Evolution Gaming enjoys a positive financial growth in Q1 2017. While the success of Evolution Gaming stems from its reputation for producing quality gaming solutions, a bulk of it comes from its quality live casino game offering.
This growth also covers Evolution Gaming’s venturing into new markets as the iGaming company recently entered the Bitcoin gambling sector.
Evolution Gaming increase in finances
Evolution Gaming just announced its operating revenue in the first quarter of the year. The company’s operating revenue from the start of the year to March 31 reached €39.7 million or $42.6 million. This is a 60-percent increase from its €24.8 million operating revenue in the first quarter of the previous year.
After taxes, amortizations, interest, and other fees, the company’s earning amounts to €17 million. This has a margin of 43 percent from last year.
Evolution Gaming’s increase in earnings is thanks to the company’s live casino software. This can also be due to the hosting of its live dealer games in popular Bitcoin brands. This includes Omni Slots, 1xBit, and Jetbull. With the growing interest in the digital currency, Evolution Gaming might still enjoy an increase in its operation revenue in the future by continuing to tap into the Bitcoin iGaming market.
Martin Carlesund, chief executive of Evolution Gaming, said:
“The strong momentum that we experienced towards the end of last year continued into 2017, and January and February were particularly strong, with a very high level of activity among our customers. There tends to be favourable activity early in the year and 2017 has been no exception; we have seen generally high player volumes among all types of customers, both small and large well-established operators, while customers are also increasingly optimising their live casino offerings.”
Evolution Gaming expansion
The iGaming market is looking to expand its market outside of the EU by launching a new studio in Canada. The studio will launch at the end of this year in the bustling Vancouver seaport city. This will be the 8th studio of Evolution Gaming.
The team behind the company got to close a five-year deal with the British Columbia Lottery Corporation. This deal allows the company to offer its unique brand of fiat and Bitcoin live casino games via the PlayNow.com website. Once the studio launches, PlayNow.com will host 10 of the company’s live dealer games. These games will be available in desktop computer and mobile devices.
Carlesund also said:
“Entering the Canadian market with BCLC signifies a huge breakthrough, outside of our European operations. This latest expansion consolidates Evolution’s position as global leader in the B2B live casino market; this delivery further highlights our ability to provide solutions that meet the most stringent requirements of regulated markets.”
With Evolution Gaming’s continuous market expansion, its Q1 success may extend for several months and further solidify its bid as a top iGaming live casino game provider.