Evolution AB
{{Short description|Online gambling software company}}
{{Infobox company
| name = Evolution AB
| logo = Evolution AB logo.png
| logo_caption =
| type = Public
| industry = Gambling
| traded_as = {{OMX|SSE107867|EVO}}
| founded = {{Start date and age|2006}}
| founders = Jens von Bahr
Fredrik Österberg
| hq_location_city = Stockholm
| hq_location_country = Sweden
| area_served = Worldwide
| key_people = Martin Carlesund (CEO)
| products =
| owner =
| revenue = {{Increase}} {{€|1.798 billion}}
| revenue_year = 2023
| operating_income = {{increase}} {{€|1.142 billion}}
| income_year = 2023
| net_income = {{increase}} {{€|1.070 billion}}
| net_income_year = 2023
| assets = {{Increase}} {{€|4.973 billion}}
| assets_year = 2023
| equity = {{Increase}} {{€|4.006 billion}}
| equity_year = 2023
| num_employees = 19,221
| num_employees_year = 2023
| parent =
| footnotes = Financials {{as of|2023|12|31|lc=y}} {{cite web|title=Evolution AB Annual Report 2023|url=https://mb.cision.com/Main/12069/3957229/2714767.pdf |access-date=2 August 2024}}
| website = {{URL|evolution.com}}
}}
Evolution AB is a Swedish gaming technology company headquartered in Stockholm.{{Cite web|url=https://www.svd.se/a/ddBBdA/ledningens-fortroende-pa-spel-i-evolution|title=Ledningens förtroende på spel i Evolution | Daniel Svensson|first=Daniel|last=Svensson|work=Svenska Dagbladet |date=April 19, 2018}}{{Cite web|url=https://www.svd.se/a/X8oEgW/natkasino-puttar-ut-ssab-fran-populart-borsindex|title=Nätkasino puttar ut SSAB från populärt börsindex|first=Jonas|last=Ekblom|work=Svenska Dagbladet |date=December 10, 2020}} It develops and licenses B2B live casino software for online casino operators.{{Cite web|url=https://www.di.se/analys/kursraketen-trotsar-morkret-rusar-mot-verkliga-finrummet/|title=Kursraketen trotsar mörkret – rusar mot verkliga finrummet|first=Analys:Richard|last=BråseText|date=April 17, 2020|website=Dagens industri}}
History
Evolution AB was founded in 2006 by Jens von Bahr and Fredrik Österberg.{{Cite web|url=https://www.expressen.se/ekonomi/aktier-och-bors/svenskduon-har-tjanat-23-miljarder-pa-borsraketen/|title=Svenskduon har tjänat 23 miljarder på börsraketen|first=Peter|last=Thunborg|date=January 25, 2021|website=Expressen}}{{Cite web|url=https://www.expressen.se/premium/nyheter/svenskarna-som-drar-in-miljarder-pa-casino/|title=Svenskarna som drar in miljarder på casino – ägarna bakom Evolution Gaming|first=Saga|last=Skovdahl|date=August 7, 2020|website=Expressen}}
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.{{Cite web|url=https://www.evolution.com/who-we-are/timeline/|title=Evolution Timeline}}{{cite web | url=https://www.intergameonline.com/igaming/news/evolution-to-open-100th-live-casino-table | title=Evolution to open 100th live casino table | date=22 January 2013 }} A studio in Malta opened in 2014.{{Cite web|url=https://www.gamingintelligence.com/uncategorised/15793-evolution-gaming-aims-to-expand-live-dealer-capacity-with-malta-studio-2/|title=Evolution Gaming to expand live dealer capacity with new Malta studio|date=September 17, 2013|website=Gaming Intelligence}}
