Evolution shows strong growth in Q1 2025
International iGaming giant Evolution Gaming Group has indicated they are taking steps to resolve their lingering issues with the United Kingdom Gambling Commission.
The UKGC announced in December it was placing Evolution’s license to operate under review, following revelations offshore unlicensed operators were supplying their games to a British audience.
Despite being forced to withdraw from several unregulated European gambling markets, Evolution still had an increase of 3.9% to their net revenues, with this figure being EUR 520.9million.
In total their EBIDTA decreased by 1.1 to EUR 342.0 million, with this leaving them with a profit of EUR 254.7 million for the first quarter of 2025.
“On top of what we have already done in the UK to meet regulatory requirements, we have taken proactive and self-initiated actions in February to ring-fence additional regulated markets in Europe,” Evolution CEO Martin Carlesund said.
“The effects have varied, with the largest negative revenue impact in markets where channelisation is low.”
Carlesund said the impact of fluctuating global currencies and their efforts combat cyber crime in Asia had also played a role in their lowered financial expectations.
“The profitability for the first quarter is on the low side,” he said.
“We believe that the actions we are taking also will impact the second quarter, but that the second half of the year will be stronger.”
Evolution also pointed to their ever-expanding product list, which includes a new live studio in New Jersey, their third and a second in Romania, which are both regulated online casino markets.
The gambling giant has over 110 new releases planned for 2025 with many of these unveiled at ICE Barcelona, an industry event January. These include some popular new live games like Race Track and War and Marble Race and 17 new RNG games from the likes of No Limit City and Net Ent, which are just two of the eight well-known brands under their stewardship.
“Our Live Casino offering exhibited 4 percent growth year-on-year,” Carelsund said.
“Despite the effects from the ring-fencing and the cyber-attack countermeasures, the underlying potential in both Europe and Asia remains solid.
“North America continues to perform well, and in Latin America, our Colombian studio that opened in 2024 is developing very well with increasing demand from Spanish-speaking markets.
“We also believe activity in the region will increase supported by the new regulation in Brazil. It can be noted that we have seen a jump in the total share of net revenues from regulated markets which now stands at 45 percent. “
Evolution also touched on their plans to launch live casino studios in Brazil, Philippines and a second in US state of Michigan in the second half of 2025, declaring these were on track.
Evolution Gaming continues to operate in many black and grey gambling markets, including Australia and New Zealand (best NZ gambling sites).
