June 17, 2022

Evolution Gaming Strong 2021 Financial Results

Aria Mitchell
Written byAria MitchellWriter
Researched bySamuel AdeoyeResearcher

2021 was a successful year for Evolution Gaming, by all indications. The year saw the company enter regulated markets like Argentina and South Africa. Also, the content aggregator released top-ranking live variants like Lightning Blackjack, Cash or Crash, and Gonzo’s Treasure Hunt.

Evolution Gaming Strong 2021 Financial Results

But it’s the solid financial showing that’s certain to impress critics and insiders. According to the company’s year-end report for January to December 2021, Q4 saw revenues increase by 69%. EBITDA (earnings before interests, taxes, depreciation, and amortization) also increased by 68.9%. 

Strong Live Casino Global Demand

According to Evolution, its top-line growth in 2021 was driven by the increased global demand for live casino games. The report says that the company’s live casino revenue increased by an impressive 48.6%. That’s an impressive jump from the pre-pandemic growth rate last year. 

That said, Q4 2021 saw Evolution’s gross revenue increase to €300 million, marking a 69% jump compared to Q4 2020. Moreover, the figure was even higher at 90% compared to January to December revenues in 2020. 

EBITDA-wise, the company recorded €207 million, a 68.9% jump. This is almost the same as the 68.7% full-year margin. The company expects to continue this strong bull run in 2022 after investing heavily in building new studios, expanding new ones, and adding top-draw in-game innovations. Evolution envisages 69% to 71%. 

But the success story isn’t only contributed by the company’s live casino business. Its RNG games also showed a strong performance in the market, with brands like NetEnt and Red Tiger dominating the scene. However, Evolution hopes to post even stronger growth than this year’s 9% increase. That might vary through the quarters, though.

Product Innovation to Continue in 2022

As said at the beginning, Evolution managed to stay at the top in 2021 with some notable live casino releases. Mid-last year, the company released Gonzo’s Quest Treasure Hunt, the first live game show to use VR (Virtual Reality) technology

Then, in September, Evolution debuted the unique and high-flying Cash or Crash live game show. In this immersive game, players enjoy a super-high RTP of 99.6% and the possibility to scoop the 50,000x jackpot. Evolution says it’s one of the most generous and player-friendly games ever. That’s true!

Fast forward to November, the company released Lightning Blackjack, another addition to its Lightning series. Like Lightning Roulette, this blackjack game maintains the basics of classic blackjack but with added multipliers. Actually, you can multiply winnings by 2x to 25x.

Skipping down to 2022, Evolution plans to release a whopping 88 games, with some already in the market. For example, Bac Bo, a simplified baccarat live version, is already a fan favorite at the best Evolution casinos. Others include Red Tiger’s Narcos Mexico and NetEnt’s Knight Rider. Peek Baccarat is also in the pipeline. All in all, this is the year to camp at Evolution.

Dramatic Expansion to Other Markets

Evolution closes 2021 with more than 1,000 live tables, which is an increase of over 300 from last year. Of course, this remarkable growth wouldn’t be possible if the company wasn’t venturing into new regulated markets across the globe. 

In North America, for example, Evolution continues to grow by entering regulated states and expanding its studio collection. In 2022, the company plans to launch in Connecticut. 

Last year also saw Evolution enter the newly regulated Argentina market after inking a deal with BetWarrior. The deal saw Evolution offer its game portfolio in Buenos Aires Province. 

The European market, where Evolution is dominant, has also been good, with countries like the Netherlands and Ukraine opening up their newly regulated markets. However, the European market has lower growth numbers, thanks to regulatory changes across the board.

In conclusion, 2022 is already shaping up nicely for Evolution. With tens of games lined up for players, the company will dominate yet another year. For more Evolution Gaming news, updates, and game reviews, keep it here!

About the author
Aria Mitchell
Aria Mitchell

From Rotorua's scenic landscapes, Aria Mitchell shines as New Zealand's leading expert in localizing online casino content. Marrying Kiwi essence with global gaming insights, she's the name trusted nationwide.

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