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(CIS) Evolution Gaming: Interim report January-March 2017

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Evolution Gaming: Interim report January-March 2017
2017-04-20 06:00:26.42 GMT

First quarter of 2017 (Q1 2016)

  · Operating revenues increased by 60% to EUR 39.7 million (24.8)
  · EBITDA increased by 65% to EUR 17.0 million (10.3), corresponding to a
margin of 43% (42)
  · Profit for the period amounted to EUR 12.7 million (7.6)
  · Earnings per share amounted to EUR 0.35 (0.21)

Events during the first quarter of 2017

  · Overall very high demand for Live Casino games among the customers
  · Agreement with the Spanish gaming operator Codere for exclusive provision 
of
Live Casino in Mexico
  · Additional new agreements with mybet, Matchbook and White Hat Gaming

Events following the balance sheet date

  · Entry into the Canadian market through an agreement with British Columbia
Lottery Corporation for provision of Live Casino services

CEO Martin Carlesund comments:

The strong momentum that we experienced towards the end of last year continued
into 2017, and January and February were particularly strong, with a very high
level of activity among our customers. Compared with the first quarter of 2016,
sales increased by 60 percent. EBITDA for the quarter amounted to EUR 17
million, corresponding to a margin of 43 percent, which is roughly in line with
the first quarter of 2016.

There tends to be favourable activity early in the year and 2017 has been no
exception. We have seen generally high player volumes among all types of
customers, both small and large well-established operators, while customers are
also increasingly optimising their Live Casino offerings. In line with this,
growth has, as in the past, derived primarily from existing customers, while new
customers initially focus on adjusting their offer to attract end users to start
playing Live Casino.

Many of our existing customers have launched new environments and expanded with
additional tables during the quarter. Furthermore, our poker products have been
launched with additional customers, with Three Card Poker and our exclusive live
version of Ultimate Texas Hold’em, in particular, gaining increased exposure 
to
end users.

We have also secured several new customers in the quarter, including myBet,
Matchbook, White Hat Gaming and Codere. For the latter, we will be the exclusive
provider of Live Casino in Mexico, one of Codere’s key markets. This will also
be Evolution’s first step into the Mexican gaming market.

On the product side, we continue to maintain a high pace. During the quarter, we
launched Speed Baccarat and Speed Roulette (faster versions of the originals)
and a progressive jackpot for Caribbean Stud Poker. We have also enhanced the
user experience in mobile mode by enabling gaming in portrait view for Baccarat
and Blackjack. Previously, our mobile products could only be played in landscape
view. As mentioned in the previous report, we have also initiated the launch of
our new game category Live Lucky Wheel, which could, in time, get a new target
audience to discover the thrill of live.

Following the end of the quarter, we have signed an agreement with Canadian
operator British Columbia Lottery Corporation, which will mark our first launch
in the North American market. As a result of the deal, we will later this year
build a new Live Casino studio in the Metro Vancouver area in Canada, our eighth
studio in total. It is an agreement of high strategic importance to Evolution
and the start of a potential expansion in North America. Canada is a regulated
market, where each province has its own gaming and lottery operations under
government management. The studio is initially being built for BCLC, but with
the intention of serving other provinces over time. The new studio will create
over 180 jobs and the gross winnings of BCLC are reinvested in various community
initiatives in British Columbia. I am convinced that Live Casino will be a
popular product, just as in Europe, and that the new studio will lay the
foundation for Evolution’s global leadership in live.

Looking ahead in 2017, we see continued strong demand for our products, even if
the second and third quarters tend to have less activity than the winter months.
Furthermore, we have no major sporting event driving traffic during the summer
this year. However, we view our continued growth confidently, with good
opportunities to further widen the gap to our competitors, through our strategy
with its clear focus on profitable growth. To support future expansion, we
intend to start the establishment of our third major studio in Europe during the
year, which like our production studios in Riga and Malta will be able to serve
multiple markets and customers.

Presentation to investors, analysts and media

CEO Martin Carlesund and CFO Jacob Kaplan will present the report and answer
questions on Thursday, 20 April 2017 at 10:30 a.m. CET by conference call. The
presentation will be held in English and can also be followed online. Number for
participation by phone: [phone]. Follow the presentation at
https://wonderland.videosync.fi/evolution-gaming-group-q1-report-2017.
For further information, please contact CFO Jacob Kaplan, [phone],
[e-mail].

This information is such that Evolution Gaming Group AB (publ) is obliged to
make public pursuant to the EU Market Abuse Regulation. The information was
submitted for publication, through the agency of the contact person set out
above, on 20 April 2017, at 8.00 am CET.
Evolution Gaming Group AB (publ) (”Evolution”) develops, produces, markets 
and
licenses fully-integrated B2B Live Casino solutions to gaming operators. Since
its inception in 2006, Evolution has developed into a leading B2B provider in
the European market with 100+ operators among its customers. The group currently
has about 3,800 employees, most of whom are located in Latvia and Malta. The
parent company is based in Sweden and listed on the Nasdaq First North Premier
exchange under the ticker EVO. Avanza Bank is the company’s certified adviser.
Visit www.evolutiongaming.com for more information.

This information was brought to you by Cision https://news.cision.com
The following files are available for download:
https://mb.cision.com/Main/12069/2242903/659884.pdf Evolution Gaming interim 
report January-March 2017

-0- Apr/20/2017 06:00 GMT