Evolution (Buy, TP: SEK1750.00) - New Game Shows in focus for Q2
According to our tracker, Evolution’s daily average players increased 8% QOQ in Q1 (82% YOY) driven by Baccarat, probably a testament to strong Asia, we believe. We forecast Q1 Live revenue +7% QOQ (consensus at 5%) implying 35% growth YOY. In Q2, Evolution is set to launch two key new Game Shows, which could strengthen the category even further. The company continues to perform well versus competitors, according to our data.Evolution Gaming Group AB (publ) is a Sweden-based company active in the Internet services sector. It develops, produces, markets and licenses integrated business-to-business (B2B) live casino solutions for gaming operators. Its solutions allow a live table gaming by streaming of professional croupier services to end users via the online casino and gaming platforms. The Company has offices and production studios in the United Kingdom, Sweden, Malta, Italy, Spain and Latvia.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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