Live casino specialist Evolution Gaming has published its annual report for 2018, revealing total operating revenues of $275.6m ($200m) in the financial year ending 31 December 2018. The positive revenue development, said the firm, mainly derives from increased commission income from both new and existing customers. Revenues from dedicated tables and environments also contributed to the increase as a result of additional customers launching or extending their customized live casino environments. Profit for the year amounted to $93.8m ($69.7m).
In the report Jens von Bahr, Founder and CEO, hailed a year that was characterized by high expansion pace, notably around the launches of no less than three new live gaming studios. “A milestone was reached already in January when we opened Evolution’s first overseas studio in Vancouver, Canada,” he stated.
“The Canadian gaming market is regulated and subdivided into provincial Crown corporation operators that operate non-competitively, allowing us to provide a scalable studio with generic tables that serve multiple provinces, in addition to dedicated tables for those operators who so desire. We are currently the only live casino provider that has established itself in the market. As of today, we provide our services to three provinces: British Columbia, Manitoba and Quebec.”
Von Bahr also talked about strengthening of the firm’s presence in North America with the opening of a studio in Atlantic City, New Jersey. “Market-entry in the USA has been a long-term project that was initiated several years ago, and we now assessed the time to move was right,” he noted.
“The response among the New Jersey licensed operators and their players has been positive throughout, and our offering in the market has outperformed our expectations. We expect more US states to allow online gaming in the upcoming years, and we are now well positioned to capitalize on the opportunities that will open up.”
The CEO also confirmed to investors that Evolution signed contracts with several New Jersey licensed operators during the period such as Ocean Resort Casino, Hard Rock Hotel & Casino Atlantic City, 888casino and PokerStars Casino New Jersey, in connection with the already mentioned studio launch.