Live dealer gaming provider and burgeoning industry giant Evolution Gaming has released its interim report for the third quarter (January-September 2021) showing consistent and phenomenal growth in its live gaming product line.
Year-over-year third quarter growth saw operating revenues increase by 97% to 276 million euros and EBITDA up 113% for a 3-month profit of 157.4 million euros compared to 79.4 euros in the third quarter of last year.
Significant events over the past three months include continued high demand for live game content, propelling the company to generate more 53% growth rate from year to year; an almost 8% increase in revenue from random number generator (RNG) games; and continued expansion into the US market with the opening of a live distribution studio in Michigan.
Live play is growing faster than RNG
The Swedish companyThe growth of live casinos has surpassed pre-pandemic levels, indicating that many new players are discovering real-time streaming casino games. However, RNG numbers also represent strong growth, if not so high as CEO Martin Carlesund would like to see in some segments.
The NetEnt and Red Tiger brands posted growth of around 3% while Large-scale game (BTG) increased the overall number of RNGs by delivering more than ten times that in isolated figures over the quarter. Red Tiger and NetEnt both use BTGs Megaways mechanic in some of their games with titles like Gonzo’s Quest Megaways merging something from each RNG brand into the title. Gonzo is originally a NetEnt game, but the Megaways version was released by Red Tiger after incorporating BTG mechanics.
Evolution CEO Martin Carlesund spoke of the company’s continued expansion into the US and Canadian regulated markets when he said: “The North American online casino market continues to grow rapidly in the United States and Canada. In Michigan, where we introduced our NetEnt gaming portfolio earlier this year, we launched our live casino early in the quarter..
“The studio is off to a very good start and this premier offering is another catalyst for growth in the US market. After the period ended, we were the first to market with our slots games in Connecticut. We expect live games to follow soon, Connecticut will be the 4th studio we operate in the United States. Also after the period ended, we launched our Live and RNG games with the Ontario Lottery and Gaming Corporation, this will be the 4th province in Canada to go live from our Canadian studio.. “
New studios, new NetEnt platform
In addition to the new studios being developed in Madrid and Yerevan, Carlesund noted the acquisition in the last quarter of game maker DigiWheel in an all-cash deal.
“DigiWheel’s technology is exciting, innovative and unique and will be incorporated into our live casino games and game shows. The ambition is to launch new games in 2022 using this technology. “
Speaking about the reality of the fewer new releases of NetEnt games in 2021, he said the company was in the process of “reshaping” its RNG business and had completely rebuilt the NetEnt technical platform. They are currently in the process of deploying new integration technology for casinos with One Stop Shop (OSS) that will allow operators to access all Evolution content with a single integration.
New live dealer games in the third quarter included Cash or Crash and a unique version of Fan Tan, particularly appealing to Asian customers.
Evolution today published its interim report for January-September 2021, Evolution Gaming, October 28, 2021