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Evolution Publishes Interim Report for the First Quarter of 2022

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Gambling technology supplier Evolution AB has published its interim report for the first quarter of 2022.

Highlights

  • Operating revenues increased by 38.6% to EUR 326.8 million (235.8)
  • EBITDA increased by 43.4% to EUR 229.7 million (160.1), corresponding to a margin of 70.3% (67.9)
  • Profit for the period amounted to EUR 197.7 million (132.0)
  • Earnings per share before dilution amounted to EUR 0.93 (0.62)

Events During the First Quarter of 2022

  • In the quarter, 747,000 own shares were acquired. A total of 1,905,865 shares have been acquired and the repurchase programme, announced on 3 December 2021, is thereby completed.
  • Launch of Lightning Roulette in New Jersey with other states to follow.
  • After the end of the period, Evolution went live with an extensive set of online casino services for multiple operators in the new regulated online gaming market in Ontario, Canada.
  • After the end of the period, the first tables are live in our new Madrid studio.

CEO’s Comments

“I’m very happy to see the great work of all Evolution employees producing yet another strong quarter. We continued the strong development from 2021 also during the first quarter of this year. Revenues in the quarter increased by 38.6 percent to EUR 326.8 million, supported by continued strong demand for Live Casino, and the EBITDA increased to EUR 229.7 million, which corresponds to an EBITDA margin of 70.3 percent.

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Looking back at the start of this year the developments outside of Evolution are very much in my thoughts. Even though we were happy to see the effects of the pandemic slowly subsiding in Europe and North America during the quarter our attention moved to the war and the humanitarian catastrophe in Ukraine created by the unprovoked invasion from Russia. At the start of the war Evolution had approximately 100 co-workers based in Kyiv. As for now, the war has limited direct financial impact on our business but emotionally it has affected us all. We will naturally continue to follow the development closely.

The first quarter for Live Casino has started very well with good momentum on most metrics resulting in a strong growth of 44.0 percent. We experienced exceptional growth in the first half of 2021 so the comparable figures are demanding. 2022 has started very well and the entertainment and excitement that Live games offer continues to drive new as well as existing customers to our games.

RNG growth of 1.8 percent year on year pro-forma is in line with our expectations. While structural efforts, such as the One Stop Shop and other cross sales activities are important elements, at the end of the day the key for improved growth is developing great games to all players. End-user satisfaction is always key and taking us there is not done overnight. The road to success will not be straight-lined but the focus and ambition is clear and I’m convinced that we will reach our growth ambitions over time.

The EBITDA margin of 70.3 percent is a step up from the same period last year and within our guidance of 69-71 percent for 2022. I’m happy with this delivery during Q1, especially considering the situation in the world with general cost increases not only relating to transport and energy. Looking ahead we see that the guidance of 69-71 percent EBITDA margin remains.

For us at Evolution, launching new games is what we live for. Creating new fantastic end-user experiences and simply put – to innovate! New games build loyalty among our existing players, introduce existing players to new games they have not played before and attract completely new categories of players. In Q1 we launched Bac Bo, a unique dice game which combines elements of the classic games Baccarat and Sic Bo. We also released Peek Baccarat which is another version of the classic Baccarat. In the quarter we also introduced new RNG titles such as Narcos Mexico and Knight Rider, as well as home grown brands like Doggy Riches Megaways and Zillard King. During the remaining part of the year, we have a very strong line up of new games both in RNG as well as in Live – a very exciting time indeed.

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There is a continued strong demand for online casino across the globe. In North America we continue to expand all our studios, with Connecticut as the next studio to be launched during 2022. In Asia we also continue to experience good growth, while the more mature European markets are, in general, in slower growth mode – some due to regulatory changes affecting operators. However, we still see growth opportunities in Europe. LatAm also offers good potential going forward and continues to develop with several markets in discussions regarding regulation of their market for online gaming.

As I write this we are in the final preparations of Go-Live in our new studio in Madrid and as you read this the first tables are just opening! Also, we are moving closer to open our Yerevan studio to add even more capacity to the Evolution network. A lesson learned during the pandemic years is to not be too dependent on any one studio. Today we can efficiently allocate our resources within our network of fifteen studios and shift resources from one site to another when needed, without any impact on our delivery capacity. As we add studios to the network this becomes even more of a strength benefiting our operators. As earlier communicated, we expect total investments in new studios to increase also in 2022.

