Impressive Results From Evolution Gaming

Significant board changes announced

Evolution Gaming Group AB delivered in its third quarter 2016 results reporting strong growth in revenue and a significant increase in mobile penetration. The company attributes is success to strong general growth and continued high demand for dedicated environments.
Key performance indicators for the three month period ending September 30, 2016 include:
– Revenue increase of 47 percent to Euro 29.2 million (Q3/2015: Euro 19.8 million)
– Profit of Euro 7.4 million (Q3/2015: Euro 5.8 million)
– Earnings per share of Euro 0.21 (Q3/2015: Euro 0.16)
– EBITDA increased by 37 percent to Euro 10.8 million (Q3/2015: Euro 7.8 million), corresponding to a margin of 37 percent (Q3/2015: 40 percent)
– Mobile penetration amounted to 43 percent (Q3/2015: 28 percent)
"Live Casino continues to gain ground both in terms of strategic significance for operators and popularity with end-users, and we were therefore able to record yet another quarter of strong growth," Jens von Bahr, chief executive officer of Evolution said.
On the back of the results and as a consequence of the company's impressive growth, the Board has made significant changes which will come into effect November 1, 2016.
Key changes include the resignation of Joel Citron as Chairman, he will however remain a member of the company board.
Chief executive officer and board member Jens von Bahr has been elected Chairman by the board until the next general meeting.
Martin Carlesund will assume the role of chief executive officer of the group and Johan Nordström has been employed as chief executive officer of the operational entity.
"My role will be focused on guidance, general oversight and governance issues. I look forward to working with Jens, Martin and the board as we continue to build this outstanding company," Citron said.
"Ever since the IPO, Martin and I have collectively focused on creating an organisation which can take Evolution to the next level. We now have that in place, and Martin is the right person to lead it; which he has proven during his time as CEO of the operational entity," Jens von Bahr added.
"In the role of Executive Chairman, I will be able to focus fully on the development of our ongoing, successful growth strategy. Among other things, I see the need to increase the time we look at potential acquisitions and strategic partnerships going forward".

Online Casino News Courtesy of Infopowa

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