Swedish iGaming innovator Evolution Gaming Group AB released its second quarter financial results showing its operating revenue doubled year-over-year to almost € 256.7 million (€ 302 million). $ 1 million).
The Stockholm-listed company used an official press release to explain that this striking increase led its profit before interest, taxes, depreciation and amortization for the three months to the end of June to rise 115% year-on-year to around 174.7 €. million ($ 205.6 million) on a corresponding margin that improved 4.8% to 68%. The company further revealed that all of this boosted its quarterly profit by 105% to just over 144.4 million euros ($ 169.9 million) and helped its earnings per share rise by 75%. to € 0.68 ($ 0.80).
Evolution Gaming Group AB offers iGaming operators around the world a huge selection of online casino games and recently signed an agreement which is expected to acquire a smaller Australian rival Big Time Gaming Proprietary Limited for around 455 million euros ($ 536 million). The UK-licensed developer additionally provides a wide range of live titles and has finalized a 1.8 billion euros (2.1 billion dollars) at the end of last year to acquire industry pioneer NetEnt AB.
Six month success:
Also responsible for innovative mobile gaming specialist Ezugi, Evolution Gaming Group AB impressively explained that its operating revenue for the first six months of 2021 increased 102% year-over-year to exceed 492.5 million euros ($ 579.6 million) since its associated profit before interest, taxes, depreciation and amortization increased by 130% for 334.8 million euros ($ 393.9 million). She revealed that all of this had pushed her half-year profit up 122% to slightly beyond 276.4 million euros (325.1 million dollars) while its earnings per share rose 88% to € 1.30 ($ 1.52).
As for the reasons for this success and the leader Evolution Gaming Group AB Managing Director Jens Von Bahr used the press release to state that his company had seen a 59% year-over-year increase in demand for its live dealer games alongside ‘very strong growth in turnover and good momentum‘. The boss further said his company is likely to continue this success through its policy of ‘constantly reload its product range‘as well as the recent approval which will see the creation of a new live streaming studio for iGaming fans in the US state of Michigan.
Read a statement from Von Bahr…
“It’s a very active time for the company at the moment. I look forward to the second semester and to continue to widen the gap with our competitors. We remain paranoid as always and know that only by working hard to improve our offering step by step, day by day, every day, can we achieve our goals.