Evolution reported net revenue of €513.0m for the first quarter of 2026, marking a 1.5% decline compared to the same period last year, while EBITDA fell 1.9% to €335.3m, maintaining a margin of 65.4%.
Despite the slight drop in reported revenue, the company noted underlying growth of 6.8% at constant currency, pointing to foreign exchange pressures as a contributing factor.
Did performances across regions vary significantly?
Latin America was the standout, delivering 29.3% year-on-year growth.
The company also confirmed the acquisition of a live casino studio in Argentina following a competitor’s exit, alongside plans to expand studio capacity in Brazil and Colombia to meet rising demand.
In North America, growth improved compared to the previous quarter, reaching 10.1% in euro terms and 21.4% in local currency. Evolution also completed construction of a second studio in Michigan, expected to launch in the coming months, while recent regulatory developments in Maine and Alberta were flagged as positive signals for future expansion.
Asia showed modest recovery, with 2.2% quarter-on-quarter growth, marking a second consecutive period of improvement as the company continues efforts to address cybercrime-related challenges.
Europe, however, weighed on overall performance
Revenue in the region declined 5.9% quarter-on-quarter, with CEO Martin Carlesund citing regulatory volatility and declining channelisation as key factors impacting player activity.
“We also continue to face a material disadvantage from our self-imposed ring-fencing measures, which, as stated several times before, is the right long-term path even though the short-term price is high. Overall, channelisation in Europe is decreasing and it is bad for the impacted countries, the players and the industry as such.”
Looking ahead, Evolution pointed to its content roadmap as a driver of long-term growth, including its global partnership with Hasbro to integrate the Monopoly brand into its portfolio.
“We never lose sight of what really matters: player satisfaction and entertainment! There is no way around that the one supplier with the content that players want is the one that will win in the end,” stated Carlesund.
Evolution recently launched its Monopoly Live game show in Connecticut, marking the title’s first entry into the US market
