After last month receiving a listing on the main market of the Nasdaq Stockholm exchange, live online gaming solutions provider Evolution Gaming Group has released its financial results for the six months to the end of June showing a 58% rise year-on-year in operating revenues to just over $95.5 million.
Established in 2006, Stockholm-based Evolution Gaming Group’s innovations utilize the Internet in order to allow players to enjoy real-time games of blackjack, roulette and baccarat, as well as numerous versions of poker from the comfort of their own homes. The firm revealed that earnings before interest, tax, depreciation and amortization for the six-month period increased by 74% year-on-year to $42.3 million off of a margin that grew by four percentage points to 44%.
All of this left the innovator with a first-half profit of $31.9 million, which was over 79% higher than the $17.8 million it declared for the same period in 2016, while earnings per share swelled by in excess of 81% year-on-year to hit approximately $0.88.
For the second quarter, which ran from April 1 to June 30, Evolution Gaming Group stated that operating revenues improved by 56% year-on-year to reach almost $49.3 million while a 6% boost in margins helped earnings before interest, tax, depreciation and amortization advanced by 81% to just over $22.3 million and pushed profits up by 92% to in excess of $17 million.
“I am very pleased to be able to sum up an eventful quarter with positive developments in several areas,” read a statement from Martin Carlesund, Chief Executive Officer for Evolution Gaming Group. “The favorable momentum of the past quarters continued into this period with strong and steady growth for all products. It can be noted that gaming revenues generated on our platform using mobile devices exceeded 50% for the first time in this quarter. We view the remainder of the year with confidence and excitement.”
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