Live dealer online casino specialists Evolution Gaming have announced a senior management shakeup despite Q3 earnings numbers showing the company firing on all cylinders.
On Tuesday, Evolution released an interim report covering the three months ending September 30, during which revenue rose 47% to €29.2m, earnings rose 37% to €10.8m and profit rose 27% to €7.4m.
The numbers are even more favorable on a year-to-date basis, with revenue rising 52% to €81.1m, earnings up 46% to €31.6m and profit gaining 40% to €22.7m.
Evolution CEO Jens von Bahr (pictured) said the Q3 numbers were all the more impressive given that they show quarter-on-quarter growth, despite Q3 being an historically weaker period.
Growth would have been even higher were it not for Evolution’s ongoing expansion moves, including the launch of a new Live Casino studio at the Grand Casino Bucharest in Romania, which brings Evolution’s total complement of live studios to seven. The company’s workforce has grown from 1,772 at the end of Q3 2015 to 2,985 as of September 30.
The quarter brought new launches for Evolution clients Mr Green, Tempobet, Royal Panda and Marathonbet. The latter’s launch included a new roulette table featuring branding by Marathonbet’s betting partner Manchester United. Q3 also saw Evolution launch its Dual Play Roulette product at two iconic London casinos, the Ritz Club and the Hippodrome.
Von Bahr used the Q3 report to announce that he would be relinquishing the CEO role to become executive chairman effective November 1. Von Bahr insisted that his new gig means he “will not work less, just have a different focus.” Von Bahr thanked former chairman Joel Citron, who will remain a member of the board to focus on governance issues.
Martin Carlesund will be assuming the CEO responsibilities while Johan Nordström has been named CEO of Evolution Malta.
