Sweden's Evolution bets online casinos will outstrip physical venues

FILE PHOTO: Keyboard, cards, chips, dice are seen in this illustration picture, June 5, 2020. REUTERS/Dado Ruvic/Illustration/File Photo

STOCKHOLM (Reuters) - Swedish gambling technology company Evolution is betting online casinos will increasingly replace physical venues and help to maintain its rapid recent expansion.

Evolution shares have jumped 170% over the past year, boosted by growing demand for online casinos during lockdowns, pushing its market value up to 314 billion crowns ($38 billion) compared with less than 3 billion when it listed in 2015.