written and last updated by
Sam Smith at
10 Feb 2021
Journalist, Editorial Department
One of the leaders in the online gambling sector and a global B2B provider, Evolution, has released its financial results for 2020. According to the company, this "eventful year" allowed the brand to achieve strong results and execute several "huge acquisitions," despite the challenges posed by the Covid-19 pandemic.
In the fourth quarter of last year, the company's operating revenue surged by 68% to €177.7 million, while profits for the period reached €80.6 million.
In 2020, the operator underwent a rebranding, changing its official name from Evolution Gaming to simply Evolution. A significant milestone for the developer was the acquisition of two major gaming companies—NetEnt and Red Tiger.
Looking at the annual figures, operating revenue increased by 53% to €561.1 million, and total profits for the year reached €284.6 million, with earnings per share rising by €1.55.
Martin Carlesund, CEO of Evolution, reflected on the year, stating, "We are ending an eventful 2020 on a high note. This marks a significant step forward for our progressive company. After acquiring NetEnt, we were able to add a second vertical to our unmatched live dealer casino offering. Following the acquisition of Red Tiger, our product portfolio has become one of the most respected in the industry."
He added, "This lays a solid foundation for our long-term ambitions. We aim to take a leading position in the global online casino segment. With our strong presence in live casinos and slots across North America, Asia, and Europe, we are becoming recognized in every corner of the world. We remain committed to creating the best gaming experience for every individual user. I am excited about what awaits us in 2021 as we continue to widen the gap from our competitors."
It is worth noting that residents of Kazakhstan have appealed to the president to shut down online casinos.