Evolution was listed on Nasdaq First North Premier, Stockholm, on March 20, 2015, and subsequently opened a studio in Belgium.{{Cite web|url=https://www.di.se/nyheter/evolution-gaming-grundaren-vi-saljer-av-filosofiska-skal/|title=Evolution Gaming-grundaren: Vi säljer av filosofiska skäl|first=Nils|last=ÅkessonText|date=November 21, 2017|website=Dagens industri}}https://www.nasdaq.com/about/press-center/nasdaq-welcomes-evolution-gaming-nasdaq-first-north-premier{{Cite web|url=https://www.evolution.com/news/evolutions-new-belgium-live-casino-studio-historic-casino-de-spa-attracts-licence-holders/|title=Evolution's new Belgium Live Casino studio in the historic Casino De Spa, attracts A-Licence holders to secure major share of market}}
In 2017, Evolution was listed on Nasdaq Nordic and later launched Dream Catcher.{{Cite web|url=https://www.di.se/nyheter/evolution-gaming-klart-for-stockholmsborsen/|title=Evolution Gaming klart för Stockholmsbörsen|date=June 2, 2017|website=Dagens industri}}{{Cite web|url=https://igamingbusiness.com/casino-games/evolution-begins-trading-shares-on-nasdaq-stockholm/|title=Evolution begins trading shares on Nasdaq Stockholm|first=iGB Editorial|last=Team|date=June 8, 2017}}{{cite web | url=https://igamingbusiness.com/tech-innovation/codeta-launches-evolution-gamings-dream-catcher/ | title=Codeta launches Evolution Gaming's 'Dream Catcher' | date=16 May 2017 }} In the same year, Martin Carlesund was appointed as the CEO of the company, succeeding Jens von Bahr.{{Cite web|url=https://www.di.se/nyheter/ny-vd-for-evolution-gaming/|title=Ny vd för Evolution Gaming|first=Nyhetsbyrån|last=DirektText|date=October 25, 2016|website=Dagens industri}}
In 2018, Evolution acquired Ezugi and expanded with new facilities in Canada, Georgia, and New Jersey, U.S.{{Cite web|url=https://igamingbusiness.com/casino-games/evolution-acquires-live-casino-rival-ezugi/|title=Evolution acquires live casino rival Ezugi|first=iGB Editorial|last=Team|date=November 22, 2018}} It also signed agreements to provide Live Casino services to Unibet, Hard Rock Hotel, and Casino Atlantic City.{{Cite web|url=https://www.di.se/nyheter/evolution-gaming-har-tecknat-avtal-i-atlantic-city/|title=Evolution Gaming tecknar avtal i Atlantic City|first=Nyhetsbyrån|last=DirektText|date=July 13, 2018|website=Dagens industri}}{{Cite web|url=https://www.gamblinginsider.com/news/14620/unibet-launches-new-live-dealer-game-created-by-evolution|title=Unibet launches new live dealer game created by Evolution|website=www.gamblinginsider.com}}{{cite web | url=https://www.intergameonline.com/igaming/news/evolution-to-power-hard-rock-hotel-and-casino-atlantic-city | title=Evolution to power Hard Rock Hotel and Casino Atlantic City | date=8 August 2018 }}
In 2019, Evolution introduced Monopoly Live and Deal or No Deal.{{Cite web|url=https://www.egr.global/intel/news/daap-launches-decentralised-betting-exchange/|title=DAAP betting exchange launches in beta - EGR Intel|first=Joe|last=Levy|date=September 9, 2022}} The same year, new games such as 2 Hand Casino Hold’em were launched.
