Exclusive Launch in Ontario
Evolution Gaming has announced its “biggest launch ever” with the debut of Lightning Storm, exclusively released with BetMGM in Ontario. CEO Martin Carlesund praised the game as “some of our best work yet,” highlighting its unique setting in a dark, mad scientist’s laboratory-themed studio. Lightning Storm features a spinning money wheel with 39 segments offering various prizes and bonus features, bringing an innovative twist to live casino game shows.
Oliver Bartlett, Vice President of Gaming Product & Content at BetMGM, expressed excitement about the launch: “Live dealer is a key focus of our igaming business at BetMGM. Lightning Storm combines the social aspect of live dealers, the excitement of a game show, and the popularity of Lightning games to create a fantastic experience for our players. Evolution’s reputation in the live dealer vertical is unmatched, and we are honored to exclusively debut their biggest game yet.”
Financial Highlights and Future Plans
In the recent Q2 financial results, Carlesund emphasized the significance of Lightning Storm, despite a slight delay in its release. The game was launched at the beginning of Q3 2024, rather than the initially planned end of Q2. Carlesund remarked, “We have been working on Lightning Storm for a long time, and I dare say it’s some of our best work yet, building on so many things that we have learnt from previous games.”
Evolution’s Q2 update revealed impressive financial performance, with operating revenues of €508.4 million, marking a 15.3% increase from the corresponding period in 2023. EBITDA also climbed by 10.9% to €345.8 million. However, the EBITDA margin slightly decreased from 70.7% in Q2 2023 to 68%. Carlesund attributed this to the largest payout in online casino history, with Crazy Time distributing over €35 million to more than 5,000 players.
Expanding the Game Portfolio
Looking ahead, Evolution has ambitious plans for its slot production, aiming to release over 100 games throughout the remainder of 2024. The RNG segment saw a modest 2% growth, but Carlesund expressed confidence in “incremental improvements” supporting future growth. “We have a high pace of fantastic game-delivery in 2024, even better than in 2023,” he stated.
In Q2, Evolution successfully launched Balloon Race, Lightning Dragon Tiger Live, and Lightning Sic Bo Live. The RNG side saw the release of 26 titles, showcasing the quality and innovation of Evolution’s four RNG brands: Red Tiger, Nolimit City, NetEnt, and Big Time Gaming.
Strategic Acquisitions and New Studios
Evolution also made strategic moves, including the acquisition of Galaxy Gaming, aiming to strengthen its position in the US market. Carlesund commented, “We are constantly looking for new ways to strengthen our position as the leading supplier of online casino games. With the acquisition, we accelerate and solidify our presence in the US market where Galaxy is licensed in 28 states.”
Additionally, Evolution is preparing to launch a new Prague-based studio and plans to open one to two more studios ahead of 2025, ensuring continued growth and innovation.
Always Bringing You the Latest Slot News
Evolution Gaming’s recent activities underscore its commitment to innovation, quality, and market expansion. From the grand launch of Lightning Storm to strategic acquisitions and new studio openings, Evolution is poised to maintain its leadership in the online casino industry. Stay tuned for more exciting updates and the latest slot news as we continue to bring you the freshest developments from Evolution and beyond.
