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Evolution Gaming – INTERIM REPORT FOR JANUARY-MARCH 2020

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Evolution released  its Interim Report for January-March 2020.

First quarter of 2020 (Q1 2019)

  • Operating revenues increased by 45% to EUR 115.1 million (79.3)
  • EBITDA increased by 79% to EUR 64.1 million (35.9), corresponding to a margin of 55.7% (45.3)
  • Profit for the period amounted to EUR 54.2 million (28.6)
  • Earnings per share before dilution amounted to EUR 0.30 (0.16)

Events during the first quarter of 2020

  • Continued high demand generates a positive effect on margin development.
  • Adaptation of operations as a result of covid-19 to ensure the operation and safety of employees.
  • Repurchase of 338,000 shares in order to improve the capital structure by reducing the capital, and thereby creating added shareholder value.

Summary of the first quarter 2020

Comments from Group CEO Martin Carlesund:

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“The spread of COVID-19 has put the world in an exceptional and challenging situation which has also meant operational trials for Evolution. So far, we have handled the situation in a good way, and financially, Evolution has started 2020 very strongly in terms of both growth and profitability.

Revenues for the first quarter amounted to EUR 115 million, an increase of 45 percent compared to the first quarter of 2019. EBITDA amounted to EUR 64 million with a margin of 55.7 percent. With a good financial start to the year, great confidence ahead of the upcoming product launches and a good momentum at the start of the second quarter, I am more certain of our objective for 2020 to improve the margin level compared to 2019. Together, all employees did a fantastic job during the first quarter. I am deeply grateful for the energy and determination with which we have taken up the challenge – we have step-by-step, methodically moved forward every day. Of course, this work continues as we work to stay ahead of the developing situation. Our main priorities in dealing with the COVID-19 situation are to minimize the risk of spreading the virus and to create a safe workplace for our employees as well as to maintain the operation for our operators. We continue to comply with all the requirements from the authorities in the countries we operate in, and in many cases we have taken more far-reaching initiatives. Thanks to the extensive measures that have been implemented in terms of social distancing, changed working processes and routines for our employees, our operations have been able to continue without any large negative effects. However, in several of our studios, we operate with fewer tables compared to normal, and our studios in Georgia and Spain have been temporarily closed during limited periods. During these periods, a large share of the traffic has been managed by the company’s other studios. To be a global company with sites across multiple territories has been an important factor during these times. With that said, our studios in Latvia and Malta are important hubs from which several of our most popular titles are broadcasted.

We have seen an increased and strong demand for our products all through the first quarter. During the end of the quarter the absence of sporting betting games likely also favoured growth in our products. This circumstance effects also the start of the second quarter and we now see many new players being introduced to the Live segment. All in all, this means that we have a very good start to the year so far, but there will be also continuous challenges as we have not seen the end of the development of COVID-19 yet.

We continue unabated with investments in both studios and new games. During ICE in London earlier this year, 12 new titles were announced, of which two went live during the first quarter; Speed Blackjack and Lightning Baccarat. Today, 23 April, we are launching Mega Ball – including a First Person version. Mega Ball is our first game in the lottery vertical. During its beta phase, the game has exhibited a high attraction and it will be interesting to follow the games development. In addition, we will extend our First Person portfolio with three more launching in the second quarter. Another two table games will also be launched during the quarter, Power Blackjack and Baccarat Multiplay.

The construction of our new studio in Pennsylvania continues but with a postponed timetable due to the COVID-19 situation. However, our aim to launch it before year-end remains. Michigan has accelerated its casino regulation process and we hope that the state soon will be the third regulated market in the US. In South Africa we have received a National Manufacturer license. The license means that Evolution now is able to offer its and the subsidiary Ezugi’s products to all licensed gaming operators in South Africa.

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To conclude, I am proud of how we have started off the year from a financial perspective, but even prouder of how we have handled these difficult times from an operational standpoint. All employees have showed that they are fast-paced, flexible and that even in hard circumstances they are able to maintain their focus on our given path; to continue to increase the gap to the competition and to strengthen our leading position.”

