlesund remains optimistic about its progress. He stated that the focus is on improving the RNG business step-by-step.

Regional Revenue Breakdown

Europe remained the most lucrative market for Evolution, generating 175.1 million euros in revenue during the third quarter, a 10 percent increase compared to the same period last year. Asia also showed significant growth, with revenue of 172.1 million euros, a rise of 34.7 percent year-on-year. North America contributed 54.7 million euros, while Latin America drew 34.4 million euros.

In conclusion, Evolution's financial results for the third quarter of 2023 demonstrate the company's exceptional performance, driven by the success of its live casino segment. With plans to open new studios and expand production capabilities, Evolution is well-positioned to meet the increasing demand for live casino content. Despite a decline in the RNG segment, the company remains optimistic about its progress. The regional revenue breakdown highlights the strong performance in Europe and the significant growth in Asia. As Evolution continues to innovate and expand, it is poised for continued success in the online casino industry.