We are well on our way into 2022, leaving the first quarter with good delivery and momentum. We strive to be better every single day, every single one of us, and we fight every day to increase the gap to our competitors. With our 88 new games 2022 we have shown what thousands and thousands of fantastic Evolution employees can achieve together. Evolution is a workplace where everyone is accepted and respected. Together, we hope for a brighter end of 2022 than the beginning.”

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Americas Online Gambling Market To Soon Eclipse Europe’s, Finds Vixio Forecasts

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  • Vixio forecasts that regulated online GGR in North and Latin America will grow at a compound annual rate of 3 percent from US$22.3bn in 2023 to US$56.3bn by 2028, drawing level with regulated European market.

Vixio, a leading provider of regulatory intelligence solutions, ahead of SBC Americas forecasts that the regulated online gambling market in the Americas to be worth US$32.5bn by 2026, compared to US$15.6bn in 2022, more than doubling in size in a period of four years. This growth rate is more than double the equivalent in Europe, with the European regulated online gambling market projected to be worth €37.3bn in 2026, up from just under €30bn in 2022.

By 2028, regulated online gambling markets in the U.S., Canada and Latin American countries are expected to generate US$56.3bn, drawing level with Europe or potentially surpassing it depending on currency fluctuations.

“Prior to 2018, the regulated online gambling market was highly euro-centric but legalization of sports betting and iGaming in various U.S. states as well as the major markets of Ontario and Brazil has coincided with stricter regulations in European countries that has restricted growth in a number of cases,” said  James Kilsby, Chief Analyst, Vixio.

Vixio will be showcasing its data forecasting and regulatory intelligence solutions in more detail at the SBC Summit Americas 2026 at stand B175, with additional information in its Latin America Online Outlook report, available at vixio.com/research/latin-america-outlook-2025.

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Vixio forecasts that regulated online GGR in North and Latin America will grow at a compound annual rate of 20.3 percent from US$22.3bn in 2023 to US$56.3bn by 2028, drawing level with regulated European market.

Providing further insight into one of the most closely watched online gambling markets globally, Kilsby, Vixio’s award-winning analyst, will be speaking during a panel session titled “Brazil 2025: A Surge in Licensing and Lessons So Far.” James was recently recognized as a Silver Stevie® Award Winner for Thought Leader of the Year in the 2025 American Business Awards®. The panel will take place on Wednesday, May 14, at 11 a.m. in conference room four.

In addition, Vixio has been shortlisted for Compliance Solution of the Year at the 2025 SBC Awards, which will be announced on the second day of the conference.

Visit us at stand B175 at SBC Summit Americas to learn more about how Vixio can help your business navigate the regulatory challenges of the gaming industry.

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For more information, or to book a meeting with a Vixio representative at SBC Americas, visit vixio.com.

 

The post Americas Online Gambling Market To Soon Eclipse Europe’s, Finds Vixio Forecasts appeared first on European Gaming Industry News.

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CasinoWebScripts Enables Direct Provider Connections and Eliminates the Need for Aggregators

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CasinoWebScripts, a leading provider of iGaming software solutions, is drawing attention to a powerful infrastructure model already in use by several clients — one that enables direct integration between online casino operators and game content providers. As the industry evolves, the company is now actively promoting this approach as a smarter alternative to traditional aggregation.

In the conventional model, aggregators act as intermediaries between content providers and casino platforms. While convenient, this structure often limits operators’ control over technical and commercial aspects, introduces latency and adds additional costs. CasinoWebScripts’ model removes the need for an aggregator by enabling operators to connect directly to game providers using a simplified and consistent integration method.

“Our goal is to simplify the way operators work with game studios, regardless of the type of casino they operate — whether it’s real-money, crypto, or social sweepstakes. By providing the tools and infrastructure for direct connections, we empower both sides to negotiate directly, optimize performance, and reduce third-party dependencies,” said Oscar Stevens, Head of Business Development at CasinoWebScripts.

