Evolution AB (publ) (OTCPK:EVVTY, Nasdaq Stockholm: EVO) – Global Leading Online Casino System Developer | Company Profile
Evolution AB (publ) is a Stockholm, Sweden-headquartered online casino system development and licensing enterprise. Its core business includes developing, producing, and marketing live casino games, slot machines, and other products for global gaming operators, with a competitive edge in global market presence and industry leadership across Europe, Asia, North America, and Latin America.
1. Company Overview
Evolution AB (publ), formerly known as Evolution Gaming Group AB (publ), was founded in 2006 and is headquartered in Stockholm, Sweden, with approximately 15,381 full-time employees. The company specializes in developing, producing, marketing, and licensing online casino systems for gaming operators in Europe, Asia, North America, Latin America, and other global regions, serving as a leading global B2B live casino software provider.
Official Website: https://www.evolution.com/
2. Key Business Segments
- Live Casino Game Ecosystem
- Offers live versions of classic casino games such as roulette and blackjack, supporting multilingual and multi-currency operations to meet diverse global market needs.
- Innovative Live Game Shows
- Developed and launched highly interactive and well-produced game shows like Dream Catcher, Monopoly Live, and Crazy Time, integrating entertainment and gambling elements to enhance user experience.
- Slot Machines and Diversified Game Products
- Expanded its slot machine product line through in-house R&D and acquisitions (e.g., NetEnt, Red Tiger), covering traditional mechanical styles and modern thematic designs, compatible with PC and mobile platforms.
3. Technical and Business Advantages
- Global Presence and Market Penetration: Established studios in Canada, Georgia, the U.S. (New Jersey, Pennsylvania, etc.), Lithuania, and Malta to quickly respond to regional market demands.
- Strong R&D and Innovation Capabilities: Continuously introduces technologically advanced games (e.g., Speed Blackjack, XXXtreme Lightning Roulette), maintaining industry competitiveness through high production standards and creative features.
- Capital Operation and Acquisition Strategy: Rapidly expanded technical reserves and market share through acquisitions of Ezugi, NetEnt, Big Time Gaming, etc. Since its 2015 IPO, the stock price has increased approximately 58-fold, with a compound annual growth rate (CAGR) of 62%.
- Strong Financial Performance: In 2023, revenue reached €1.798 billion, operating income €1.142 billion, and net income €1.070 billion, demonstrating stable profitability.
4. Development History
| Year | Key Events |
|---|---|
| 2006 | Founded by Jens von Bahr and Fredrik Österberg, focusing on live casino game development. |
| 2013 | Riga studio launched the 100th live gambling table, becoming Europe's largest single-location casino operator; established a studio in Spain. |
| March 2015 | Listed on Nasdaq First North Premier in Stockholm; subsequently opened a studio in Belgium. |
| 2017 | Moved to Nasdaq Nordic listing, launched the classic game Dream Catcher; Martin Carlesund took over as CEO. |
| 2018 | Acquired Ezugi, entering the Eastern European market; established new facilities in Canada, Georgia, and New Jersey, U.S. |
| 2020 | Acquired NetEnt and Red Tiger, expanding slot machine business; launched Crazy Time, entering the Pennsylvania and Lithuania markets. |
| 2021 | Acquired Big Time Gaming, strengthening casual game portfolio; opened a third studio in Michigan, U.S. |
| 2022 | Acquired Nolimit City, launched Monopoly Big Baller; entered the Connecticut, West Virginia, and Ontario (Canada) markets. |
| 2023 | Launched the disco-themed live game Funky Time, deepening its entertainment strategy. |
| 2024 | Billionaire Kenneth Dart acquired a 5% stake; wholly owned subsidiary acquired Galaxy Gaming to expand into the North American market. |
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