Evolution Opens Its First Live Casino Studio in Brazil
Evolution has marked a significant milestone by launching its inaugural live casino studio in São Paulo, Brazil, expanding its presence in the rapidly growing regulated iGaming market. The studio’s opening follows the regulation of Brazil’s online gambling sector in January 2025, positioning Evolution as the country’s first licensed supplier under the new legal framework. This move underscores Evolution’s deep commitment to the Latin American market.
The studio is designed to cater to the distinct preferences of Brazilian players, offering several localised versions of popular casino games. These include Blackjack Clássico, Blackjack Illimitado, and Brazilian Blackjack, all of which are broadcasted in native Brazilian Portuguese. Additionally, the studio will feature global fan favourites like Crazy Time and XXXtreme Lightning Roulette, adapted for the local audience to ensure world-class entertainment with a Brazilian flair. Evolution’s flagship release, ICE Fishing, is also part of the line-up, customized for the Brazilian market and streamed directly from the new São Paulo-based studio.
Evolution’s Q2 Financial Performance: Moderate Revenue Growth Amid Profit Decline
In its latestQ2 Interim Report, Evolution revealed a modest increase in net revenue, which rose by 3.1%, totaling €524.3 million. Despite this positive growth in revenue, the company’s profits dipped by 7.7%, falling from €269.1 million in Q2 2024 to €248.3 million this quarter.
This mixed performance is attributed to several operational challenges, particularly in the Asian market, where the company is addressing issues such as cybercrime. Additionally, the ongoing regulatory challenges in Europe have impacted overall profitability. Despite the dip in profits, Evolution’s CEO, Martin Carlesund, reassured investors that the company remains aligned with its broader growth strategy. The company is confident it will meet its full-year EBITDA margin target of 66-68%.
Regionally, Evolution’s performance varied. Europe saw a 5.8% decrease in revenue, largely due to the ringfencing policy implemented following a UK Gambling Commission investigation into unauthorized access to Evolution’s games by illegal operators. On a positive note, the company saw a 3.6% revenue increase in Asia, with the launch of its first Asian studio in the Philippines further boosting its presence in the region. In North America, revenue grew by 22.8%, driven by new partnerships, particularly with Bally’s Corporation in Rhode Island.
Evolution Triumphs at EGR B2B Awards 2025
Alongside its financial performance, Evolution received major recognition at the EGR B2B Awards 2025. The company won two prestigious awards: Live Casino Supplier and Innovation in RNG Casino Software. These accolades acknowledge Evolution’s continuous innovation and leadership in game development, highlighting its ability to provide cutting-edge content and player engagement.
The company’s success is attributed to its unique hybrid game formats, which blend live dealer mechanics with RNG technology. With over 100 new releases this year, including titles like Crazy Time and Lightning Storm, Evolution continues to push the boundaries of the iGaming landscape. These awards serve as a testament to the company’s commitment to delivering innovative, high-quality gaming experiences to players around the world.
Source:
“Evolution Launches First Live Casino Studio in Brazil“, evolution.com, July 17, 2025