In 2020, Evolution entered into an agreement with Intralot and acquired NetEnt, NetEnt Casino, and Red Tiger.{{Cite web|url=https://www.di.se/live/evolution-gaming-tecknar-avtal-med-intralot/|title=Evolution Gaming tecknar avtal med Intralot|first=Nyhetsbyrån|last=DirektText|date=July 21, 2020|website=Dagens industri}}{{Cite web|url=https://www.privataaffarer.se/placeringar/aktier/evolution-gaming-lagger-bud-pa-net-ent/|title=Evolution Gaming lägger bud på Net Ent|website=www.privataaffarer.se}}{{Cite web|url=https://igamingbusiness.com/casino-games/netent-agrees-220m-acquisition-of-red-tiger-gaming/|title=NetEnt agrees £220m acquisition of Red Tiger Gaming|first=iGB Editorial|last=Team|date=September 5, 2019}} Later, it launched Speed Blackjack and Crazy Time, and opened new studios in Pennsylvania, USA, and Lithuania.{{Cite web|url=https://www.igbnorthamerica.com/evolution-to-launch-with-caesars-in-pennsylvania/|title=Evolution to launch with Caesars in Pennsylvania|first=Rob|last=Fletcher|date=November 10, 2020}} Additionally, it introduced an online live craps game in the same year.{{Cite web|url=https://igamingbusiness.com/casino-games/evolution-claims-market-first-with-online-craps/|title=Evolution claims market first with online craps|first=Robert|last=Fletcher|date=November 12, 2020}}{{cite web | url=https://www.intergameonline.com/igaming/news/evolution-launches-worlds-first-live-craps-game | title=Evolution launches world's first live craps game | date=12 November 2020 }}
In 2021, Evolution acquired Digiwheel and Big Time Gaming and later opened its third US studio in Michigan.{{Cite web|url=https://igamingbusiness.com/strategy/ma/evolution-agrees-to-acquire-developer-digiwheel-for-e1m/|title=Evolution agrees to acquire developer DigiWheel for €1m|first=Robert|last=Fletcher|date=September 10, 2021}}{{Cite web|url=https://igamingbusiness.com/strategy/ma/evolution-to-acquire-big-time-gaming/|title=Evolution to acquire Big Time Gaming|date=April 12, 2021}}{{Cite web|url=https://www.egr.global/northamerica/news/evolution-launches-live-studio-in-michigan/|title=Evolution launches live studio in Michigan - EGR North America|date=July 23, 2021}}
In 2022, Evolution launched XXXtreme Lightning Roulette, went live in West Virginia, and opened its fourth US studio in Connecticut.{{Cite web|url=https://www.gamblinginsider.com/magazine/381/product-review-evolution-xxxtreme-lightning-roulette|title=PRODUCT REVIEW: EVOLUTION – XXXTREME LIGHTNING ROULETTE|website=www.gamblinginsider.com}}{{Cite web|url=https://portal.ct.gov/en/404error/?item=%2foffice-of-the-governor%2fnews%2fpress-releases%2f2022%2f07-2022%2fgovernor-lamont-announces-opening-of-evolution-gaming-studio-in-connecticut&user=extranet%5cAnonymous&site=website|title=Evolution Gaming Studio in Connecticut|website=CT.gov - Connecticut's Official State Website}} 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.{{Cite web|url=https://igamingbusiness.com/strategy/ma/evolution-completes-acquisition-of-nolimit-city/|title=Evolution completes acquisition of Nolimit City|first=Robert|last=Fletcher|date=August 9, 2022}}{{Cite web|url=https://www.evolution.com/news/second-new-jersey-studio/|title=EVOLUTION LAUNCHES SECOND NEW JERSEY LIVE CASINO STUDIO}}{{Cite web|url=https://www.evolution.com/news/evolution-launches-monopoly-big-baller/|title=EVOLUTION LAUNCHES MONOPOLY BIG BALLER, A BINGO-STYLE LIVE GAMES SHOW BASED ON THE WORLD-FAMOUS BOARD GAME}}
In 2023, Evolution introduced Funky Time, a 70s disco-themed live game show.{{Cite web|url=https://www.gamblinginsider.com/press/21222/evolution-launches-funky-time|title=Evolution launches Funky Time|website=Gambling Insider}}
In 2024, Kenneth Dart, a billionaire based in Cayman Islands, acquired a 5 percent stake in Evolution AB.{{Cite web|url=https://www.bloomberg.com/news/articles/2024-08-09/billionaire-dart-takes-5-stake-in-swedish-gaming-firm-evolution |title=Billionaire Dart Takes 5% Stake in Swedish Group Evolution |first=Charles |last=Daly |date=August 9, 2024 |website=Bloomberg}}
Games
Evolution AB is known for developing internet games such as Balloon Race and Lightning Storm. One of the most successful game of Evolution is Lightning 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.{{Cite web|url=https://www.livedealer.org/the-thing-with-playing-lightning-roulette/|title=The thing with playing Lightning Roulette | Livedealer.org|date=8 May 2018 }}
References
{{reflist}}
{{OMX Stockholm 30 companies}}
{{OMX Nordic 40}}
Category:2006 establishments in Sweden
Category:Companies based in Stockholm
Category:Companies listed on Nasdaq Stockholm