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Key Features of the Model Include:

• Direct Integration: Operators connect with game providers through a unified framework, without using an aggregator.

• Faster Load Times and Lower Latency: The streamlined architecture improves game performance and platform responsiveness.

• Independent Commercial Agreements: Operators and providers manage their own contracts, pricing and terms with full autonomy.

• Easy Expansion: The system supports the quick addition of new providers, with minimal integration overhead.

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• Technology-Only Role: CasinoWebScripts supplies the infrastructure but does not interfere in commercial relationships.

This infrastructure shift reflects growing demand from operators looking for more autonomy in their business models. It also addresses concerns about transparency and technical bottlenecks that often arise with aggregator-based systems.

“Our platform is designed to serve those who want to scale fast and retain control over their operations. With this model, operators no longer have to compromise on performance or commercial independence,” added Stevens.

The post CasinoWebScripts Enables Direct Provider Connections and Eliminates the Need for Aggregators appeared first on European Gaming Industry News.

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Compliance Updates

Exclusive Commentary from Vixio On Their AML Outlook Findings

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Your recent AML Outlook report highlights over €36 million in fines issued across Europe in just one year. What recurring weaknesses or compliance gaps are regulators most commonly identifying in payments and e-money firms?

John Gidla (JG): Regulators continue to flag underinvestment in anti-financial crime controls as a key concern for payments and e-money firms. Common themes include weak governance, limited oversight, and fragmented controls, all of which increase vulnerability to financial crime. There’s a growing expectation that firms scale their compliance frameworks in line with their risk exposure and growth trajectory

 

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The report mentions that AML compliance can be costly—yet the reputational and financial risks of non-compliance are even greater. What are the most cost-effective measures firms can implement today to strengthen their AML frameworks without overwhelming their budgets?

JG: While not all firms can afford advanced compliance tools, strong governance remains one of the most cost-effective ways to reduce risk. Practical steps such as training staff on emerging threats, embedding a culture of accountability, and regularly updating frameworks as the business grows can go a long way in strengthening AML resilience without major spend.

 

With the creation of the EU’s new AMLA authority, do you expect a more consistent and centralized enforcement approach across Europe? How might this change how firms prepare for inspections and adapt their compliance strategies?

JG: AMLA has the potential to bring greater consistency to AML enforcement across the EU, addressing long-standing issues caused by fragmented supervision and uneven implementation by national authorities. Its impact will depend on how much direct oversight it gains, how assertively it acts on cross-border risks, and whether it can close the regulatory gaps that have permitted high-profile scandals. Firms should expect more rigorous and standardised inspections and will need to ensure their compliance programmes are not only locally robust, but scalable across jurisdictions.

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Vixio emphasizes the importance of a proactive rather than reactive compliance culture. In your view, what does a ‘proactive’ AML strategy look like in 2025, and what technologies or best practices are leading firms adopting to stay ahead?

JG: A truly proactive AML strategy in 2025 extends beyond technology to encompass a strong compliance culture at every level of the organisation. Leading firms understand that combating financial crime isn’t just the responsibility of the compliance team — it’s integrated into day-to-day operations, with senior leadership driving risk awareness across departments. In terms of technology, firms are increasingly adopting AI, machine learning, and automated monitoring systems to detect suspicious activity early and reduce human error. However, culture plays a critical role; firms that foster a compliance-first mindset and invest in ongoing staff training are better positioned to adapt to emerging threats and ensure that their compliance frameworks evolve in step with business growth and digital transformation. A proactive approach also means constantly reassessing risk and using data to predict and prevent issues, rather than just reacting to them. With regulations in constant flux, and regulators ramping up enforcement, proactive compliance looks like implementing strategies to anticipate regulations, not just react to them. In Vixio’s PC Outlook Report, we found that a clear majority of firms surveyed are using some form of outsourcing for their compliance functionality, turning to firms like Vixio to get ahead of regulatory change.

 

Thanks to John Gidla, Head of Payments Compliance at Vixio, for his insightful responses.

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The post Exclusive Commentary from Vixio On Their AML Outlook Findings appeared first on European Gaming Industry News.

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