Evolution Gaming History: From Startup to Global Live Casino Leader
From a single studio in Riga to a multi-billion euro global empire, this is the story of how Evolution redefined live gaming.
Evolution Gaming is universally recognized as the undisputed world leader in the live casino sector, sweeping top industry awards annually and being present in most major online casinos worldwide. Over nearly two decades, the company has journeyed from a modest startup to a corporation with a market capitalization in the billions of euros. This article details the key stages of the giant’s formation, its innovative products, and the strategy that led to its global success.
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Founding and First Steps (2006–2010)
Evolution Gaming was founded in 2006 in Sweden. In its early years, the company actively developed partnerships with other operators but soon chose a strategy of independent development.
A crucial step on this path was the opening of its own studio in Riga, Latvia. By 2009, demand for the company’s services was so high that the Riga studio was quadrupled in size to meet growing needs. This allowed Evolution to lay the foundation for its future—high-tech studios from which live dealers hosted real-time streams.
Expansion and Innovation (2011–2019)
This period was marked by the company’s active expansion into new markets and the introduction of revolutionary products.
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2011: Evolution Gaming became the first live casino provider approved by the regulatory authorities of Italy and Denmark.
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2014: Opening of a second studio in Malta, strengthening the company’s position in the European market.
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2015: Release of iconic games such as Caribbean Stud Poker, Baccarat Squeeze, and Immersive Lite Roulette.
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2016: The company made a breakthrough by starting broadcasts of Dual Play Roulette from land-based casinos like the Grosvenor Victoria Casino in London. This allowed online players to join those playing in the physical establishment, blurring the lines between offline and online gambling.
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2017: Evolution Gaming was listed on the Stockholm Stock Exchange, a major milestone in its financial development. This year also saw the company pioneer the Live Game Shows category with the launch of Dream Catcher.
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2018: A key acquisition of the company Ezugi took place, enhancing Evolution’s portfolio and accelerating its entry into new markets, including North and Latin America. The company also launched the award-winning Lightning Roulette and opened its first live casino studio in the USA, in New Jersey.
Pandemic, Rebranding, and Market Dominance (2020 – Present)
2020 was a pivotal year for the company. It not only successfully adapted to the challenges of the pandemic but also conducted a series of strategic deals that fundamentally strengthened its position.
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Rebranding: The company changed its name from Evolution Gaming to Evolution, signaling its expansion far beyond the gaming industry.
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Key Acquisitions: In 2020, Evolution absorbed the industry giant NetEnt and the developer Red Tiger. These deals allowed Evolution to become a full-scale provider of not only live casino games but also slots (RNG games).
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Entry into the US Market: The first live studios in the USA were opened, including in Michigan, New Jersey, and Connecticut.
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Ongoing Expansion: In subsequent years, the company continued to expand its global presence, opening studios in the Czech Republic (2024) and announcing launches in Brazil, Colombia, and the Philippines.
To this day, the Evolution group unites multiple brands, including Evolution, NetEnt, Red Tiger, Ezugi, Nolimit City, Big Time Gaming, DigiWheel, and Livespins, and continues to set trends in the industry.
Key Games and Technological Advantages
Evolution’s success is largely built on innovative and high-quality products. The company offers an extensive game portfolio, among which true hits stand out:
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Lightning Roulette: One of Evolution’s most recognizable games, combining elements of classic roulette and dynamic bonus rounds with multipliers. It has won numerous awards, including “Innovation of the Year” in 2018.
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Immersive Roulette: A game that set new standards for video broadcast quality in live casino, using slow-motion and multiple camera angles.
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Dream Catcher and Monopoly Live: These games heralded a new genre—live casino game shows, where players bet on a spinning wheel while participating in an exciting visual show.
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Crazy Time: An even larger-scale and more spectacular game show, recognized as the “Best Game of the Year” in 2024.
Technological advantages of Evolution include the highest video quality, the ability to play in a browser and on mobile devices, a multi-player game function (Multi-Game Play), as well as private and VIP tables for the most demanding clients. The company’s dealers undergo special training at the Evolution academy and speak dozens of languages, ensuring comfort for players worldwide.
Financial Growth and Industry Recognition
Evolution demonstrates impressive financial growth. While the group’s turnover was €115.5 million in 2016, operating income grew to €1.5 billion by 2022. The company is known for its high profitability and stable market position.
Recognition of Evolution’s leadership comes in the form of numerous awards. Most indicative is the series of wins in the prestigious “Live Casino Supplier of the Year” nomination at the EGR B2B Awards, which the company won for 12 years in a row—from 2010 to 2021. This trend continued in 2023-2024, with the company regularly receiving awards as the best provider and for individual gaming products.
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Conclusion
The history of Evolution is a benchmark example of how a focus on quality, constant innovation, and bold strategic acquisitions can lead a company to global leadership. Since its founding in 2006, Evolution has journeyed from a modest studio in Riga to a multi-billion dollar corporation defining the future of the online gaming industry. By uniting leading brands under its wing and continuing to expand its global presence, Evolution not only maintains but strengthens its number one position in the live casino market.