Evolution 2022 Annual Report – Profits up 39.3% to €843.4 million!

The Evolution 2022 Annual Report is now out, and it makes for great reading for the iGaming giant! Evolution posts profits for the year of €843.4 million! (Image from @evo_global)

At this time of the year, we always get to see the results of the number crunching performed by iGaming companies to establish how well they have performed in the previous year.

This time, it is the turn of Nasdaq-listed Evolution to release its annual revenue, and the company is rightly delighted with the results.

When you see just how well the iGaming company has performed in 2022, that is fully understandable too. The year proved yet another record-breaker in terms of revenue growth.

Evolution posted profits of €843.4 million for 2022, a 39.3% increase on the €605.4 million posted in 2021. EBITDA also rose from €734.7 million in 2021 to €1,008.4 billion, an increase of 37.3%.

Aside from the figures, the 119-page Annual Report takes a look back at the key highlights for the company throughout 2022. That includes looking at the new products, services, and studios launched by Evolution and other company-owned brands such as NetEnt, Red Tiger Gaming, and Ezugi.

It also gives an overview of Evolution’s short, medium, and long-term strategies, an overview of the company as a whole, a word from the CEO, and more. It’s actually a great read if you have the time. I will provide a link to it at the end of this post.

It is never difficult to find online casinos featuring Evolution’s vast range of live casino games. In fact, most top online casinos will have them. To be the best you have to feature the best. However, if you are looking for one and need some help, you can use our Evolution live casino guide here.

Evolution’s 5-Year Summary – An Epic Example of the Company’s Growth

The last five years have proved an amazing journey for Evolution. You only have to compare revenues posted for 2022 against those posted in 2020 and 2018 to see how quickly and efficiently the company has grown. Evolution posted profits of 83 million in 2018, which, while good, is ten times less than posted in 2022. That is a monumental rise but also understandable when you consider the continued excellence the company has delivered in recent years. Check out the full table to get the figures for each of those years.

2022 Key Highlights for Evolution

As mentioned, the Annual Report provides several highlights Evolution believes played a major role in the company’s continued growth throughout 2022. There were four key highlights:

• The Launch of 88 New Casino Games: Across its brands, Evolution released 88 new online casino games throughout 2022. For Evolution itself, that included XXXtreme Lightning Roulette, Crazy Coin Flip, and most recently, Monopoly Big Baller. Noticeably, each of those titles was based on previous award-winning titles, Lightning Roulette, Crazy Time, and Monopoly Live, respectively. Of course, Red Tiger Gaming, NetEnt, Ezugi, Big Time Gaming, and later, NoLimit City all contributed to that total.
• A New Smart Lobby: Providing players with the ultimate user has always been a priority for Evolution, and the company made improvements in that area too. The company launched an AI-powered Smart Lobby, which gives players quicker and easier access to Evolution’s games, and personalised content, and improves the user experience.
• The Acquisition of NoLimit City: Evolution also added to its repertoire of iGaming companies with the acquisition of the prominent slots developer, NoLimit City. This brand fits the ethos of Evolution as NoLimit City has carved out a niche as a brand that likes to court controversy with its themes.
• New Studios, Markets, and More: Evolution focused on the North American iGaming markets throughout 2022. The company went live in Ontario and West Virginia. Additionally, Evolution opened new studios in New Jersey, Madrid, Connecticut, and Armenia.

The full 2023 Annual Report from Evolution is 119 pages long, so there is a lot to get through. However, if you’re interested in the financials, strategy, and evolution of major iGaming brands, it is well worth a look. You can find the full PDF here.