Evolution’s Q2 revenue increased 100% year-over-year

Evolution's Q2 revenue increased 100% year-over-year

Evolution reports that its operating revenue for the second quarter of 2021 was €256.7 million ($31.8 million), an increase of 100% compared to the same period last year.

EBITDA increased by 115% to €174.7 million and profit increased from €70.4 million to €144.4 million.

Evolution highlighted the continued high demand for live casinos during its key event in Q2 2021, with vertical growth up 59% year-over-year. The company also announced the acquisition of Big Time Gaming, which closed on June 30, and Evolution’s new Michigan studio was approved after the period ended.

“The demand for expansion is high and we will continue to invest in existing and new studios in North America and Europe,” said Martin Carlesund, CEO of Evolution. “During 2021 we will add two new shipping hubs in Europe.

“As we enter 2022, we will continue to expand and invest in our studios, not only in our current location, but also in new markets such as Latin America. Still, the pandemic continues to affect our expansion plans and we continue to follow the guidelines set by the countries in which we operate. The overall situation is improving, but it is still very difficult and the epidemic is not over.”

Evolution also reported financial results for the first half of 2021, with operating revenues of €492.5 million, up 102% year-over-year. EBITDA increased by 130% to €334.8 million, and profit for the period increased from €124.6 million to €276.4 million.

“This is a very active time within the company,” Carlesund adds. “We are very excited about the second half of the year and will continue to widen the gap with our competitors.”

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