Evolution AB used its fourth-quarter and full-year 2025 results update to emphasize longer-term positioning over short-term financial movement. Executives pointed to regulatory consistency as the main constraint on stronger growth, while maintaining that operational performance remains solid.
Management focused on product development, geographic reach , and compliance, alongside new disclosures detailing revenue from regulated markets based on player IP data.
Monopoly Content Roadmap Takes Center Stage
Evolution highlighted its exclusive partnership with Hasbro as a key driver of future momentum. The company plans multiple Monopoly-branded live and RNG titles as part of a slate of more than 110 games expected in 2026.
Chief executive Martin Carlesund described the upcoming releases, stating, “Normally, we state that we have one big showcase title… But this year, it is impossible to pick one. That’s how strong the lineup is.”
He said customer reaction at ICE Barcelona reflected the scale of the pipeline. “Everyone looks at the games and like, Wow, when are we going to get them?”
Planned launches include large-scale game shows and hybrid formats such as Game Night and Monopoly Filthy Rich. Some titles, including Monopoly Deluxe, are already available, with further releases expected in early 2026.
Regulated Revenue Disclosure And Regional Dynamics
For the first time, Evolution published a revenue breakdown based on players’ IP addresses. In the fourth quarter, player activity was estimated at 38% Asia, 35% Europe, 15% North America, 8% Latin America, and 4% Africa and other regions. Regulated markets accounted for 47% of revenue.
Management said the disclosure reflects heightened regulatory focus. “There’s a lot of focus on regulatory aspects and where players are coming from… and we feel that it’s important now to disclose and show this is our revenue… and to put a little bit of emphasis on that.”
In Europe, executives cited declining channelization despite strict compliance measures.
Asia continues to face cybercrime and regulatory pressure, although the Philippines showed improvement. “We have made some progress in the cyber crimes mitigation… the overall regulatory dynamics continue to be somewhat challenging…At the same time, we see good development in the Philippines where the regulatory framework is getting more stable.”
Americas Growth And Regulatory Matters
North America and Latin America posted record quarterly revenues, supported by studio expansion and the relaunch of Ezugi in the U.S. Carlesund said, “Live casino share has a lot of potential.”
The Galaxy Gaming acquisition remains on track pending final approvals. “The process is moving forward, and we are still within the timeline of closing before the 17th of July.”
Litigation with Playtech remains unresolved. “It has its due course… It’s continuous, and it’s always slow, and it will be with us for a while. There’s no material update.” The UK review is also unchanged. “We haven’t heard anything from the UK Gaming Commission since last summer… We don’t know when they will come back, but they have been very cooperative…”
Despite softer year-on-year fourth-quarter results, management reiterated its core message. “Just a stable environment. If we just could have a stable environment, solve a little bit continuously, meticulously get a little bit better in Asia. That’s it. No more, no less.”
Source:
“Highlights Year-End Report 2025”, evolution.com, February 5, 2026
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