Expansion in Live Casino Games by Evolution Gaming with Ambitious Strategies Ahead
Evolution Gaming Expands Globally Amidst Record Revenues
Evolution Gaming, a leading provider of live casino entertainment, is aggressively expanding its global footprint in response to the high demand for its live casino games. The company's ambitious plans for 2025 include over 110 new game releases, geographical expansion, and strategic partnerships.
The company's growth strategy is multifaceted. It includes launching new state-of-the-art live casino studios in the Philippines, Brazil, and North America. Evolution Gaming is set to enter the Rhode Island market via a partnership with Bally’s Corporation, giving them a presence in all seven U.S. states currently offering online casino gaming.
In Asia, Evolution Gaming is focusing on emerging markets and investing in countermeasures and cybercrime solutions to navigate regulatory challenges. The company has also seen significant growth in African markets.
The company's product pipeline is packed with innovative content, including live casino titles, online slots, and games based on exclusive Hasbro brands. Upcoming releases include Ice Fishing, a new live casino game.
Despite facing regulatory challenges in Europe and Asia, Evolution Gaming views these as long-term opportunities to build competitive advantages. The company is committed to investing in worldwide studio expansion and product innovation.
In the third quarter of 2023, Evolution Gaming achieved a new revenue record, with the live games segment driving the growth. The company reported a 24.3% increase in earnings from the live casino business to €358.8 million, while revenues from the slot business slightly declined.
However, several planned projects for 2023 have been delayed due to the slow pace of expansion of development studios. CEO Martin Carlesund expressed slight dissatisfaction with this pace, emphasizing the need for a systematic and methodical approach to strengthening the company's global presence and operational excellence.
Unfortunately, live games from Evolution Gaming are unlikely to be available on the German gambling market in the near future due to the legal situation. Despite this, the company generated the highest revenue share in Europe, generating €175.1 million in the third quarter of 2023.
With its aggressive expansion plans, innovative content pipeline, and focus on emerging markets, Evolution Gaming is poised to continue its dominance in the online casino entertainment industry. However, it remains uncertain if the company will continue its growth course in the future.
[1] Evolution Gaming Press Release, "Evolution Gaming announces its most ambitious product roadmap ever", link
[2] Evolution Gaming Press Release, "Evolution Gaming announces new live casino studio in Brazil", link
[3] Evolution Gaming Press Release, "Evolution Gaming enters Rhode Island market via strategic partnership with Bally’s Corporation", link
What will be the impact of Evolution Gaming's new live casino studios in the Philippines, Brazil, and North America on the company's finance and business strategy in the technology sector?
With Evolution Gaming achieving a new revenue record amidst its expansion and focusing on innovative content and emerging markets, what technological advancements can we expect from their live casino games and product releases in the future?
