Evolution to achieve strong performance in 2021 thanks to acquisitions of NetEnt and Red Tiger

Evolution Gaming reported 105% revenue increase in Q1 2021 due to acquisition NetEnt and Red tiger gaming as well as expansion into global markets and continued high demand.

The group's total revenue rose to € 235.8 million during the first quarter, while the takeover of NetEnt resulted in the complete closure of the firm's synergy project nine months earlier than expected, reaching 60 million in annual operating cost synergy.

In addition, the group reported an increase in EBITDA of 67.9% to € 160 million, while profit for the period also increased by 160% for Q1 2020 to € 132 million, and earnings per share before dilution were € 0 62.

Moving forward, operator ai ms on acquisition NetEnt and Red Tiger with absorption Big time gaming , announced at the end of the quarter.

The new acquisition will accelerate Evolution's long-term ambition to “become the global leader in all online casino disciplines,” including Big Time Gaming IPs and “fantastic innovative flair” into its overall portfolio of slot machine brands. ...

Detailing the arrangement, Martin Karlesund , CEO of Evolution, said: “The deal is expected to close in the second quarter. I look forward to welcoming the Big Time Gaming team to Evolution and working together on innovative new games. "

Other plans include integrating new games from both NetEnt and Red Tiger as part of an overall "retooling" of Evolution slot machines, as well as updates to traditional tabletop games in real time and an expansion of the Live Game Show Segment.

Overall, the evolution has seen a “big momentum” for 2020, and the operator believes that “strong underlying demand” for online casino offerings in Q1 2021 will continue to fuel growth, recording 60% annual growth in Q1 for its live casino division, the most the high growth rate that the company experienced in one quarter.

However, despite the success of NetEnt's takeover, which saw Evolution's RNG business start the year growing 6% versus ed for NetEnt in Q1 2020 - Karlesund predicted “slightly tougher comparable figures” regarding the impact of COVID-19 pandemic of NetEnt operations Q2 2020.

Continuing its focus on the pandemic, Evolution detailed that Q1 2021 simply was and remains a difficult period "with several studios operating with disabilities to ensure the safety and protection of staff.

These In addition, production capacity constraints on Evolution have been offset by significant growth reported across all regions, especially strong growth in Asia and North America.

Evolution is a truly global operation serving players from all over the world, ”added Karlesund.

“Our business organization is currently structured in four regions: Europe, Asia, North America and Latin America and Africa. ... With dedicated commercial resources for each region, we look forward to further development opportunities for each region together with operators. "

This increased demand has prompted Evolution to commit to further investments in its studio development as well as expanding production capacity, already done in North America and other regions during the first quarter of 2021.