Founded in 2006, Evolution Gaming is regarded by most as the benchmark when it comes to live dealer table games. A rebrand in October 2020 saw them drop the ‘Gaming’ and they now operate from nine major studios, over 1000 tables (at end of 2021) with many more on the way, localised dealer chat, an extensive game range and full mobile compatibility. They also have a first-class reputation for customer service and have won the EGR B2B Live Casino Supplier of the Year award ten times in a row.
They’ve become a big name in the industry and work closely with land-based casinos and online operators to offer a unique and highly immersive experience. The company’s technology is second to none and the production values are exceptional. It’s this that has made the company a leading force in the global iGaming market.
The company’s main studio in Riga, Latvia has more than 100 different tables and is one of the largest live dealer operation sites in Europe. In addition to this, the firm has opened a studio in Malta and engineering hubs in Estonia, Netherlands and Romania. The company is licensed in multiple jurisdictions, including the Malta Gaming Authority and the UK Gambling Commission.
In addition to traditional live dealer tables, the company offers a number of specialised games. These include a variety of variants of blackjack and roulette as well as popular slot games. Among the most popular are the wheel of fortune style games like Money Wheel and Dream Catcher. Those who want to place the occasional casual bet can choose tables with low Evolution gaming betting limits while high rollers will find plenty of action at the exclusive high stakes tables.
The firm has also branched out into the virtual world with a range of games that take players into the heart of the action. These virtual reality games are powered by state-of-the-art technology and feature a host of immersive features.
Despite all these successes, Evolution is not without its detractors. In fact, the company’s shares took a dive almost as soon as the news of the New Jersey incident was published. The stock price lost around $3bn of its value in the week following this allegation.
As a result, it will be interesting to see how the company reacts to this negative publicity and whether it can regain its place as the leader in the iGaming market. It’s certainly not cheap to invest in the company, with a P/S ratio of 36 and an EBITDA multiple of 66.7. However, if the company can continue to grow its profits at this rate then it could be worth investing for the long term.
It will be interesting to see what happens next with the merger with NetEnt. Bringing the two together will create a global powerhouse that is perfectly positioned to drive digitalisation of the global gaming industry. It’s a move that will make iGaming even more competitive and one that should benefit all players in the long run.
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