The Story of How Evolution Gaming Came to Dominate the Live Casino Market

Founded in 2006, this live casino B2B supplier has made a name for itself in the online gambling world. There’s almost no online casino today where you won’t find products from Evolution gaming.

The company has been able to dominate with its mind-blowing innovative games and products. It has bagged several gaming awards over the years, with the latest being Live Casino Supplier of the Year at the EGR B2B Awards 2020.

Evolution Gaming doubles their profit last year

2020 was a big year for many gaming companies in general. Due to the COVID-19 pandemic and cancellation of sporting activities, sports betting experienced a huge reduction. Physical casinos and gambling centers were also closed, leaving gamblers with no choice but to search for alternatives. As a result, there was a high demand for online gaming products like never before.

Evolution Gaming was one of those companies that benefited from the increase in the number of game players. Even during the first quarter of the year, they recorded almost double their profits.

From the records noticed on the Stockholm companies’ list, it was seen that Evolution Gaming’s revenue hit €115.1m in the first quarter of the year. This was forty-five percent higher than what the company recorded during the same period in 2019.  Their profit grew 90% up to €54.2m.

The company’s got its largest share of growth from the Asian markets, which saw returns nearly triple to €20.8m. Then, from Europe, it got 50% up and 54% from North America.

Evolution Gaming constantly develops new games for the local market

One thing you would notice about Evolution gaming is how they constantly develop games for specific markets. Their games cater to the needs of the audience in local markets, thus, helping them gain grounds and attract more customers.

For example, in 2018, they launched Live Dragon Tiger, a popular game in India. The game which is based on the Asian art culture of the Dragon and Tiger also incorporates some elements of Baccarat. Making this game available for the Indian market has helped them gain a significant number of fans.

Again, not too long ago, the company in partnership with Betway launched Bollywood Roulette, a game based on the European Roulette. The catch in Bollywood Roulette is that the live dealer speaks Hindi. Thus, Indians will be able to enjoy the popular Roulette game in their native language.

This same strategy used in the Indian local market is being used by the company to dominate the live casino industry in other countries too.

They have acquired smaller studios

In a bid to expand their collections and offerings, Evolution Gaming announced one of the biggest deals in the iGaming world in 2020. The company offered $2.1 billion to acquire NetEnt, one of the leading slots providers in the market.

This shows how large Evolution Gaming has grown over the years. Many companies in the world today which began as startups around the same time as Evolution Gaming cannot afford $2.02 billion to acquire another market leader. It also proves that the live dealer market is growing stronger and could be as large as the slots markets in the nearest future.

They are always first in new markets

Another way Evolution Gaming has been able to grow so large is their quick response to new markets. As soon as new opportunities open in a country, the company finds a way to penetrate the market and offer its services there. An example is the US gambling market which has recently opened up for online casinos. Evolution Gaming realized this opportunity quickly and went into partnership with WSI (Wynn Sports Interactive). This partnership allowed Evolution to start offering its games to players in New Jersey initially. But as many other states opened to online casinos, products from Evolution are now available in many US states.

Dragan Sutevski

Posted by Dragan Sutevski

Dragan Sutevski is a founder and CEO of Sutevski Consulting, creating business excellence through innovative thinking. Get more from Dragan on Twitter. Contact Dragan