February 10, 2021 3 min read


Evolution Posts Record Growth, Game-Show Segment on Focus in 2021

In the latest earnings update, Evolution CEO Martin Carlesund has revealed the numbers for both Q4 2020 and the entire year, touting strong online growth across the company.

Evolution Posts Strong Q4 and 2020 Year

Evolution has delivered its annual financial report, covering the results of the fourth quarter and citing overall growth throughout 2020, as well as touching on the company’s outlook in 2021 and beyond. The report opened with a comment on Q4 2020 results, posting operating revenue increase of 68% to €177.7 million.

According to the report, EBITDA adjusted for non-recurring items amounted to €115.6 million or up 107%. Profit hit €80.6 million, another decent result, and earnings per share amounted to €0.42.

For the full year, Evolution saw operating revenue jump by 53%, up to €561.1 million. The profit for the period hit €284.6 million and earnings per share landed at €1.55. To comment on these results, Evolution CEO Martin Carlesund delivered a statement encompassing developments.

Last year has been a significant step forward for the company, Carlesund noted, and not least because of NetEnt’s acquisition, empowering both the live and iGaming verticals. Carlesund said he had no doubts that the deal would make it possible for Evolution to dominate global markets through sheer quality of the existing and new products.

Evolution Set to Strength Markets Exposure

Evolution is looking to penetrate new and deepen its existing ties with key markets such as North America, Asia and Europe, and 2021 will boil down to expansion in these regions as well as outpacing competition.

Carlesund confirmed a strong engagement response from audiences through the casino’s live portfolio. He further said that games launched in 2020 performed well. This year, Carlesund expects to see a strong focus on the Game-Show segment which remains a priority as part of the company’s bid to serve new player categories.

Commenting on NetEnt’s acquisition, Carlesund explained that it was his strong believe that together with NetEnt, the two companies (now merged) can create “something great.” The first months of 2021 are also going to be exciting, the chief executive argues, and adds:

“We will achieve approximately EUR 40 million of annual run-rate cost synergies which is 10 million more than earlier communicated.”

-Evolution CEO Martin Carlesund

Moving forward in time, Evolution will continue to focus on its live casino product, with the added touch of slot business expansion, he added. Evolution has expanded successfully in Pennsylvania and Michigan and growth in the United States has been one of the pivots for the company. Evolution has also teamed up with FanDuel, a US-based daily fantasy sports platform.

Yet, there have been successes elsewhere, including in Colombia and South America in general, as well as Africa. The pandemic has not slowed down growth, and just like before February, Evolution continued to accelerate its growth all throughout 2020.

Evolution is committed to innovating and pushing boundaries when it comes to iGaming, Carlesund said and noted that there was a lot to look forward to in 2021.

Lead Editor

Mike made his mark on the industry at a young age as a consultant to companies that would grow to become regulators. Now he dedicates his weekdays to his new project a the lead editor of GamblingNews.com, aiming to educate the masses on the latest developments in the gambling circuit.

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