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The final quarter of Evolution’s public financial reports are now on the table, and they are impressive! After the 4th quarter figures came in, it prevails that Evolution 12-month profits hit €284.6 million in 2020. submitted by georgheinrich1 to u/georgheinrich1 [link] [comments] https://preview.redd.it/48qmgskiz7h61.jpg?width=800&format=pjpg&auto=webp&s=599ed12ee92cd62c9472a0eddd1b2e17514a54f0 It was a strong year for a brand that made a €1.6 billion acquisition of NetEnt, which brought 2 brands (NetEnt + Red Tiger) over to the Evolution camp. Although that acquisition is almost 6 times the profit reported, the purchase counts as an add-on asset, hence we do not see a huge billion-dollar deficit—just in case you were wondering. In fact, not only is the acquisition an asset worth €1.6 billion, but it is also 2 profitable brands adding to Evolution’s revenue! Adding to this, Evolution shows tremendous resilience. It still turned over a quarter of a billion Euro profit despite German iGaming markets coming offline as online casinos in the country prepare themselves to separate live dealer gaming from video slots, COVID-19 closing many of Evolution’s Dual Play tables, and the expense of opening a new US-based Pennsylvania studio, yet, this investment was a solid one as the state continues with record-breaking iGaming profits! Also, over in New Jersey where Evolution has both Ezugi and Evolution studios, Evolution live games are available in most online casinos. The Garden state’s iGaming market is the most valuable in the USA, which became clear after the NJ gambling commission recently announced that New Jersey online casinos alone recorded US$932 million revenue (€769 million) in 12 months! |
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