Evolution Gaming Q1 Revenues & Profits Jump

Evolution Gaming announced their first quarter results for 2021 showing operating revenues soaring by 105% to €235.8 million, with EBITDA increasing by 105% to €160.1 million.

Profits for the three month period stood at €132 million compared to €54.2 million in the first quarter of 2020.

Evolution Gaming CEO Martin Carlesund said: “The positive trend from 2020 continues in to the first quarter of 2021 where we see a good momentum both in terms of growth and profitability. The integration of NetEnt has been successful. I am truly impressed by the work from our teams, who, without losing focus on the daily high-quality delivery, and in a very short time, have managed to merge both workflows and organizational structure. We can already see good results from this work in the first quarter and I believe that we are well-set to continue to capitalize on the growing interest in online casino world-wide.”

“The revenues for the first quarter, including the acquired NetEnt business, increased by 105 percent to EUR 235 million, compared to the first quarter of 2020. EBITDA increased to EUR 160 million, corresponding to a margin of 67.9 percent. During the quarter we have closed the synergy project reaching EUR 40 million in annual run-rate cost synergies related to the acquisition of NetEnt – 9 months earlier than our original plan. We will continue our constant aim towards cost-efficiency even if not reporting any synergies moving forward.”