February 9, 2022 4 min read


Evolution Goes over the One Billion Full-Year Revenue Mark

Evolution’s Year-End Report for 2021 is out, and the numbers are looking great for the global gaming supplier. According to the fresh retrospective of 2021, the award-winning provider of an online live dealer and live game shows reached several important milestones last year, including going over the yearly revenue mark of €1 billion ($1.14 billion). One of the main drivers of this incredible growth was Evolution’s live gaming segment that grew by 49% in Q4.

Evolution’s Q4 2021 Numbers

The NASDAQ-listed group recorded excellent results during the last quarter of 2021, proving the importance of its player experience-centered approach, as well as the power of its scalable business model. Evolution’s operating revenues spiked by 69% in October-December 2020 compared to the same quarter in 2021, from €177.7 million ($203.2 million) to €300.2 million ($343.2 million). One of the major factors that triggered the surge in the operating revenue numbers in the fourth quarter of 2021 is the massive demand for live dealer games that went up by 49%.

The live casino segment represented over three-quarters of the supplier’s revenues in Q4, reaching the €237.4 million ($271.4 million) mark. Evolution’s random number generator segment business also managed to go up 9.4% compared to the previous year’s numbers, reaching €62.9 million ($71,9 million).

Q4 2021’s profit went up by 114%, reaching €171.6 million ($196.2 million) from €80.6 million ($92.1) million in Q4 2020. The Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) also went up by 115%, from €96.2 million ($110 million) in Q4 2020 to €206.9 million ($236.5 million) in Q4 2021.

Evolution’s impressive growth during Q4 2021 comes in the context of the Covid-19 pandemic challenges, as well as the growing, ongoing demand for live dealer gaming. The supplier has finished the year with a whopping library of 1,000+ live table games, which is 300 more compared to 2020 and also the largest increase ever to be recorded by evolution during a single year.

Evolution’s 2021 Full-Year Figures

Evolution’s talented team of determined and capable creators also generated some impressive full-year numbers in 2021. For example, the developer’s operating revenues went up by 90%, from €561.1 ($641.4 million) in 2020 to €1.06 billion ($1.21 billion) in 2021. The profit for the year reached €605.4 million ($692.3 million) in 2021, from €284.6 million ($325.4 million) in 2020.

EBITDA also recorded an increase of 121%, from €332.2 million ($379,8 million) in 2020 to €734.7 million ($840 million)in 2021. The growth corresponds to a margin that went up from 59.2% in 2020 to 68.7% in 2021. The value of the dividends proposed by the board of directors also went up from €0.68 ($0.77) per share in 2020 to €1.42 ($1.14) per share in 2021.

2022 Plans for Evolution

The supplier wishes to deliver a more significant RNG growth in 2022 than the previous year, even though the growth is not expected to be smooth and linear. While the EBITDA margin managed to successfully remain stable in 2021, Evolution plans on pumping a lot of investment funds in innovation, the expansion of their current gaming studios, as well as in building brand new ones. The projected EBITDA margin for 2022 is somewhere between 69% to 71%.

The supplier will be releasing 88 fresh games throughout the year, catering to the needs of a diverse array of players with the powerful synergy of all of its brands, including NetEnt, Red Tiger, Ezugi, or Big Time Gaming. Their one-stop-shop solutions and much-anticipated game releases in Q1 that include BacBo, a simplified Baccarat variant played with dice instead of cards, and Peek Baccarat, a one-of-a-kind version of the popular casino game, are all expected to help Evolution reach its 2022 goals. 

Evolution already signed a new deal with FanDuel at the beginning of February, with the two companies teaming up for a live casino extension in the US. In December, the supplier consolidated its presence in Austria by signing a deal with an Austrian Lotteries brand and agreeing to add three live casino tables to the casino’s offer

Knight Rider by NetEnt’s Knight and Narcos Mexico by Red Tiger are two hot slots that will be released during the first half of the year. The supplier will also launch a new gaming studio in Connecticut, moving full speed into 2022 and setting the defining tone for what looks like another successful year for Evolution.

After finishing her master's in publishing and writing, Melanie began her career as an online editor for a large gaming blog and has now transitioned over towards the iGaming industry. She helps to ensure that our news pieces are written to the highest standard possible under the guidance of senior management.

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