Evolution Gaming is a game provider and software developer specializing in B2B live casino software and online casino gaming solutions.
Evolution Gaming is a game provider and software developer specializing in B2B live casino software and online casino gaming solutions.
The company is best known for its live dealer games such as Live Roulette, Live Blackjack, Live Baccarat, Dream Catcher, Monopoly Live, Crazy Time, and game show titles like Deal or No Deal and Funky Time.
Evolution Gaming was established in 2006.
The official website of Evolution Gaming is https://www.evolution.com/.
Contact information includes corporate offices primarily accessible through the website’s contact portals; specific phone numbers and emails for partnerships and support are available on the official site. Headquarters are in Stockholm, Sweden, with additional studios and offices globally.
The company was founded by Jens von Bahr and Fredrik Österberg. Martin Carlesund is the current CEO. Recent ownership includes significant shareholder Kenneth Dart acquiring a stake in 2024. The company is publicly traded with institutional and private ownership.
Sweden.
Primary offices and studios are in Stockholm (headquarters), Riga (Latvia), Malta, Spain, Belgium, and multiple US locations including New Jersey, Pennsylvania, Michigan, and Connecticut.
Evolution operates several subsidiaries acquired to expand its portfolio, including NetEnt, Red Tiger, Ezugi, Nolimit City, and Big Time Gaming, integrating them under the Evolution corporate umbrella.
Evolution Gaming is publicly traded on Nasdaq Stockholm (Nasdaq Nordic).
The company's market capitalization is in the multi-billion-euro range, with annual revenues exceeding €2 billion as projected with strong market growth.
Key executives include CEO Martin Carlesund, co-founders Jens von Bahr and Fredrik Österberg, Chief Technology Officer Lars Andersson, Chief Financial Officer, Chief Product Officer, and senior leadership experienced with average tenure around 9-10 years.
Evolution employs several thousand staff globally, including game developers, live dealer personnel, technical support, and administrative employees approximately 4,000+ employees.
Annual revenue exceeded €2 billion in 2024, showing consistent double-digit growth over the past five years, with EBITDA and net income rising steadily.
Revenue primarily from live casino software provision, live dealer games licensing, and recently expanded through slot and RNG game offerings, plus associated services for the gaming operators.
Majority (~70-80%) from live casino products, with remaining revenue from online slots and RNG games acquired via subsidiaries like NetEnt and Red Tiger.
Compound annual growth rates for revenue have ranged between 15-35% across recent years, fueled by geographic expansion and product diversification.
Plans include expanding presence in regulated North American markets, rolling out innovative live casino formats, launching new studios, and integrating acquired brands to capture broader market share.
Holds multiple licenses including UK Gambling Commission, Malta Gaming Authority, Gibraltar Gambling Commission, Swedish Gambling Authority, Danish Gambling Authority, and licenses from Canada, US states, Curacao, and others.
Licensed to operate in key regulated markets including UK, Malta, Sweden, Spain, Belgium, Denmark, Romania, Greece, Canada, USA (NJ, PA, MI, CT, WV), and others.
Overseen by regulatory bodies such as the UK Gambling Commission, Malta Gaming Authority, Gibraltar Gambling Commission, Swedish Gambling Authority, Danish Gambling Authority, and multiple state and national commissions worldwide.
Industry standard involves continuous renewal; specific pending applications are not publicly disclosed. Evolution maintains proactive engagement with regulators to ensure license compliance and expansions.
Maintains international compliance certifications including GLI, eCOGRA certifications, RNG certifications, and adheres fully to regulatory requirements in all licensed jurisdictions.
No significant public records of major regulatory sanctions or penalties; the company maintains good standing in regulatory compliance.
Implements comprehensive responsible gambling policies including player protection tools, self-exclusion support, limit-setting features, and education aligned with regulatory frameworks.
Employs independent testing from laboratories like GLI and eCOGRA, robust RNG systems, encrypted streaming, and continuous auditing to ensure fair play and player security.
Strict AML procedures are integrated into operations, including transaction monitoring, suspicious activity reporting, and compliance with KYC processes demanded by jurisdictions.
Supports KYC compliance by integrating operator and regulatory requirements for player identity verification, age checks, and documentation validation.
