Evolution Gaming: Live casino business is booming

Swedish games developer Evolution Gaming released its third quarter results almost two weeks ago. The popular software provider reported record results. Especially the live casino business has boomed in the last three months. Evolution Gaming now generates over 80% of its revenue from its live casino business. But what does the future hold for the German gaming market?

Back in the summer of 2021, we told you that Evolution Gaming was on the fast track. More than two years later, the Swedish software developer is still very popular with international players. At least, that's what the impressive turnover in the third quarter of 2023 suggests.

Live Casino revenue up by almost a quarter in a single quarter

In the third quarter, Evolution Gaming's live casino revenue totalled €358.8 million. This represents an increase of 24.3% compared to the previous quarter.

Evolution Gaming is increasingly becoming a specialist in live gaming. In fact, the live casino business already accounts for 80% of the company's total revenue - and the trend is rising. The classic slot machine business is becoming less and less important for the Swedes.

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Evolution Gaming regularly publishes new live games

We at GambleJoe have reported on new game releases several times in the past. For example, in June 2022 we reported that Evolution Gaming had released XXXtreme Lightning Roulette.

Another article in February 2022 reported on the Swedish supplier's launch of the new live game "Bac Bo".

Europe remains most important market - despite legal situation in Germany

In fact, the Sweden-based operator still generates its highest revenues in Europe. This is despite the fact that the German online gaming market has become almost insignificant for the company. This is mainly due to the legal requirements that will come into force in Germany in the summer of 2021. There are currently no German licences for live games such as roulette, baccarat or blackjack, only for virtual slots, poker and sports betting.

What are the prospects for the future?

Evolution Gaming is currently planning to invest in new development studios, including in North and Latin America. In addition, the company's revenues in the Asian market are also expected to grow strongly. As a result, Evolution Gaming should continue to grow in the current quarter.

The fact that the German authorities have not yet granted a licence for live casino games should not be a major issue for an international pioneer such as Evolution Gaming.

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