Evolution has temporarily closed its live casino studio in São Paulo following Brazil's prohibition on fixed-odds betting, adding a new operational consequence to the country's regulatory reversal. The supplier said the facility can reopen at short notice if the legal position changes.
The closure was disclosed alongside Evolution's third-quarter report. Net revenue increased 3.7% year over year to €526.1 million, while adjusted EBITDA rose 2.7% to €345.9 million and produced a 65.8% margin.
Latin American revenue grew 23.1% from the previous year, but the quarter ended before Brazil's suspension took effect in early October. Evolution estimates that Brazil accounts for well below half of regional revenue when measured by player IP and expects momentum elsewhere in Latin America to offset part of the disruption.
During the earnings call, chief executive Martin Carlesund criticised the abrupt change but kept the group's full-year margin guidance unchanged. iGaming Business reports that the company is monitoring court and political developments while supporting affected employees.
