Evolution Gaming released their 2019 full year financial results yesterday. Once again, I found myself ruing the decision (or rather lack thereof) of buying shares in this juggernaut when they went public in 2015.
The headline numbers captured below speak for themselves.
A massive 49% year on year increase in operating revenue, to EUR 365 million. Operating profit up a staggering 79% to just under EUR 150 million.
Unsurprisingly their were plenty of highlights mentioned in the CEO’s comments accompany the results.
Game Shows and new games on the way
A large part of the growth was attributed to the raft of new games added early 2019, notably in the Game Show category. With 12 new titles showcased at lat week’s ICE, 2020 will continue the drive to expand game range and broaden the player base.
Increased studio capacity
New games grabbed a lot of attention during 2019 but in the background, capacity to serve core game tables (blackjack, roulette, baccarat) has expanded significantly. Investment in new studio capacity has seen a further 150 tables added since the end of 2018.
Evolution now operate a staggering 700 tables across their many studios. Expansion of existing studios and construction of new studios will continue through 2020.
The evolving US market gets a couple of paragraphs. Studio expansions (New Jersey) and new studios (Pennsylvania soon, Michigan maybe down the track) are on the cards there.
“Our presence in the United States was also strengthened in the quarter through agreements with new operators in Pennsylvania and the process to build a studio in Pennsylvania is ongoing.
We see good opportunities for continued positive development in the US. In the quarter we have made additional investments in the studio in New Jersey to expand its capacity, our game portfolio and to meet the demand. It is also positive to note that during the quarter Michigan has taken important steps toward becoming a regulated casino market.”
Mention was also made of the coupe to sign Flutter Group, joining a list of clients that has grown to over 200.