Evolution Gaming is a prominent software developer in the online casino world. As such, the company continues to post exemplary financial results, even as the global gambling industry continues to struggle. So, what do the financial books at Evolution reveal this time around?
Once again, the company delivered phenomenal results in Q2 of the year. The duration saw the company's revenue skyrocket by 100% compared to Q2 of 2020. This time, Evolution posted €256.7 million in revenue compared to last year's €128.3 million.
Earnings before interest, tax depreciation, and amortization (EBITDA) also increased by an impressive 115% to post €174.7 million from €81.1 million.
As for the overall profit, the company raked in €144.4 million. This is more than double the €70.4 million posted in Q2 2020. The profit increase resulted in €1.30 earnings per share, increasing from €0.69 in Q2 2020.
Meanwhile, the company's strong showing in the second quarter of 2021 was masterminded by none other than its live casino verticals. So it's of little wonder that most of the best online casinos offer at least one of two live games from Evolution.
With that said, the worldwide demand for Evolution's live offerings increased by 59% compared to 2020's Q2. As always, Evolution continues to innovate its live casino verticals to offer a flawless end-user experience. For example, the company made a few improvements to its live baccarat variant in the quarter, which it hopes will revolutionize how players view this table game.
Now moving on to some not-so-good news, Evolution announced that its RNG business declined in Q2 compared to the same period last year. However, this was expected since the company is currently reshaping its RNG roadmap. But still, it's a slight increase from what the company posted in Q1 2021.
Evolution is always famous for its big buyouts, with notable examples being the successful acquisitions of NetEnt in the 2020 summer. The deal worth $2.2 billion saw NetEnt deregistering itself from the market altogether. And that's not to mention earlier buyouts for Red Tiger and Ezugi.
But Evolution isn't done just yet. In April this year, Evolution announced that it had struck a €450 million deal to purchase BTG (Big Time Gaming) – the inventor of the legendary Megaways mechanic. Evolution believes that this deal will boost its online slots offerings across multiple gambling sites. The sale will finalize in the second quarter of the year.
During the same quarter, the company also expanded its UK presence via a deal with Entain. The agreement will see Evolution's live casino games go live on Coral, Gala, and Ladbrokes platforms. Crossing over to the US, the company has up to three live casino studios, the latest being the Michigan studio.
In Q2 2021, Evolution displayed its innovative prowess by launching Gonzo's Treasure Hunt. It's a revamp of the all-time famous Gonzo Quest from NetEnt. The game utilizes smooth animations and incredible graphics to mix both slot machine style and live casino experience.
Another notable Q2 2021 launch from Evolution is Starburst XXXtreme, which just reached gamers when writing this post. Again, it's a remake of iconic NetEnt's flagship title – Starburst. Evolution believes that this boosted sequel will take player experience to another level.
In June 2020, Evolution released Crazy Time, which is streamed live from their Riga studio. This game runs on a money wheel with a simple concept of spin-to-win. The game went on to achieve extraordinary popularity among most live casino players.
Overall, Evolution isn't showing any signs of slowing down. And with the launch of innovative AI-driven games like Gonzo's Treasure Hunt and the acquisition of big names like BTG, the future couldn't be brighter.