Evolution Gaming Reports Record Live Casino Revenue in Q3

Evolution Gaming released a record number of games in Q3, but the surge in demand for their content has posed challenges in maintaining the pace. In response to this, Carlesund has committed to opening new studios and expanding their workforce across Europe, North America, and Latin America. He stated, "We see a higher demand for our product than what we currently can deliver. That is a measure of the phenomenal traction our games have."

In contrast to the growth in live casino revenue, the revenue for random number generator (RNG) games experienced a slight decline of 1.9% to €66.8 million in Q3. However, Carlesund remains optimistic about the company's RNG business, emphasizing that Evolution is making steady progress in this sector.

Looking at Evolution's overall performance in Q3, the group's operating revenue continued to soar to new heights, driven primarily by live casino operations. Carlesund anticipates this growth will extend into Q4 and beyond, with plans to release more games supported by the opening of additional studios and hiring more staff.

Europe remains the core market for Evolution, contributing €175.1 million in total revenue in Q3, marking a 10.0% year-on-year increase. However, Asia is closing the gap and may overtake Europe in Q4, as revenue from Asia in Q3 reached €172.1 million, a substantial rise of 34.7% from the previous year.

Despite the increase in operating expenses, Evolution's net profit in Q3 rose by 23.3% to reach €272.8 million. The company's year-to-date revenue exceeded €1.32 billion, reflecting a robust growth rate of 26.1% compared to the previous year.