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Evolution AB

Evolution AB
Company typePublic
Nasdaq Stockholm: EVO
IndustryGambling
Founded2006; 18 years ago (2006)
FoundersJens von Bahr
Fredrik Österberg
Headquarters
Stockholm
,
Sweden
Area served
Worldwide
Key people
Martin Carlesund (CEO)
RevenueIncrease €1.798 billion (2023)
Increase €1.142 billion (2023)
Increase €1.070 billion (2023)
Total assetsIncrease €4.973 billion (2023)
Total equityIncrease €4.006 billion (2023)
Number of employees
19,221 (2023)
Websiteevolution.com
Footnotes / references
Financials as of 31 December 2023 [1]

Evolution AB is a Swedish gaming technology company headquartered in Stockholm.[2][3] It develops and licenses B2B live casino software for online casino operators.[4]

History

Evolution AB was founded in 2006 by Jens von Bahr and Fredrik Österberg.[5][6]

In 2013, Evolution launched its 100th live table at the Riga studios, becoming the largest single-site casino operation in Europe, and opened a studio in Spain.[7][8] A studio in Malta opened in 2014.[9]

Evolution was listed on Nasdaq First North Premier, Stockholm, on March 20, 2015, and subsequently opened a studio in Belgium.[10][11][12]

In 2017, Evolution was listed on Nasdaq Nordic and later launched Dream Catcher.[13][14][15] In the same year, Martin Carlesund was appointed as the CEO of the company, succeeding Jens von Bahr.[16]

In 2018, Evolution acquired Ezugi and expanded with new facilities in Canada, Georgia, and New Jersey, U.S.[17][7] It also signed agreements to provide Live Casino services to Unibet, Hard Rock Hotel, and Casino Atlantic City.[18][19][20]

In 2019, Evolution introduced Monopoly Live and Deal or No Deal.[21] The same year, new games such as 2 Hand Casino Hold’em were launched.[7]

In 2020, Evolution entered into an agreement with Intralot and acquired NetEnt, NetEnt Casino, and Red Tiger.[22][23][24] Later, it launched Speed Blackjack and Crazy Time, and opened new studios in Pennsylvania, USA, and Lithuania.[25] Additionally, it introduced an online live craps game in the same year.[26][27]

In 2021, Evolution acquired Digiwheel and Big Time Gaming and later opened its third US studio in Michigan.[28][29][30]

In 2022, Evolution launched XXXtreme Lightning Roulette, went live in West Virginia, and opened its fourth US studio in Connecticut.[31][32] In the same year, the company acquired Nolimit City, introduced Monopoly Big Baller, and went live on the first day of Ontario's gaming market opening, along with launching its second New Jersey studio.[33][34][35]

In 2023, Evolution introduced Funky Time, a 70s disco-themed live game show.[36]

In 2024, Kenneth Dart, a billionaire based in Cayman Islands, acquired a 5 percent stake in Evolution AB.[37]

Games

Evolution AB is known for developing internet games such as Balloon Race and Lightning Storm.[37] One of the most successful game of Evolution is Lighting Roulette which was launched in 2018. It is a live casino game that combines a European Roulette wheel with randomly generated multipliers that increase payouts on specific bets.[38]

