Evolution (Buy, TP: SEK1750.00) - Solid start to ‘Funky Time’
According to our tracker, Evolution’s daily average players have increased by 4% QOQ so far in Q2 (59% YOY) driven by Baccarat and Roulette. Roulette has returned to a growth path, rising 6% QOQ so far in Q2 after declining in Q1. Evolution’s new game show ‘Funky Time’ was launched with select Evolution clients on 10 May, and is showing promising early performance with nearly c2,000 daily average players ahead of the full launch later in the month (24 May). We also note that in Q1, reported Live revenue growth YOY converged with our tracker growth 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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