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Travis Sztainert Joins ICRG as Director of Research and Education

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The International Center for Responsible Gaming (ICRG) has welcomed Dr. Travis Sztainert as its new director of research and education. Dr. Sztainert, a distinguished researcher and knowledge translation professional, brings a wealth of experience and expertise in responsible gambling research to the ICRG. With a proven track record in effectively bridging the gap between knowledge, policy, and practice, he will help further the impactful work of the ICRG.

“We are delighted to welcome Dr. Travis Sztainert to the ICRG team. His extensive background in responsible gambling research and his commitment to transforming data into actionable knowledge align perfectly with our organization’s mission. We look forward to leveraging Travis’s insights to advance our efforts in promoting responsible gambling practices,” Arthur Paikowsky, President at ICRG, said.

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iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’

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Industry professionals attending July’s edition of iGB L!VE will have access to a vibrant new feature which will showcase ground-breaking tech and innovation courtesy of the brightest start-ups and small businesses in gaming.

The iGB L!VE LaunchPad (Pulse Stage: 18 July 16.30hrs – 18.00hrs) will feature five companies to present their innovations to a panel of judges with each presentation followed by a probing Q&A session designed to interrogate the viability and commercial prowess of each product pitch.

Introducing the new feature Portfolio Director Naomi Barton, said: “iGB L!VE is constantly evolving in order to meet the business needs of stakeholders. The research programme that we undertake with customers has consistently highlighted a shared desire to always be ahead of the curve, being the first to access the very latest innovations from the start-up community is part of what iGB L!VE 2024 will deliver.

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“In addition, we want to provide a platform for new talented businesses to grow by giving them extra exposure in front of an influential C-Level audience of industry investors and influencers.

“The top five products will be hand-selected by the iGB L!VE team and invited to present from the Pulse Stage. In order to help these businesses, we are providing cash prizes of £5,000 for the winner, £2,500 for second place and £1,000 for third.”

She continued: “We will be giving the feature an authentic iGB L!VE twist with the emphasis on competitive fun. To ensure this, I am delighted to confirm that 25+ year industry veteran and non-exec Clarion Gaming Chairman Michael Caselli has agreed to be our MC and will also head a panel of judges drawn from across the iGB L!VE community of industry professionals, investors and sponsors.

“Start-ups and small businesses which have innovation in their DNA can sign up for iGB LaunchPad at igblive by the 28 June deadline.”

iGB L!VE is the home of the igaming community and the only event that connects the leading igaming affiliates, operators, tech vendors, game providers and suppliers in order to maximise performance and drive tangible business growth in the following 12-18 months. iGB L!VE, which is the fastest growing igaming event, delivers unparalleled business opportunities with attendees having free access to in excess of 300 exhibitors and sponsors occupying 21,000+ square metres of gross space, a figure which is 35% higher than in 2023.

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For more information on iGB L!VE (16-19 July 2024: Expo Days 17-18 July) and to register for free visit: igblive website

 

The post iGB L!VE announce LaunchPad, a new feature for start-ups with ‘innovation in their DNA’ appeared first on European Gaming Industry News.

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Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina

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The Ortak x B.F.T.H. Arena Awards 2024 welcomes Endorphina among other top game developers with its Mr. First Ray, a mystical slot game that captures the essence of dawn.

This year’s competition has seen an unprecedented increase in participation, receiving over 100 submissions from more than 70 developers involved in the innovative Ortak initiative. This platform not only promotes collaboration and innovation but also integrates gaming stakes with NFTs on the Bahamut blockchain, thereby broadening investment prospects in the iGaming sector.

Mr. First Ray transports players into a world where each spin can lead to magical wins and enchanting surprises, making it a standout in this year’s entries. As the event approaches, excitement mounts among industry professionals keen to explore this showcase of creativity and excellence in game development, scheduled from July 1 to 4.

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Hosted by BetConstruct, the B.F.T.H. Arena Awards provides a prestigious platform for developers to exhibit their creativity and compete for a share of the substantial 3,333,000 FTN prize pool. This year, the event has broadened its scope, introducing new award categories to further celebrate innovation in gaming.

The culmination of the event will see the winners announced at the B.F.T.H. Arena x Harmony Meetup V, ensuring an exhilarating experience for all attendees.

The post Ortak x B.F.T.H. Arena Awards 2024 Features Mr. First Ray by Endorphina appeared first on European Gaming Industry News.

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