16 years have passed since the launch of Evolution Gaming, a company that grew into a major online casino game developer and iGaming industry benchmark. Today, it has nine major studios and more than 2,000 dedicated tables, full mobile compatibility, and live streaming of casino games to desktop computers. It has a strong focus on R&D, with the result that fresh concepts outside the realm of traditional live casino games are gaining popularity and the brand is often referred to as "game creators and game changers".
As part of its efforts to drive innovation, Evolution Gaming is always looking for new opportunities. For instance, the company was among the first in the industry to introduce real money wagering on live dealer table games, a feature that allowed players to place bets using their smartphone or tablet. The company also has a unique system of dedicated dealer cameras that allow players to choose their preferred view and even zoom in on the cards during a game.
This unique approach has led to Evolution launching innovative products that are now available at leading online casinos, including immersive first-person RNG casino games and game shows, which let players feel as though they are sitting in front of an offline slot machine or roulette wheel. Monopoly Live Casino, Deal or No Deal and Crazy Time Casino all enjoy massive popularity with players at the top Evolution gaming casinos.
Unlike many other software developers, Evolution is a B2B operator that offers its games through partnerships with casino operators. It sets up and operates live-streamed gambling rooms, licensing the software and tables to companies such as DraftKings (DKNG 2.67%) or Penn National Gaming (PENN -0.41%). The company makes a profit through the 10% take rate it charges to casino customers. It also collects fixed fees for dedicated tables and commission on winnings generated by players at those tables.
While the company has a strong presence in Europe, its most recent milestone was the opening of its US-based studio in Atlantic City in 2018. This first purpose-built live casino studio in North America allows Evolution to offer New Jersey licensed and regulated online casinos access to the company's games. It's a move that could help Evolution expand its presence in the lucrative US market and boost revenue streams at the same time.
Evolution also boasts a wide range of live dealer games that are fully optimized for mobile devices. This includes blackjack, baccarat and roulette. The firm's games are all licensed and regulated by the most reputable gaming authorities, including the Malta Gaming Authority, UK Gambling Commission and Curacao.
Although Evolution's reputation is still intact, the allegations from New Jersey tarnish the company's image and could prompt regulators to focus more closely on the business. This is not the image that Evolution wants to project in its new markets, where it is already working hard to reassure investors. Nevertheless, the company has launched an internal investigation into the matter and it remains to be seen how the situation will play out.
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