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Evolution Beats the Competition: Opinion of the Company’s CEO

24 march 2023
Author: James Burton
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Evolution Gaming is looking to enlarge the performance interval with other firms. The brand will seek to expand its offerings during 2023. The company’s CEO Martin Carlesund expressed his thoughts regarding the development of the studio. He also mentioned figures showing the brand's actual growth.

Evolution’s growth: Martin Carlesund’s opinion

Among the most critical notions, there were such facts about 2022:

  • revenue increased by 36.3% to EUR 1.45 million;
  • live content profits exceeded the EUR 1 billion mark;

The RNG division's profit was almost EUR 268.5 million (the growth compared to 2021 was nearly 17%). The company also added Nolimit City, a brand that Mr Carlesund described as provocative. With its help, Evolution expects a significant increase in the release of new titles.

Factors That Influenced the Firm’s Results in 2022

The CEO explained that the industry conditions remain difficult. There are several reasons for the complexities in the gambling market:

  • the war in Ukraine;
  • rising inflation;
  • supply problems.

The company’s results differed depending on the operational branch. The live department emphasised the high product request in all developing territories.

In the RNG division, revenues were below the hoped-for threshold. Mr Carlesund named the reason why this branch did not achieve the desired results: structure-oriented efforts and the renewal of back-ends took longer than anticipated.

In 2022, the provider expanded and opened modern studios with real dealers in:

  • Madrid;
  • Yerevan;
  • New Jersey;
  • Connecticut.

Evolution also entered West Virginia and Ontario. The company will continue to develop in North America by opening 1−2 fresh locations there soon.

Plans for 2023

This year, the firm wants to present at least 100 new entertainment products. The fresh titles would retain regular players and attract new types of punters.

The CEO also added that the company wishes to do more and better. The studio already boasts more than 1,300 live games and will attempt to increase this number in 2023.

In addition, the firm will seek to keep its network funding at a high level. Mr Carlesund thanked the studio’s workers for the achievements gained in 2022. He also stated that there will be a lot of work to do in 2023.

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