The live casino segment of Evolutions continued to be a key force behind growth in the initial three months of 2022, propelling revenue to a staggering 38.6% increase, reaching €326.8 million.
Live dealer games continued their rapid ascent, expanding by 44.3% to €264.5 million. This is a remarkable accomplishment, as the Q1 figures alone surpassed the total recorded in the same period of 2020.
“We witnessed exceptional expansion in the first half of 2021, so we were facing challenging comparisons,” stated CEO Martin Olsson Carlsson. “The start of 2022 has been positive, and the thrill of live gaming continues to draw in both new and existing players.”
Income from random number generator (RNG) games experienced a more moderate growth rate, rising by 19.3% to €62.3 million. This increase was primarily attributed to the addition of Megaways creator Big Time Gaming. Without Big Time Gaming, RNG revenue would have only grown by a modest 1.8%. Carlsson described this as “consistent with our projections.”
“Customer contentment is always paramount, and it’s not a process that happens instantly,” Carlsson remarked, referencing the RNG division.
Were on a mission to achieve success, and while the course may not be perfectly smooth, our objectives are crystal clear. I’m positive we’ll reach our growth targets.
Our Nordic and UK regions performed admirably, generating €21.8 million and €32.9 million, respectively. This represents a 32.9% and 1.8% increase compared to the previous year. Europe remains our largest market, with revenue reaching €108.8 million, a 4.5% surge.
Asia is experiencing a surge in activity, with revenue soaring 94.4% to €103.4 million. North America also witnessed robust growth, climbing 70.4% to €36.8 million. The rest of the world saw a significant 79.6% increase, reaching €34.3 million.
We’re proud that 40% of our revenue still originates from regulated markets.
Our expenses also climbed, but at a slower rate, rising 27.0% to €119.7 million. The largest expense is personnel, which reached €63.5 million, a 30.1% increase. Depreciation, amortization, and impairment costs rose 22.1% to €22.6 million, while other operational expenses climbed 24.9% to €33.6 million.
All of this resulted in an operating profit of €207.1 million, a 46.2% increase.
We also generated a profit of €4.3 million on financial items, leading to a pre-tax profit of €211.4 million, a 50.2% rise.
After paying €13.7 million in taxes, our net profit was €197.7 million, a 49.8% increase.
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