Evolution shows impressive growth in live casino business while RNG side of the company is on course. Full Q2 2023 Financials Report here! (Photo by Karolina Grabowska Pexels)
In the latest Evolution financial report, 84% of the iGaming developer’s revenues came from its live casino gaming vertical.
The Evolution live dealer brand is the most well-known across all goes, especially amongst experienced live casino players. Even if you are new to the scene, this is one of the stand-out software providers of the niche. Most newbies have begun their webcam table gaming and live game show real money casino experience. It is literally a brand in the hearts and minds of the industry, and one its competitors’ envy.
Therefore, it should come as no surprise to learn that the latest Q2 financial figures reported the lion’s share of the company’s earning game via its live casino operations. These earnings come via the Ezugi software provider and Evolution live dealer brands, which operate mostly in Europe and North America.
When considering Evolution also operates within the incredibly competitive virtual casino game RNG (random number generator) niche, 84% for live casino gaming alone is an impressive figure.
From the numbers provided, it is reasonable to assume the remaining 16% of the company’s revenue. This includes the online slot and virtual table game RNG brands NetEnt, Red Tiger, NoLimit and BTG. The latter owns the patent to Megaways slots and receives royalties from multiple software providers for the reel technology. First-Person games by Evolution are also RNG games.
Now why am I saying this? Because considering the multiple RNG brands and their reach into the virtual online casino entertainment niche, I am surprised the Evolution and Ezugi live dealer brands account for such a large percentage.
Overall Q2 2023 Results Across Live Casino & RNG Verticals
In Evolution’s overall financials, the Q2 results look great. There are several notable points of increase.
Here’s the YoY Comparison (Check the accompany table for Q1 Vs Q2 comparison)
- 2% increase in operating revenues to € 441.1 million
- 8% increase in EBITDA to € 311.7 million with a corresponding margin of 70.7%
- Q2 2023 total profit came in at € 264.1 million
- Shares earned € 1.24 during the 3-month period
H1 2023 Highlights: Some great highlights in financial terms. Also, Evolution published its H1 results (Jan to June 2023) showing € 515.2 million profit in 6 months and a € 2.41 per share increase.
Overall Q1 Vs Q2 2023
| Financial | Q2 2023 | Q1 2023 | Percentages (%) |
|---|---|---|---|
| Operating Revenues | € 441.1m | € 429,6m | +2.67% |
| EBITDA | € 311.7m | € 300.2m | +3.83% |
| Total Profit | € 264.1m | € 251,2m | +3.83% |
| Share Earnings | +€ 1.24 | +€1.18 | +5% |
Live Casino Q2 Results – YoY Growth and Overall Stability
In the live casino niche alone, Evolution and Ezugi took in € 371.8 million. This amounted to a rise of 33.5% versus Q2 2022. In the previous results, the figure was € 278.5, so that’s a rise of € 93.3 million Y0Y. Pretty amazing number right there.
Versus Q1 2023, the figures are also look solid in comparison. The total Q1 live casino niche revenue was € 360.1 million. Therefore, this Q2 2023’s € 371.8 million is up on the previous quarter by a steady € 11.66 million.
Live Casino Business in Good Health: There is no doubt that Evolution’s live casino niche is in good health, and with it dominance, huge live casino game’s portfolio, and with the current Evolution software provider roadmap, I really don’t see this changing.
Live Casino Q1 Vs Q2 2023
| Q2 2023 | Q1 2023 | Percentages (%) |
|---|---|---|
| € 371.8 | € 360.1 | +3.24% |
Live Casino Q2 2023 Vs Q2 2022
| Q2 2023 | Q2 2022 | Percentages (%) |
|---|---|---|
| € 371.8 | € 278.5 | 33.5% |
RNG Casino Q2 Results – YoY Growth and Overall Stability
The RNG side of the accounted for a total of € 69.3 million. The figure is down on Q1 2023’s numbers, but the gap is nothing to worry about as there was a mere € 200,000 drop from Q1’s € 69.5 million. That accounts for a -0.29% decline.
Looking back at Evolution’s Q2 revenue for RNG games, I can see a total of € 65.5 million. Therefore, there was a year-on-year increase of € 4 million. In terms of percentage, this is a +5.8% increase.
RNG Business in Good Health: Looking solely at the RNG revenue numbers comparing Q1 and Q2 2023, this side of the business is showing potential growth leading into Q4.
RNG Q1 Vs Q2 2023
| Q2 2023 | Q1 2023 | Percentages (%) |
|---|---|---|
| € 69.3m | € 69.5m | (-0.29%) |
RNG Q2 2023 Vs Q2 2022
| Q2 2023 | Q2 2022 | Percentages (%) |
|---|---|---|
| € 69.3m | € 65.5m | +5.8% |
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