A few months back, Evolution Gaming announced that it will open a new live gaming studio in Atlantic City, New Jersey by the end of this year but thanks to the amazing numbers for the second quarter we can expect the launch of the studio to go ahead a bit sooner.
The Q3 Report
The live dealer specialist Evolution has released the interim report for the period between April and June 2018 and the company went from strength to strength with revenue, earnings and profit all rising more than a third.
Evolution generated revenue of €59.3 million in the last three months which is a 40% improvement over the same period last year. Earnings were up 36% to €26.2million while profit jumped 37% to €20.1million. This takes operating revenue for the half-year to €110.8 million and a profit of€36.7.
These hefty numbers happened thanks to the company’s voracious expansion and the growth from the studios from “the rest of the world” category rose by 14% to 25% when compared with the same period last year.
The first studio launch outside Europe was in February in British Colombia and the international expansion will continue with the studio launch in New Jersey in the third quarter.
The FIFA World Cup definitely marked the second quarter and Evolution sees the continued favorable demand for tables even after the Cup ended so they are expanding resources for maximum efficiency. Besides showing significant gains in revenue and EBIDTA, the report specially mentioned the upcoming launch of its brand new studio in New Jersey in the next two months.
The Atlantic City Studio
The new studio will initially add ten tables and will serve a number of different operators around the world.
The tables will include Live American Roulette, Blackjack, Baccarat, Three Card Poker, Ultimate Texas Hold’em, and Slingshot Auto Roulette. Evolution stated that the new studio will also aim to expand in the future.
Evolution previously announced deals with the New Jersey online operators Ocean Resort Casino, Resorts Casino Hotel and 888 Holdings, so the initial 10 tables in Evolution’s New Jersey studio will definitely be earning their keep.
Evolution hired 1,000 full-time employees I the last 12 months and they hope to have over 500 tables in operation before the year ends.
“With half of 2018 behind us, I can state that we are continuing to deliver on our ongoing mission to continuously extend the gap between us and our competitors. Evolution’s operations are becoming increasingly global, with over ten years’ experience of delivering the best live casino services to both pure online operators and land-based casinos in a growing number of markets.”
”I and all of Evolution’s employees look forward to the second half of the year, in which we will continue to create fantastic Live Casino experiences, both for our customers and their end users.” Evolution’s CEO Martin Carlesund commented.