Renowned online live dealer casino solutions provider Evolution Gaming has recently reported significant revenue rise in the first quarter of the year. According to the revenue report, the company’s profits nearly doubled in the first quarter of 2020 ending March 31 – this brought the Stockholm-listed organization’s revenue to a whopping €115.1 million.
The revenue that was recorded was not only a 45 percent increase from the same period in 2019 but also represented a 79 percent increase in earnings. Consequently, Evolution Gaming’s margins rose to 55.7 percent thus pushing its profits up by 90 percent to €54.2 million.
The Contributors
According to the revenue figures that were released about a week ago, the Asian market accounted for most of the revenue with the European and North American markets following closely behind. The online gambling operator has been growing at a pretty fast pace in most of these markets – the United States, for instance, has seen a steady rise in the number of states that have approved online gambling.
While the growth of those markets certainly had a lot to do with the stellar revenue performance, it goes without saying that the figures also got a big boost from bettors seeking alternative betting options amid the lockdown caused by the coronavirus pandemic.
Speaking on this, Martin Carlesund, the company’s chief executive pointed out that the massive demand for alternative betting options is set to continue even to the second quarter. Already, the company has gained a lot of exposure and this will probably propel further growth.
“The spread of COVID-19 has put the world in an exceptional and challenging situation which has also meant operational trials for Evolution. So far, we have handled the situation in a good way, and financially, Evolution has started 2020 very strongly in terms of both growth and profitability.”
Evolution Gaming CEO Martin Carlesund.
The company has handled the situation in a manner that has been commended by many and this is perhaps the route other companies should take going forward. The company has achieved a certain level of quality and momentum that sets it up for greater things both in the near future and in the long term.
More Gaming Options
Evolution has been very aggressive in its pursuit of growth. It is not taking advantage of the opportunity. That said, both the new and existing players will have access to a ton of great games including newly rolled out titles such as Mega Ball, a fast-paced game show that is already quite popular among its customers.
