"Slot growth will require time," stated the CEO of Evolution.

Evolution, the live dealer giant, reported a strong year-on-year increase in revenue and net profit for the second quarter. Live dealer revenue experienced substantial growth, while the contribution from the slots portfolio declined on a pro forma basis. The company achieved a record EBITDA margin, but the CEO, Carlesund, emphasized the need for further operational improvements, particularly in the RNG segment.

In Q2, operating revenue reached €441.1m, with live casino revenue amounting to €371.8m, a 33.5% increase. Revenue from the RNG segment rose more modestly to €69.3m, up by 5.8%. Evolution identified Europe as its key market for operations, generating the highest share of revenue, followed by Asia and North America. However, the company noted that 40% of its revenue now comes from regulated markets, a decrease from the previous year.

While Evolution experienced increased operating expenses, it managed costs sensibly and achieved strong financial performance. The company is focused on new game launches and enhancing the player experience to deliver growth and stay competitive. With a robust financial position and continued investments in people and innovation, Evolution is optimistic about the second half of 2023.

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