Evolution launches Ezugi as second US live dealer brand
Oct 08 • 2025
About Organisation
Brief Overview
Evolution AB (publ) is one of the leading B2B providers of live casino solutions for online operators. The Swedish company trades on Nasdaq Stockholm (EVO) with a market capitalisation of approximately €15.6 billion.
- Founded: 2006
- Employees: 21,673 (as of Dec 2024)
- Revenue (2024): €2.064 billion
- Business Model: B2B software provider
Mission and Business Focus
Evolution develops integrated online casino systems and operates through two key segments:
- Live Casino: Live dealer games, game shows (primary revenue driver)
- RNG Games: Online slots and table games (acquired brands)
Company History & Founders
Year Founded and Evolution
| Year | Milestone |
| 2006 | Company founded in Sweden |
| 2015 | IPO on Nasdaq First North |
| 2017 | Moved to Nasdaq Stockholm main market |
| 2020 | Acquired NetEnt for €1.9 billion |
| 2021 | Purchased Big Time Gaming for €450 million |
| 2022 | Bought Nolimit City for €340 million |
Key People / Founders
- Founders: Jens von Bahr, Fredrik Österberg, Richard Hadida
- CEO: Martin Carlesund
- CFO: Joakim Andersson
Licensing & Regulatory Info
Active Gaming Licenses
| Region | License | Status |
| Europe | Malta Gaming Authority (MGA/B2B/187/2010) | Active |
| UK | UK Gambling Commission (#41655) | Active (under review Dec 2024) |
| Nordics | Sweden, Denmark | Active |
| EU | Belgium, Bulgaria, Romania, Spain | Active |
| USA | New Jersey, Pennsylvania, Michigan, Connecticut, West Virginia, Rhode Island, Delaware | Active |
| Canada | Ontario, Quebec, British Columbia, Alberta | Active |
| Other Markets | Curacao, International Licenses | Active |
Regulatory Bodies & Compliance Measures
- Certified and tested by third-party labs
- Approved across 20+ regulated jurisdictions
- Focus on compliance, AML, and responsible gambling
- Recent fines: $15,000 (Pennsylvania, 2024)
Offices & Headquarters
Main Office Locations
| Headquarters | Hamngatan 11, SE-111 47 Stockholm, Sweden |
| Largest Studio | Riga, Latvia |
| European Hub | Malta (300+ employees) |
| Studio | Tbilisi, Georgia |
| North America | Vancouver, Canada; New Jersey, USA |
Global Reach
- Studios in 20+ locations across 4 continents
- 1,600+ live tables in operation
- Recent expansions: Philippines (2025), Czech Republic, Colombia
Business Partnerships
Platform and Software Providers
- Scientific Games Open Gaming System
- SoftGamings unified API
- EveryMatrix platform
- NuxGame aggregation
- SYNOT Interactive
Operator & Affiliate Networks
- Major Clients (800+): FanDuel, DraftKings, BetMGM, William Hill, 888 Casino, bet365, Flutter Entertainment, Evoke plc
- Key Partnerships: Hasbro Games (multi-year, 2025), NetEnt integration, Big Time Gaming Megaways™
- Ownership: Public company – Kenneth Dart (16.55%), Österbahr Ventures AB (10.57%), Capital Group (9.54%)
Contact Details
Company Address
- Corporate HQ: Evolution AB (publ), Hamngatan 11, SE-111 47 Stockholm, Sweden
- Investor Relations: Available via official website
Email / Phone
- Website: www.evolution.com
- Phone: +46 (0)8-4404660 (Stockholm office)
- LinkedIn: linkedin.com/company/evolution-global-inc
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