Games are certified and routinely audited by independent testing labs such as GLI, eCOGRA, and others for RNG integrity and fairness.
RNG systems certified by recognized international testing bodies complying with regulatory standards.
Fully compliant with GDPR regulations, implementing data protection policies, secure user data management, and privacy controls in its software and services.
Provides detailed audit trails, compliance reports, and transparent documentation for operators and regulators to validate adherence to legal and contractual obligations.
Games and RNG undergo periodic scheduled audits annually or as required by regulators; system and security audits are also regularly conducted.
Evolution holds a leading market position globally in live casino with a substantial share of the B2B live dealer software market.
Main competitors include Playtech, Authentic Gaming, Pragmatic Play Live, Playtech Live, and other emerging live casino software providers.
Known for superior live studio production quality, diverse game show portfolio, multi-camera streaming technology, global studio footprints, and rapid innovation and acquisitions.
Strongest presence in Europe, North America (notably US regulated states and Canada), and expanding in regulated markets worldwide.
Highly reputable for quality, reliability, regulatory compliance, and player engagement; favored by large tier-1 operators worldwide.
Recipient of multiple EGR awards including Live Casino Supplier of the Year and Innovation awards over several consecutive years.
Pricing tends to be premium but justified by quality, scale, and innovation; negotiable based on volume and long-term contracts.
Unique selling points include live game show concepts, multi-product integration (live tables plus RNG slots), operator customization, and global studio presence.
Strategic partnerships with major operators like Unibet, Hard Rock Casino, Betsson, and integration partnerships across multiple gaming platforms.
Positioned as the industry leader and innovator in live casino entertainment with aggressive growth and acquisition strategies.
Strengths include market leadership, scale, diverse product portfolio, innovation; challenges include premium pricing and market saturation competition.
Capitalizes on live casino growth, mobile gaming trends, regulatory expansion in North America, and demand for engaging game show formats.
Maintains strong regulatory compliance teams and adaptive licensing strategies to comply with evolving global gaming regulations.
Extensive innovation history with new game show formats, multi-camera streaming, and acquisitions expanding product offerings.
Known for quick market responses through acquisitions, new game launches, and studio openings in regulated markets.
Software is used by hundreds of online casino operators worldwide, including tier-1 global brands.
Major clients include Betsson Group, Kindred Group, Hard Rock, Caesars, and many other leading global operators.
Services online casino operators ranging from large multinational tier-1 operators to mid-size regulated market specialists.
Strong relationships with tier-1 operators; also serves tier-2 and tier-3 operators with scalable solutions and tailored packages.
High client retention attributed to product quality, service, and continuous innovation, supported by long-term partnership contracts.
New clients acquired through industry reputation, trade shows, strategic partnerships, acquisitions, and targeted sales efforts.
Typical contract lengths range from 3 to 5 years, often with renewal options depending on operator scale and market.
Offers exclusive partnerships and dedicated tables for large operators under special commercial agreements.
Provides onboarding support with integration assistance, technical support, and training for new operator clients.
Includes technical integration, compliance checks, studio access setup, and training to ensure smooth launch and operation.
Provides education and training programs, including live dealer training, product demos, and ongoing operational support.
Success examples include rapid market entry facilitation for new casinos through Evolution’s live dealer studios and exclusive content launches boosting operator revenues.
Uses regular feedback surveys, operational metrics, and direct client engagement to assess satisfaction and improve services.
Client portals, dedicated account managers, and regular review meetings are used to gather and act on feedback.
Disputes resolved through structured escalation procedures, dedicated account teams, and swift technical and operational responses.
Provides onboarding support with integration assistance, technical support, and training for new operator clients.
Develops live dealer casino games, live game shows, RNG slots, table games like blackjack, baccarat, roulette, poker variants, and innovative formats.
Releases multiple new games and game variants annually, supplemented by acquisitions which expand content offerings regularly.
Capable of developing branded and licensed content, often collaborating with operators for exclusive releases.
Offers diverse themes including classic casino, game shows, fantasy, adventure, disco, and culturally adapted content.
Provides demo and free play options to operators for player trials and promotional use.
Offers a wide range of volatility levels from low to high to cater to diverse player preferences.
