The annual report for the year 2018 has been issued by live casino gambling giant Evolution gambling. The report reveals that the company’s overall operational revenues for the year ending on December 31, 2018 were $275.6 million. According to the company, the considerable growth in revenue may mostly be attributable to an increased commission income from both existing and new clients. This holds true for both groups of consumers.
According to reports, revenues from Evolution’s customized gaming settings and tables also contributed to the uptick in profitability as a result of additional clients opening or expanding their own tailored live casino experiences. This was one of the factors that led to Evolution’s overall growth in earnings. An astounding figure of $93.8 million was brought in by the operator in terms of profits for the year.
Increases in Both Operating Profits and Revenues
Jens von Bahr, the company’s founder and current CEO, remarked in the most recent financial report that the previous year was marked by a rapid expansion pace, notably in relation to the debuts of three brand new live dealer studios. According to him, Evolution had already accomplished a significant goal in January, when the company showed the world its first studio located outside of the United States in Vancouver, Canada.
According to von Bahr, the gaming industry in Canada is controlled and segmented into province-based Crown corporation operators. These operators sell their services to customers, but they do not compete with one another. According to him, this allowed his company to construct a scalable studio with generic tables that serve numerous local provinces in addition to specific tables for operators who wished them. He says this was possible because of the fact that his company is based in Canada.
At the moment, the only live casino software provider that is well-established in the Canadian industry is Evolution. The chief executive officer of the corporation disclosed that his organization provides its services to a total of three jurisdictions, including British Columbia, Manitoba, and Quebec.
Positioned to Seize the Opportunity
Recent comments made by Von Bahr included an announcement that his organization will be expanding its footprint in North America with the opening of a studio in Atlantic City, New Jersey. According to him, Evolution’s entry into the United States market has been a long-term project that began some years ago. However, the company did not determine that the time to act was appropriate until just recently.
According to Evolution’s Chief Executive Officer, the response from local players and New Jersey-licensed operators has been very positive, which has led to Evolution’s market offerings exceeding the CEO’s expectations. The company currently anticipates that additional states in the United States will pass legislation to legalize iGaming in the future years, and it is well positioned to capitalize on the opportunities that will be made available as a result of this trend.
Finally, von Bahr stated to the investors of his company that Evolution has signed contracts with a number of New Jersey-licensed operators in connection with the newly opened studio during the year 2018. The Hard Rock Hotel & Casino Atlantic City, the Ocean Resort Casino, 888casino, and the PokerStars Casino New Jersey are some of these establishments.