Evolution Gaming Leads the Way in Live Casino Growth

According to Grand View Research, the global iGaming marketplace is set to grow at a compound annual growth rate (CAGR) of 11.7% between 2023 and 2030. Having been valued at $65.53 billion in 2022, this equates to a multi-billion-dollar rise in the sector’s value year-on-year. A key component in the drive towards iGaming has been the success of live-streamed casino gaming.

Evolution Gaming has been at the forefront of the live dealer casino space, turbocharged by the rapid proliferation of smartphones and the continued penetration of broadband internet worldwide. The Swedish firm works at a B2B level, supplying more first-rate iGaming operators than any other B2B provider in the live casino marketplace.

Several live dealer games conceived by Evolution have gone on to become household favorites in the iGaming scene, not least Crazy Time Live, which ushered in a new era of wheel-based live dealer gameshows. These wheel-based games transport players into a TV gameshow-style experience, where the spin of the wheel ultimately controls your fate. Wheel-based games have also proven a refreshing change with little to no skill or strategy required, ticking all the right boxes for casual gamers.

Evolution has tightened its grip on operational cost control

As for its latest trading update covering Q1 2023, Evolution’s figures suggest the company has mastered the innovation and operation of its suite of live casino games. New games have generated high demand and tighter cost control has had a “positive effect” on its operating margin. In the first quarter, Evolution’s operating revenues were up 31.5% year-on-year to £369.26m, seemingly making light work of the ensuing cost-of-living crisis.

The company’s EBITDA was also up year-on-year by 30.7%, reflecting a profit margin of 69.9%, which is only a shade lower than this time last year (70.3%).

Perhaps the most telling statistic is that more than four-fifths (83.8%) of all revenue generated by Evolution in Q1 2023 was derived from its full suite of live dealer casino games. The remaining 16.2% was generated through its random number generator (RNG)-powered slot and table games.

Live casino revenues were up 36.1% year-on-year, totaling £309.59 million. The firm described “strong demand” from its existing customer base as well as first-time players, with “good momentum” generated by its latest live casino titles.

Inside the inner workings of Evolution’s live dealer studios

Evolution continues to focus on the North American iGaming market as one of its biggest growth areas. With more US states continuing to legalize and regulate iGaming all the time, Evolution is well-placed to strike and cement itself as the pioneer of live-streamed casino games which replicate the casino floor experience.

In its latest trading update, Evolution CEO, Martin Carlesund, said the firm was honing “smarter ways” of operating its studios while respecting the “external challenges” which have lingered since 2022.

Its largest live casino studio is situated in the Latvian capital of Riga. Also situated just a few minutes' walk from this Riga studio is the ‘Evolution Academy’, where the team professionally trains its live dealers and gameshow hosts to ensure they never miss a beat when managing games live for real money.

The training process is truly rigorous and unrivaled in the marketplace. Some 120 presenters are put through their paces weekly, including presenters already employed. This is due to the ever-changing demands of live casino games with new rules and features appearing all the time. Evolution invests in one-to-one training sessions as well as automated training modules, allowing presenters to practice their gameplay in their own time – at their own pace – using simulated games.

At the heart of its studios are its mission control rooms, which monitor the action across all tables. Supervisors are on-hand here to offer real-time support to dealers and studio supervisors in the event of a query.

The games themselves rely heavily on a technology known as optical character recognition (OCR). OCR technology is utilized to record the results of table and wheel-based games in real-time. For instance, the deal of blackjack cards to players requires dealers to run each card over a camera from the deck. The value of the card is then immediately displayed on-screen to the player. In fact, there’s precious little difference between the time it takes to process card values playing on a casino floor to playing online at a live casino.

Photo by Dusan Kipic on Unsplash

Evolution is also increasing its offering of ‘branded’ live dealer tables. Some of its partnered casino operators now have their own branded table games. All of which help to enhance the sense of immersivity which live casino gaming brings.

The latest live casino titles off the Evolution conveyor belt

Carlesund revealed Evolution planned to launch 100+ new live dealer titles in 2023 alone. With “high ambitions” and a desire to take advantage of a “growing market”, there are several new arrivals from Evolution to the live-streamed iGaming sector so far in H1 2023.

We’ve already mentioned the impact Crazy Time’s wheel-based game has had on the global iGaming scene. In May, Evolution announced a new Funky Time 70s disco-inspired wheel-based gameshow. Describedas its “biggest new development” since the release of Crazy Time, this game is set within a retro disco club environment, with disco glitterballs and funky basslines. The game targets an older demographic of players, which may prove a clever strategic move, particularly in immature iGaming markets like America where older citizens may be encountering live casino games for the first time.

In March, Evolution joined forces with Big Time Gaming to develop a live dealer gameshow inspired by a popular online slot called Extra Chilli. Extra Chilli Epic Spins is a fusion of slot game dynamics and wheel-based gameplay, set within a red-hot Mexican-themed studio.

As we move into H2 2023, attention will soon turn to Evolution’s Q2 2023 results, which will be published imminently. With growth experienced across Latin America as well as North America and robust performance in the UK and Nordics where Evolution’s presence has been established longest, it’s clear there is still plenty of scope for growth at Evolution HQ.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes.