(AsiaGameHub) –   Evolution recorded largely steady performance in Q1 2026, with net revenue hitting €513 million— a 1.5% year-over-year decrease— as currency challenges and increasing costs counterbalanced sustained demand for its offerings.

EBITDA for the quarter ending March 31 stood at €335.3 million, marking a 1.9% drop, and the margin edged down slightly to 65.4%. Total profit was €251.9 million, marginally lower than the €254.7 million reported the previous year, though earnings per share climbed from €1.24 to €1.26.

Revenue from live casino operations decreased to €434.9million from €448.7 million, whereas RNG revenue rose to €78.2 million from €72.3 million.

The company noted that its online casino products enjoy consistent demand, as shown by recent game launches and ongoing expansion efforts. Conversely, operating expenses forfor the quarter reached €220.4 million— an increase from the prior year— driven by higher staff costs, new standalone studios, andadditional gaming tables. In the preceding quarter, Evolution opened its second studio in Latvia, expanded into Argentina, and addressed cyber-related problemsproblems impacting Asia.

Europe continued to be the biggest geographic market; however, North America and Latin America saw faster growth rates. MobileMobile users contributed 76% of the total gross gaming revenue (GGR) from Evolution’s platform for operators, while regulated (government-overseen) markets collectively made up around 48%of total revenue.

CEO Martin Carlesund said:

Asia saw 2.2% quarter-on-quarter growth— the second straight quarter of expansion in the region. Latin America (LatAm) posted robust 29.3% year-on-year growthgrowth.The obvious letdown this quarter was Europe. After a weak finish to 2025, the region dropped another 5.9% quarter-on-quarter. The primary causes are regulatory instability and subjectivity, which directly affect playerplayer engagement.

Addressing ongoing challenges, including legal disputes with Playtech and cyber threats, Carlesundundadded:

As an Evolution shareholder, you know full well that we’ve encountered multiple challenges over the last few years— from shifting regulatory landscapes to cybercrime and underhanded efforts by competitors to damage our business. I want to emphasize two points: First, at Evolution, we never back down. We stand for our beliefs, do what’s right, and keep moving forward. While this might cause some short-term pain, our cost-effective operations, discipline, and incredible, hardworking team give us the strength to remain patient and focused on building long-term value. Second, we never lose sight of the core priority: Player satisfaction and enjoyment! The provider that offers the content players desire will ultimately come out on top.