Swedish iGaming innovator Evolution Gaming Group AB has released its second-quarter financial results showing that its operating revenues doubled year-on-year to reach almost €256.7 million ($302.1 million).
The Stockholm-listed firm used an official press release to explain that this striking increase led to its earnings before interest, tax, depreciation and amortization for the three months to the end of June rising by 115% year-on-year to about €174.7 million ($205.6 million) off of a corresponding margin that improved by 4.8% to hit 68%. The company moreover disclosed that all of this pushed its quarterly profit up by 105% to slightly beyond €144.4 million ($169.9 million) and helped its earnings per share surge by 75% to €0.68 ($0.80).
Evolution Gaming Group AB offers iGaming operators around the world an extensive selection of online casino games and recently inked a deal that is set to see it acquire smaller Australian rival Big Time Gaming Proprietary Limited for approximately €455 million ($536 million). The United Kingdom-licensed developer additionally supplies a broad range of live-dealer titles and finalized a €1.8 billion ($2.1 billion) all-share arrangement late last year in order to take over industry pioneer NetEnt AB.
Also responsible for innovative mobile gaming specialist Ezugi, Evolution Gaming Group AB impressively went on to detail that its operating revenues for the first six months of 2021 had swelled by 102% year-on-year to surpass €492.5 million ($579.6 million) as its associated earnings before interest, tax, depreciation and amortization advanced by 130% to €334.8 million ($393.9 million). It divulged that all of this had taken its half-year profit up by 122% to slightly beyond €276.4 million ($325.1 million) as its earnings per share rallied by 88% to €1.30 ($1.52).
As for the reasons behind this success and the Chief Executive Officer for Evolution Gaming Group AB, Jens Von Bahr, used the press release to declare that his firm had experienced a boost of 59% year-on-year in demand for its live-dealer games alongside ‘very strong top-line growth and good momentum’. The boss furthermore pronounced that his company is likely set to continue this success thanks to its policy of ‘continuously recharging its product offering’ as well as the recent approval that will see it premiere a new live-streaming studio for iGaming aficionados in the American state of Michigan.
Read a statement from Von Bahr…
“It is a very active time within the company right now. I very much look forward to the second half of the year and to continuing to widen the gap to our competitors. We remain paranoid as ever and know that only by working hard to improve our offering step-by-step, day by day, every day can we reach our goals.”