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Operating Revenue of Evolution Gaming Increased by more than 50% in 2017

Operating Revenue of Evolution Gaming Increased by more than 50% in 2017

The previous month, receiving a listing on the main market of the Nasdaq Stockholm exchange, the provider of online gaming solutions, Evolution Gaming Group published financial results about the six months until the end of June, which reveal an increase of 58% over the same period last year. The company’s revenues amounted to over 95.5 million US dollars.

Operating Revenue of Evolution Gaming Increased

Founded in 2006, the Stockholm-based company Evolution Gaming Group allows customers to enjoy such games as blackjack, roulette and baccarat alongside with a range of versions of poker in real time without leaving their home with the help of the Internet. The company reported that the profit before the paying of interests, taxes and depreciation for the six-month period increased by 74% compared to the same period of the last year and amounted to $ 42.3 million, taking into account the margin, which increased by four percentage points to 44%.

All this allowed the innovator of the industry to make a profit of $ 31.9 million in the first half of the year, which is 79% higher than 17.8 million for the same period in 2016, while earnings per share increased by more than 81% reaching $ 0.88.

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In the second quarter, which took place from April 1st to June 30th, Evolution Gaming Group said that operating income improved by 56% compared to the same period of the last year and reached almost $ 49.3 million, and a 6% increase in margin before payment interests, taxes, depreciation increased by 81% to over 22.3 million US dollars.

Chief Executive Officer at Evolution Gaming Martin Carlesund made a statement, “I am very pleased to have the opportunity to sum up the rich quarter with positive messages in several areas at once. The favorable momentum of the past quarters continued during this period with strong and sustained growth for all products. It can be noted that the revenues from games received on our platform using mobile devices exceeded 50% for the first time this quarter. We look at the rest of the year with confidence and excitement.”

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