Yggdrasil Gaming Announces 73% Revenue Rise in Q1 2018

Staff Writer New Casinos & Games, Yggdrasil 1,277

The Swedish-based online and mobile software developer Yggdrasil Gaming announced a performance report for the first quartal of 2018 which revealed some strong numbers that arrive as a firm proof of great business over the past period.

Operation Boost Behind Impressive Increase

Yggdrasil Gaming boasts a 73% rise in year-on-year revenue numbers, the company’s Q1 2018 report states.

Total revenue in the same period in 2017 stood at $3.78 million which is a stark contrast to this year’s $6.54m. Reasons for such a grandiose boost in numbers are lying behind the company’s scale of operations which went through a massive improvement over the past year.

During the first three months of 2018, Yggdrasil Gaming came forward with three exciting new game titles – Ozwin’s Jackpots, Gem Rocks and Easter Island. Simultaneously, the company launched the new studio partnership program – YGS Masters – which is expected to bring an additional boost to the company’s booming finances.

“An invite-only, semi-open platform, YGS Masters will enable us to curate content from the world’s leading independent games studios and distribute via our platform.”, Yggdrasil Gaming CEO Frederik Elmqvist said.

At the same time, the total of 9 new licence agreements were signed, including two new partners in Italy – Lottomatica and Stanleybet. Yggdrasil Gaming also made ambition plans for the forthcoming period which are to include entering the Spanish market through a GVC deal, and an entry in to the table games vertical.

Strong Numbers

The aforementioned operation highlights oversaw a 61% rise in mobile gross game winnings and no less than a 90.2% rise in the number of player transactions which stood at 1,333 million.

Yggdrasil Gaming’s operating profits rose by 29% to $1.57 million. A year-on-year EBIDTA went from $1.51 million to $2.05 million with the EBIDTA margin increasing by 31%.

Frederik Elmqvist is convinced the strong numbers will have laid a solid foundation for the company to move forward in an even stronger pace.

“I believe the conditions are right for continued strong growth ahead. We see strong interest in our games and in-game promotional tools among both operators and end players. I am very excited regarding the opportunities laying ahead, and we will continue to prioritise growth and build upon our world-class offering.”, he concluded.

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