RTP rates vary, generally ranging from approximately 94% to 98%, depending on game and regulatory requirements.
Offers progressive jackpot games primarily through partner studios in its portfolio.
Games feature bonus rounds, multipliers, multipath bets, gamble options, and interactive game mechanics.
Games are fully optimized for mobile devices, supporting smartphone and tablet play without loss of functionality.
Supports multiple languages tailored for global markets including English, Spanish, German, French, and more.
Provides localized content adaptation for different cultures and regulatory markets.
Implements accessibility features such as adjustable audio, screen reader compatibility, and user interface adaptation options.
Uses HTML5 for client-side game development, robust back-end frameworks for streaming, and cloud technologies for scalability.
Games are built primarily with HTML5, supplemented by streaming technologies and API frameworks for integration.
Provides comprehensive APIs for integration enabling smooth operator platform connection and feature controls.
Games are designed for easy integration with operator platforms using standardized APIs and SDKs.
Offers detailed technical documentation, integration guides, API references, and operator manuals.
Provides turnkey live casino solutions with fully integrated studios, software, and support for operators requiring ready-to-launch platforms.
Operators can modify certain game settings and RTPs according to jurisdictional compliance and player preference agreements.
Provides real-time reporting dashboards, comprehensive analytics, and player behavior tracking tools to operators.
Supports real-time game data and statistics monitoring for operational insights and decision making.
Implements encryption, secure streaming, anti-fraud systems, and continuous monitoring for security.
Regularly updates and maintains games through scheduled releases and technical patches.
Conducts rigorous load testing and optimizations to ensure stability during peak traffic and gaming sessions.
Games are compatible with various wallet systems supporting seamless player fund transfers.
Supports integration with multiple payment providers through operator platforms; no direct payment processing.
Offers comprehensive casino platform solutions including live casino management and operational tools.
Provides a suite of back office tools including player management, reporting, CRM, and compliance management.
Evolution does not primarily offer sportsbook solutions, focusing instead on live casino verticals.
Includes player management modules with activity tracking, limits, session management, and KYC compliance.
Provides operators with bonus and promotion management features integrated within the platform.
Offers CRM features for targeted marketing, player segmentation, and loyalty program management.
Includes affiliate management and tracking tools to support operator marketing efforts.
Supports marketing campaigns with in-platform tools for offers, messaging, and player engagement.
Integrates responsible gambling features such as limit setting, self-exclusion, reality checks, and player protection settings.
Offers robust business intelligence features with customizable reporting dashboards and performance metrics.
Supports multiple currencies and languages to operate across global regulated markets.
Provides tools for financial reporting and reconciliation alongside partner payment systems.
Employs advanced fraud detection systems, monitoring player behavior and transaction anomalies.
Includes compliance tools to generate reports for regulators and support audit requirements.
Designed for high scalability with cloud architecture and modular infrastructure for dynamic demand.
Investing in advanced streaming technologies, AI for player experience personalization, and data analytics.
No public verified information on VR/AR game development; industry standard involves exploring or future R&D in these areas.
Exploring blockchain and cryptocurrency integration trends industry-wide, with no confirmed large-scale deployments.
Implements AI and machine learning for operational efficiency, security, and player personalization features.
Provides fully mobile-optimized live casino games; some mobile-exclusive user experience enhancements are offered.
Continuously develops games with cross-platform compatibility for emerging devices and OS updates.
Uses advanced data analytics and personalization to tailor player experiences and optimize game offerings.
Holds patents and proprietary streaming and gaming technologies, continuously filing to protect innovations.
Continues investing in tech innovation with dedicated teams to adapt to evolving gaming technologies and player preferences.
Significant investments in R&D focusing on live streaming, game innovation, and platform scalability.
Collaborates selectively with tech startups and academic institutions for cutting-edge solutions and research.
Pioneers interactive live game show mechanics, multi-game play, and integrated betting options within live casino formats.
Ensures seamless, consistent gaming across desktop, mobile, and tablet utilizing responsive HTML5 and streaming technologies.
Focuses on immersive live experiences, AI-powered personalization, geographic expansion, and product diversification.
Revenue primarily derived from revenue share models, fixed fees, and hybrid arrangements with operators.
Revenue share percentages typically range around 30%-40%, aligned with industry standards for live casino providers.
Setup fees vary but are customary in B2B agreements with customization and integration scope.
Volume commitments are negotiated on a case-by-case basis depending on operator scale and market.
Offers tiered pricing packages and custom commercial terms for different operator segments.
Provides discounts and incentives for long-term contracts and high-volume operator partnerships.
Pricing is competitive yet positioned at a premium due to quality and innovation advantages.
Additional charges may apply for exclusive content, custom studio tables, and advanced features.
Typical billing cycles are monthly or quarterly with flexible payment arrangements depending on contract terms.
Performance-based pricing and bonuses may be negotiated with large tier-1 operators.
Contracts usually include early termination clauses with penalties or notice period requirements.
Adding new games or features often incurs integration and licensing fees specified per contract.
Technical support and maintenance are generally included but premium 24/7 support can have additional fees.
Pricing can vary by geographic market reflecting regulatory and operational cost differences.
Evolution is known for commercial term flexibility to align with operator business models.
Standard contracts typically span 3-5 years with renewal options.
Provides exclusivity options for key operators including territory and game exclusivity.
Contracts may include minimum revenue guarantees or performance metrics to protect provider investments.
Intellectual property rights are retained by Evolution; operators are licensed under negotiated terms.
Contract disputes are resolved through arbitration or negotiated settlement per agreement terms.
Notice periods and termination clauses are clearly defined in contracts, generally requiring 3-6 months prior notice.
Non-compete and confidentiality agreements are standard to protect proprietary technology and business information.
Contracts include liability and indemnification clauses to define responsibilities and risks.
Contracts incorporate force majeure provisions covering extraordinary events affecting performance.
Agreements explicitly outline regulatory compliance responsibilities and obligations.
SLA commitments typically guarantee 99.9% uptime and defined performance standards.
Data handling policies ensure player information is managed appropriately upon contract termination.
Operator marketing and branding activities are regulated under contract with approval requirements.
Promotional approvals are required to ensure compliance with regulatory and brand standards.
Modifications and amendments require mutual consent following formal agreement procedures.
Provides comprehensive technical support including integration assistance, troubleshooting, and updates.
Offers 24/7 support for critical operations; standard support hours vary regionally.
Support channels include phone, email, live chat, and ticketing systems for issue tracking.
Known for rapid response times, often resolving critical issues within hours.
Dedicated account managers assist operators with relationship management and strategic guidance.
Provides consulting services including market entry advice, regulatory compliance, and product strategy.
Offers training programs covering product use, dealer training, compliance, and operational best practices.
Runs certification programs to ensure operator and dealer team proficiency.
Supplies marketing materials including promotional assets, branding support, and campaign guidance.
Assists operators with licensing applications and regulatory compliance processes.
Provides hands-on integration support and project management for smooth system deployment.
Premium support and consultancy services may incur additional costs as per contract.
Disputes resolved through structured escalation procedures, dedicated account teams, and swift technical and operational responses.
Employs structured escalation paths to senior technical and management levels for unresolved cases.
On-site support is available upon client request and contractual agreement.
Guarantees industry-standard 99.9% uptime for platform and games.
Maintains strong historical uptime performance with minimal downtime events.
Conducts scheduled maintenance with prior client notification and minimal disruption.
Has robust disaster recovery and business continuity plans to ensure operational resilience.
Uses backup and redundancy systems including clustered servers and data replication.
Provides continuous performance monitoring and detailed reporting to operators.
Scales infrastructure dynamically to manage traffic spikes and high-demand periods.
Employs advanced cybersecurity measures, including encryption, intrusion detection, and regular audits.
Conducts frequent security audits and penetration tests to identify and remedy vulnerabilities.
Has documented incident response protocols including containment, investigation, and reporting.
Notifies clients promptly of service issues and provides status updates regularly.
May offer service credits or compensation clauses for major service interruptions.
Enforces strict data integrity measures including regular backups and data encryption.
Holds international security and quality certifications recognized in the gaming industry.
Measures and reports on system uptime, latency, player activity, and error rates.
Invests a significant percentage of revenue, often estimated above 10%, into research and development.
Employs a large team of developers and engineers, estimated between several hundred to over 500 globally.
Current R&D focuses on streaming technology, AI-driven personalization, new game mechanics, and platform scalability.
Maintains dedicated innovation and game development teams across multiple locations.
Exploring AI, machine learning, blockchain potential, and immersive gaming experiences including AR/VR.
Uses player and operator feedback via analytics and direct inputs to guide product development.
Uses agile methodologies with iterative development cycles ranging from months per game to continuous updates.
Actively acquires and partners with external studios to broaden game portfolio and innovation.
Employs rigorous QA including automated and manual testing, compliance verification, and live environment simulations.
Prioritizes features based on market trends, operator demands, and player engagement data.
Runs beta testing programs with select operators before full game launches.
Uses legal and technical measures to protect intellectual property and maintain trade secret confidentiality.
Utilizes agile and scrum project management for efficient development and delivery.
Ensures cross-platform compatibility across desktop, mobile, and tablet devices through HTML5 technology.
Applies modern UX/UI principles focusing on ease of use, clarity, and immersive interaction.
Plans to strengthen presence in regulated US states, Latin America, and Asia-Pacific regions.
Pursuing additional licenses in expanding jurisdictions as regulations evolve globally.
Expanding studios and market entries in North America and other emerging regulated markets.
Considering expanding in virtual sports, esports betting segments, and enhanced RNG slot offerings.
Continues acquisitions (e.g., Nolimit City, Big Time Gaming) and strategic partnerships to broaden portfolio and presence.
Focused on innovation, quality, and market penetration to maintain lead against emerging competitors.
Invests heavily in brand marketing, trade shows, content marketing, and operator partnership programs.
Exploring integration with social platforms and new digital distribution channels.
Uses data analytics and AI to adapt games to evolving player tastes and engagement styles.
Sees itself as a consolidator and leader helping shape the live casino sector’s future.
Focus mainly on software and streaming tech, no major proprietary hardware developments publicly indicated.
Maintains adaptive legal and compliance teams to respond proactively to regulatory changes.
Continues innovation, expansion, and client-centric services to sustain market leadership.
Prioritizes mobile-first game development and streaming optimization.
Focuses intensely on expanding live dealer offerings with high-quality streaming and interactive game shows.
Monitoring esports and virtual sports trends; considering strategic development in these areas.
Evaluating blockchain and crypto for future integration aligned with market and regulatory readiness.
Implements AI-driven personalized gaming experiences and smart content recommendations.
Continuously advancing responsible gambling tools in line with evolving industry standards and regulations.
Targets emerging markets with tailored content and regulatory approaches for demographic expansion.
Supports integration with multiple operator payment systems adapting to evolving player payment preferences.
Developing unified cross-device, cross-channel gaming platforms for seamless player experiences.
Invests in enhanced compliance systems and reporting to meet increasing regulatory scrutiny.
Maintains strong data privacy policies and compliance frameworks across all operations globally.
Focuses on attracting top industry talent and providing career development to retain skilled workforce.
Adapts product offerings and service levels to meet enhanced operator and player expectations.
Invests in scalable cloud infrastructure to support global streaming and gaming services.
Continuously optimizes game load and streaming performance for superior player experience.
Expanding BI capabilities to provide operators with actionable insights and player analytics.
Upgrading API offerings for faster, more seamless integration with operator platforms.
Implements advanced cybersecurity protocols including encryption, regular audits, and threat monitoring.
Enhancing platform architecture for improved scalability and flexibility to meet operator growth.
Adopts modern development frameworks and tools for agile and efficient software delivery.
Enhances content delivery networks and management systems for faster and reliable game streaming.
Adding AI and machine learning capabilities for predictive analytics and player behavior personalization.
Continuously improving QA through automated testing, iterative feedback, and compliance checks.
Implements modern communication platforms to enhance internal and external collaboration.
Enhances content delivery networks and management systems for faster and reliable game streaming.
Pursues automation to improve operational efficiency in development, deployment, and support.
Investing in next-gen gaming technologies to lead innovation in live casino and interactive gaming.
Modernizes legacy systems continually to support scalability and new tech integration.