Evolution

What the company does

Evolution was founded in 2006 on a proposition the industry was sceptical about: that players would prefer a real dealer on a video stream to a software table. It built physical studios, hired and trained dealers, and solved the broadcast engineering, and live casino became the fastest-growing part of the online casino product.

Its second contribution was the game show format. Titles built around a large wheel or a physical prop, hosted by a presenter and playable by an unlimited number of players simultaneously, broke the one-table one-seat constraint of traditional casino games and brought in an audience that did not play blackjack or roulette.

Through acquisition the company also became one of the largest slot suppliers: NetEnt and Red Tiger in 2020, Big Time Gaming in 2021, Nolimit City in 2022, alongside the live supplier Ezugi in 2018. That makes Evolution unusual in holding a near-dominant position in one product category and a strong position in another, and its market share has been raised in regulatory and competition discussions in several jurisdictions.

Where this sits in the supply chain

Businesses that run physical studios where dealers host games streamed to players in real time. The product is part broadcast operation and part casino floor, and it carries a cost structure closer to television than to software.

All companies filed under live casino