References

  1. ^ "Evolution AB Annual Report 2023" (PDF). Retrieved 2 August 2024.
  2. ^ Svensson, Daniel (April 19, 2018). "Ledningens förtroende på spel i Evolution | Daniel Svensson" – via Svenska Dagbladet.
  3. ^ Ekblom, Jonas (December 10, 2020). "Nätkasino puttar ut SSAB från populärt börsindex" – via Svenska Dagbladet.
  4. ^ BråseText, Analys:Richard (April 17, 2020). "Kursraketen trotsar mörkret – rusar mot verkliga finrummet". Dagens industri.
  5. ^ Thunborg, Peter (January 25, 2021). "Svenskduon har tjänat 23 miljarder på börsraketen". Expressen.
  6. ^ Skovdahl, Saga (August 7, 2020). "Svenskarna som drar in miljarder på casino – ägarna bakom Evolution Gaming". Expressen.
  7. ^ a b c "Evolution Timeline".
  8. ^ https://www.intergameonline.com/igaming/news/evolution-to-open-100th-live-casino-table
  9. ^ "Evolution Gaming to expand live dealer capacity with new Malta studio". Gaming Intelligence. September 17, 2013.
  10. ^ ÅkessonText, Nils (November 21, 2017). "Evolution Gaming-grundaren: Vi säljer av filosofiska skäl". Dagens industri.
  11. ^ https://www.nasdaq.com/about/press-center/nasdaq-welcomes-evolution-gaming-nasdaq-first-north-premier
  12. ^ "Evolution's new Belgium Live Casino studio in the historic Casino De Spa, attracts A-Licence holders to secure major share of market".
  13. ^ "Evolution Gaming klart för Stockholmsbörsen". Dagens industri. June 2, 2017.
  14. ^ Team, iGB Editorial (June 8, 2017). "Evolution begins trading shares on Nasdaq Stockholm".
  15. ^ https://igamingbusiness.com/tech-innovation/codeta-launches-evolution-gamings-dream-catcher/
  16. ^ DirektText, Nyhetsbyrån (October 25, 2016). "Ny vd för Evolution Gaming". Dagens industri.
  17. ^ Team, iGB Editorial (November 22, 2018). "Evolution acquires live casino rival Ezugi".
  18. ^ DirektText, Nyhetsbyrån (July 13, 2018). "Evolution Gaming tecknar avtal i Atlantic City". Dagens industri.
  19. ^ "Unibet launches new live dealer game created by Evolution". www.gamblinginsider.com.
  20. ^ https://www.intergameonline.com/igaming/news/evolution-to-power-hard-rock-hotel-and-casino-atlantic-city
  21. ^ Levy, Joe (September 9, 2022). "DAAP betting exchange launches in beta - EGR Intel".
  22. ^ DirektText, Nyhetsbyrån (July 21, 2020). "Evolution Gaming tecknar avtal med Intralot". Dagens industri.
  23. ^ "Evolution Gaming lägger bud på Net Ent". www.privataaffarer.se.
  24. ^ Team, iGB Editorial (September 5, 2019). "NetEnt agrees £220m acquisition of Red Tiger Gaming".
  25. ^ Fletcher, Rob (November 10, 2020). "Evolution to launch with Caesars in Pennsylvania".
  26. ^ Fletcher, Robert (November 12, 2020). "Evolution claims market first with online craps".
  27. ^ https://www.intergameonline.com/igaming/news/evolution-launches-worlds-first-live-craps-game
  28. ^ Fletcher, Robert (September 10, 2021). "Evolution agrees to acquire developer DigiWheel for €1m".
  29. ^ "Evolution to acquire Big Time Gaming". April 12, 2021.
  30. ^ "Evolution launches live studio in Michigan - EGR North America". July 23, 2021.
  31. ^ "PRODUCT REVIEW: EVOLUTION – XXXTREME LIGHTNING ROULETTE". www.gamblinginsider.com.
  32. ^ "Evolution Gaming Studio in Connecticut". CT.gov - Connecticut's Official State Website.
  33. ^ Fletcher, Robert (August 9, 2022). "Evolution completes acquisition of Nolimit City".
  34. ^ "EVOLUTION LAUNCHES SECOND NEW JERSEY LIVE CASINO STUDIO".
  35. ^ "EVOLUTION LAUNCHES MONOPOLY BIG BALLER, A BINGO-STYLE LIVE GAMES SHOW BASED ON THE WORLD-FAMOUS BOARD GAME".
  36. ^ "Evolution launches Funky Time". Gambling Insider.
  37. ^ a b Daly, Charles (August 9, 2024). "Billionaire Dart Takes 5% Stake in Swedish Group Evolution". Bloomberg.
  38. ^ "The thing with playing Lightning Roulette | Livedealer.org".
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