Evolution’s Financial Report Revealed Its Operating Revenues Increased by 36% in Q4 in 2022

Feb 21, 2023 Artyom Ustinov
Evolution’s CEO, Martin Carlesund, expressed his satisfaction as the company completed another successful financial year. He added that they had a strong last quarter despite the challenging market environment, including the inflation, the recovery of the post-pandemic world economy, and the war in Ukraine.
As one of the industry's most successful casino business solutions, Evolution has shared its financial report, revealing the numbers for the fourth quarter of 2022. According to the report, the company increased operating revenues by 36% to $437.8 million. Its profit for the same period amounted to $240.6 million, while EBITDA increased by 35% to $300.9 million, corresponding to a margin of 69.2%. The company was also delighted with its performance in the previous year. Operating revenues increased by 36% to $1.6 billion, while the profit for the entire 2022 reached $908.3 million.
Carlesund added that there had been a high demand for their Live casino products, whose revenue increased by 41.1% compared to last year. Plus, players were overly interested in games such as Monopoly Big Baller in 2022. RNG revenues were not the developer's forte, as they only increased by 5.1% compared to the previous year. Since their performance is still below the company’s expectations, they know the quality and efficiency must be improved as the company moves forward. Aside from that, the developer is content to have delivered 88 releases in 2022. Those include live games such as Football Studio Dice and Dead or Alive Saloon, and RNG games from their subsidiaries (Dead Canary from Nolimit City, Cupcakes from NetEnt, Shadow Society from Red Tiger, and Christmas Bonanza from BTG). And they don’t plan to stop here — Evolution disclosed its plan to launch over 100 games in 2023. Carlesund also pointed out the company invested immensely in studio expansion over the last quarter. They continued the regional development and opened a second New Jersey Live casino studio, which has been a critical point of their North American expansion. The developer also increased the number of live tables by 300, so at the end of 2022, there were a total of 1,300 tables in Evolution’s live studios worldwide. The CEO concluded that in 2023, the company would continue to expand and release new products while remaining loyal to its core principles.

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Artyom Ustinov

Artyom is Head of White Label & Turnkey Solutions and has been working in complex B2B/B2C sales, as well as business development and management consulting in iGaming for more than 18 years.

Together with the Key Account Management Team, he has helped over 100 start-ups and experienced gaming companies to launch their projects with SoftGamings.

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