It's no secret that Malta is a hub for the gaming sector. Among the numerous companies that base their business in Malta, there is one that seems to trump all others when it comes to innovation and year-on-year growth. Evolution AB, a company that specializes in live casino games and that acquired rival NetEnt in 2020, taking over its Malta offices, is showing unprecedented growth in a 2021 financial report that has just been published.
In the fourth quarer of 2021 alone, operating revenues of Evolution increased by 69 per cent while EBITDA increased by staggering 115 per cent compared to the same period the year before. If we take a look at full-year numbers, it gets even better. Operating revenues have increased by 90 per cent while EBITDA increased by 121 per cent to €734 million.
Whopping 88 new game releases scheduled for 2022
Evolution doesn't plan on stopping there. In 2022, the year of innovation as the CEO Martin Carlesund says, Evolution will release an incredible number of 88 new games, and will continue to expand existing studios and build new ones. Among the new releases will be BacBo, a simplified version of Baccarat that's played with dice, and Peek Baccarat. To add to this, in the first half of 2022 Evolution will also launch slot games under the NetEnt and Red Tiger brands.
Evolution ended 2021 with over 1,000 live tables, which is an increase of over 300 tables for the year, and new ones are being built. The next big new studio to be launched will be Connecticut as Evolution establishes a foothold in the newly regulated USA market with its fourth studio there. Evolution will also strengthen the position in Canada.
Evolution is the first to enter newly regulated markets
Evolution doesn't seem to rest on laurels or shy away from entering a new market when the opportunity presents itself. As a matter of fact, Evolution seems to be the first to burst through the doors when they open. In Argentina, Evolution partnered with operator BetWarrior and launched the live casino games portfolio in the newly regulated Buenos Aires Province online gaming market - the first live casino provider to do so.
Perhaps more importantly, Evolution did the same in the Netherlands as soon as the country finally opened its regulated online gambling market. Evolution is now powering several licensed operators as they expect this market to achieve significant growth as it matures. Evolution was live on the market on the first day of the opening.
One Stop Shop (OSS) is the key to further expansion. OSS enables a truly global reach of Evolution's casino products, as all operators can reach all the content through one seamless backend and integration. This allows for an easier and faster rollout of new products.
All this is coming after stellar 2020 in which two key events were the launch of Crazy Time and acquisition of NetEnt, and 2019 in which Monopoly Live was crowned game of the year and Ezugi was acquired.
More job opportunities down the line
In the last 18 months, Evolution created 6,700 new job opportunities, which means the staff essentially grew more during that period than it did in the first 14 years of operation. This has been accomplished in the midst of the merger of NetEnt, Red Tiger, Big Time Gaming and DigiWheel into the Evolution Group.
In the coming years, Evolution expects to create 1,000 more job opportunities in the software engineering department alone. This can only mean even more jobs in Malta, for domestic and foreign workforce alike.
Live casino grows every year
Everyone involved in gaming is aware that live casino is the fastest-growing sector in the industry. The question to ask is if Evolution is riding the wave or is it creating it, and the answer is probably closer to the latter. In either case, land-based casinos still hold 78 per cent of the market, with RNG games taking 15 per cent and live casino seven per cent of the market. Live casino, however, is growing fastest, 31 per cent per year, compared to 15 per cent for RNG and -8 per cent for land-based casinos. It's clear - live casino games are moving up rapidly and the trend is evident for several years now, without signs of slowing down.
The full 117-page Evolution yearly report for 2021 is available here.
It seems Evolution could be the blueprint for every other gaming company out there, not only because its already renowned focus on innovation, but for its ability to find new opportunities in emerging markets and quickly partnering up with local brands to establish a presence immediately.
Disclaimer: Play responsibly. Players must be over 18. For help visit https://www.gamcare.org.uk/.