Evolution sees record profit in 2020

Evolution saw record growth in 2020 thanks to their acquisition of NetEnt. What are they doing right, and what's in store next?

Thanks to Evolution’s acquisition of NetEnt, the company reported a significant increase in year-to-year revenue. 

Before Evolution’s acquisition of them, NetEnt was Evolution’s largest competitor in the live casino industry. The acquisition did not happen without controversy as Evolution closed down the existing live casino tables at NetEnt and many of the company’s employees were declared redundant. 

However, the acquisition was a smart gamble on Evolution’s part. 

Total revenue for Evolution during 2020 came in at over €561 million. This was an increase of over 53% compared to the revenue the company pulled in 2019. 

Evolution and NetEnt now combined

Evolution chief executive Martin Carlesund stated, “Through the acquisition of NetEnt, we add a second vertical to our unrivaled live casino offer and two strong and fantastic new brands to our product portfolio. This makes us well placed for our long-term ambition of taking a leading global position in online casinos.” 

While Evolution has acquired all of NetEnt’s assets, NetEnt games are still under the original provider’s title at online casinos at this time. There has been no comment issued as to if the NetEnt title will eventually be dropped. 

Record profits also linked to COVID-19

It is no secret that online casinos and the iGaming industry have seen record profits as a whole since the current pandemic’s outbreak. 

Much of this is attributed to land-based casinos being shut down or operating at a limited capacity, forcing many regular players to continue their favorite pastime online. 

Carlesund added, “The pandemic has continued to be a factor throughout the year. Our organic growth was solid already in the beginning of 2020, and I’m pleased to see continued strong demand with many new players and high activity in the network throughout the year.”

New Jersey and Pennsylvania both have recorded record revenues in online gaming for 2020 and projections are expected to exceed those amounts for 2021. 

Michigan is looking to duplicate New Jersey’s success with projected numbers for 2021 to meet or exceed NJ’s 2020 haul (nearly $1 billion). 

Live casinos continue to grow in popularity

Evolution dominates the live casino industry and their company seeks to give players the ultimate casino experience from the convenience of their own homes. 

All games are played in real-time with a live human dealer that players can interact with. They are filmed in high definition from their professional studios. This goes for all live dealer games and their popular game shows such as Dream Catcher

As both online casinos in the US and live casino games continue to grow in popularity, it’ll be exciting to see what new ventures Evolution has to bring us this year. 


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