October 29, 2021 3 min read


Evolution Scores Year-to-Year Revenues Increase in Q3 2021

B2B supplier of live casino services Evolution Gaming continues enjoying a significant increase in revenues in Q3 2021 thanks to its expanding portfolio of offerings.

Evolution Gaming’s Revenues Have Doubled Up

In the third quarter of 2021, Evolution has seen double the revenues it got for the same period in 2020. In comparison, its Q3 2020 revenues sat at around $163 million, while its current Q3 revenues increased to $322 million.

Evolution Gaming’s EBITDA has more than doubled. The company reported it to be $225 million for Q3 this year, which is a 113% increase compared to the $106 million in 2020.

The B2B company’s chief executive officer, Martin Carlesund, spoke about the numbers. He pointed out that the speed at which Evolution Gaming is expanding is a testament to the team’s hard work. Carlesund congratulated everyone on the company for making these financial results possible. He stated:

“We are in the process of reshaping our RNG business. This year we have both re-structured the product roadmap and also re-built the complete technology platform for NetEnt.”

B2B company’s chief executive officer, Martin Carlesund

Carlesund added that Evolution Gaming’s primary goal is to “entertain players with the best possible choice of world-class gaming.” He and his team are committed to continuing their hard work and making more immersive and exciting gaming content.

More Numbers to Put Evolution’s Growth Into Perspective

If we take in mind the whole nine-month period until now, Evolution Gaming has exactly doubled its revenues from around $448 million to around $897 million. Its Q1-Q3 period EBITDA has seen a 127% year-to-year increase from $307 million to $618 million.

Evolution Gaming’s newly-acquired slot machine brand Big Time Gaming was highly successful. Together with the NetEnt brand, it garnished over $12 million in RNG revenues. NetEnt, in particular, marked 3% year-to-year growth. The Red Tiger Gaming brand also enjoyed similar growth numerals.

Evolution Gaming’s strongest market is Europe which yielded Evolution Gaming a total of $162 million of its total revenue. Out of this number, $22 million come from the United Kingdom and another $19 from the Nordic market.

Asia is Evolution Gaming’s second strongest market, which earned the company $89 million for the third quarter. It is followed by North America, which garnished about $37 million.

North America is still a fairly new market for Evolution Gaming but the company is keen to explore its various regions and tremendous opportunities. Evolution Gaming recently expanded its operations in Ontario, Canada, as well as Connecticut and Michigan in the United States.


Yasmin is an iGaming and gaming journalist with over 10 years of writing about various publications. Her experience spans the entirety of iGaming, traditional sports, as well as online poker. She is well-versed in every aspect of online gaming and her wealth of knowledge provides additional substance to our coverage.

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