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Game provider · Online casinos · 3 min read

Evolution: the live casino studio, explained

Who Evolution is, what it owns, the live games it is known for and where its tables are licensed, with every company fact sourced.

By Hub of Luck Editorial Team

Updated 20 Oct 2026

Last reviewed 14 Oct 2026 against the sources listed below

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Evolution makes the live dealer tables and game shows you see at most large online casinos. Dealers and hosts work from real studios, and you bet through an online interface. The company also owns several slot studios, which makes it one of the biggest content suppliers in the industry.

Evolution at a glance

Founded 2006 (Annual Report 2025)
Headquarters Stockholm, Sweden (parent company)
Listing Nasdaq Stockholm, large cap segment
Brands Evolution, Ezugi, NetEnt, Red Tiger, Big Time Gaming, Nolimit City, Sneaky Slots, Tap-A-Roo
Malta Evolution Gaming Malta Limited: MGA critical gaming supply licence MGA/CRP/187/2010/01 (licence list, MGA register)
Great Britain UKGC account 41655, Evolution Malta Holding Limited: remote gambling software and casino game host activities listed as active (UKGC register)
Canada AGCO registrations (Ontario), AGLC (Alberta), IGCO (British Columbia) and Nova Scotia (lottery equipment for Atlantic Lottery Corporation); in Quebec, an AMF authorisation to contract with a public body (licence list)
United States New Jersey DGE, Pennsylvania PGCB, Michigan MGCB, plus Connecticut, Delaware, Rhode Island and West Virginia (licence list)

What Evolution makes

Evolution's core product is live casino: roulette, blackjack, baccarat and other tables streamed from studios. Its 2025 annual report puts the total at about 2,000 tables, with main production studios in Riga (Latvia), Tbilisi (Georgia) and Fort Mrieħel (Malta).

Evolution also says it invented the online live game show category with Dream Catcher, a money wheel game, in 2017. Game shows mix a live host with random multipliers and bonus rounds.

Its First Person range is made up of random number generator (RNG) recreations of its live and game show titles, played without a dealer. Through acquisitions, the group also supplies online slots from NetEnt, Red Tiger, Big Time Gaming and Nolimit City.

How the group was built

  • Ezugi, a live casino brand, bought in 2018.
  • NetEnt, bought in 2020. NetEnt had itself bought Red Tiger in 2019, according to NetEnt's 2019 year-end report.
  • Big Time Gaming, bought in 2021.
  • Nolimit City, bought in 2022.

Dates are from Gambling Insider's acquisition timeline. The current brand list is from the annual report.

Notable games

  • Lightning Roulette. Standard roulette, plus one to five randomly chosen "lucky numbers" each round, with lucky payouts of between 50x and 500x. It launched in 2018. (Gambling Insider)
  • Crazy Time. A money wheel game show launched in 2020 and based on Evolution's Dream Catcher money wheel. The wheel has four bonus spots, Cash Hunt, Coin Flip, Pachinko and Crazy Time, and each one leads to its own bonus game. (Evolution press release)
  • Dream Catcher. The original live money wheel from 2017. You bet on the number the wheel will land on.
  • MONOPOLY Live and MONOPOLY Big Baller. Game shows based on the board game, made under a licence from Hasbro. The annual report says Evolution became Hasbro's exclusive partner for online live casino and slot games based on MONOPOLY.
  • First Person games. RNG versions of live titles such as roulette and blackjack. You can play them alone at your own pace.

Multipliers make the rare big result possible, but they do not remove the house edge. Every game show and live table returns less than you stake, on average. Check the payout table and RTP in each game's help screen before you play.

RTP versions

Evolution's public pages and annual report do not say whether its live games come in several return-to-player (RTP) versions. Our RTP and volatility guide explains why it matters. Each game's help screen shows the RTP of the version at that casino, so check it there.

Where Evolution's games appear

Evolution lists supplier licences or registrations in each market below. In Ontario it went live on the first day of the regulated market, 4 April 2022, with the Evolution, NetEnt and Red Tiger brands (press release).

For the studios Evolution owns, see NetEnt, Red Tiger, Big Time Gaming and Nolimit City. For other live casino suppliers, see Pragmatic Play and Playtech. All studios are listed on our providers page. For how live tables work, read live dealer games.

Play it safe

Gambling is entertainment that costs money, not a way to make it. Decide your budget before you start, use the deposit limits every licensed site offers, and stop when it stops being fun.

Free, confidential help where you live

Questions people ask

Who owns Evolution?

Evolution AB is a public company listed on Nasdaq Stockholm, so it is owned by its shareholders. The parent company is based in Stockholm, Sweden.

Does Evolution own NetEnt?

Yes. Evolution bought NetEnt in 2020, and its 2025 annual report lists NetEnt, Red Tiger, Big Time Gaming and Nolimit City among the group's brands.

Is Evolution licensed in the UK?

Yes. The UK Gambling Commission register shows Evolution Malta Holding Limited (account 41655) with active remote gambling software and casino game host activities.

Are Evolution's live games rigged?

Live games use real equipment filmed in studios, and Evolution holds supplier licences from regulators such as the Malta Gaming Authority and the UKGC. Every bet still carries a house edge, so the casino keeps a share of stakes over time.

Where are Evolution's studios?

Its main production studios are in Riga, Tbilisi and Malta. In North America it runs studios in New Jersey, Pennsylvania, Michigan, Connecticut and British Columbia, according to its 2025 annual report.

Sources

Facts checked 14 Oct 2026. Compliance review 14 Oct 2026.

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