CEO Martin Carlesund has admitted Evolution was “caught a little bit off guard” by the technology used by criminals committing cyberattacks against the supplier in Asia.
The company’s efforts in the region have been hit by cyberattacks, including the hijacking of its video streams since the tail end of last year.
The live casino giant first reported the Asia cyberattacks in its Q3 2024 earnings presentation, with the ongoing ripple effect continuing to impact operations.
Carlesund has been quick to point out that Evolution is not the only firm to face such issues, nor is igaming the only industry.
His assessment came during an earnings call following the release of Evolution’s Q2 2025 results, which documented that despite the ongoing challenges, Asia remains the supplier’s most lucrative market.
During the three months ending 30 June, Asia returned revenue of €209.1m (£180.8m), representing year-on-year (YoY) growth of 3.6%.
A new live casino studio in the Philippines, the company’s first in the region, was also opened.
However, when pressed for comment on whether Evolution plans to implement new measures to combat the threat of cybercrime or continue its current course of action, Carlesund compared the situation to illegal sports streaming.
“The situation now is not new and it’s not only us,” he said. “It’s been going on for years, for example, in sports when you want to see the Champions League and you go onto a site and pay €15 and then you watch the game and it’s actually been stolen. You have that everywhere.
“To actually protect your intellectual property, your innovation and your Champions League stream that you bought for a lot of money, you need to continuously do a lot of technical measures as the internet evolves, you need to do that.
“We were caught a little bit off guard with the technology that they were using to steal our stream and now we are gaining traction with the actions that we take and protect it.”
Carlesund echoed a similar sentiment in Evolution’s Q2 earnings report, in which he stressed the need for patience before the situation is resolved.
“As we have stated before, it will take time, patience and resources but, as we deploy new measures constantly, we are starting to reap some benefits,” the CEO added.
“The revenue for the region is back to growth and we remain very cautiously optimistic for the remainder of 2025.
“We remain fully committed to ensuring that we receive payment for our innovations and our dedication to providing groundbreaking games to the market.”
Meanwhile, Evolution’s total revenue amounted to €524.3m, marking a 3.1% YoY rise, though Carlesund conceded he was “not satisfied” with the performance.
EBITDA suffered a marginal fall, sitting at €345.3m, down from the €345.8m posted in the corresponding period in 2024.
In other cyberattack news, Flutter Entertainment confirmed Paddy Power and Betfair customers’ data had been compromised in a recent hack.
Bad actors stole account holders’ usernames, emails and contact info during the breach.
The post Evolution was “caught off guard” by cybercriminals’ tech in Asia first appeared on EGR Intel.
CEO Martin Carlesund states the problems facing the supplier in the region are “not new”, with cybercrime continuing to impact other companies outside the igaming industry
The post Evolution was “caught off guard” by cybercriminals’ tech in Asia first appeared on EGR Intel.