Investment in live casino studios is accelerating as suppliers respond to regulated market growth, rising mobile play and operator demand for more localised content.
Evolution, the largest specialist supplier in the segment, generated €434.9m from live casino in Q1 of 2026, representing almost 85% of group net revenue. Live casino revenue was slightly lower than a year earlier but remained the main source of earnings for a business.
The company completed the acquisition of a second live casino studio in Argentina during the quarter, with €27.6m invested in group acquisitions. Evolution also said it required additional studio capacity in Brazil and Colombia after LatAm revenue rose 29.3% year-on-year.
The expansion has followed regulated market openings. Evolution launched its first Brazilian studio in São Paulo in July 2025, offering Portuguese language Blackjack tables and locally adapted versions of international games. The supplier entered Brazil as a licensed provider when the regulated online market opened in January 2025.
North American capacity is also increasing. Evolution completed construction of a second Michigan studio during the first quarter, with the facility later opening in Grand Rapids. Michigan iGaming gross receipts reached a then record $278.5m in October 2025, according to the Michigan Gaming Control Board. The regulator’s figures do not separate live casino revenue from other online casino products.
Mobile devices generated 76% of operator GGR through Evolution’s platform during Q1, up from 72% a year earlier. The company says live casino continues to increase in importance within online casino, even though random number generated games remain the larger segment across the wider market.
Current investment is centred on additional tables, local language presenters and studios inside regulated jurisdictions. This allows suppliers to meet local licensing requirements while giving operators content tailored to domestic audiences.
