Yggdrasil Boasts Growth in Q3
After quite a notable second quarter of 2018, supreme online content supplier Yggdrasil Games is boasting even grander numbers for the quarter number three.
Third Quarter Expansions
The company’s growth strategies have paid off and the revenue has increased significantly. The period brought a 62% rise to SEK 71.5m (€6.8m), whilst EBIT (Earnings) has grown by 26% year-on-year and reached SEK 19.3m (€1.8m), in comparison to the same period in 2017, which totalled 15.3m (€1.4m). The FY figures amounted to SEK 195.8m (€18.8m), which a 66% increase. Nevertheless, the margin has decreased to 27% compared to the last year’s 35%.
Money-bringing Deals
The success is partly due to the strategic partnerships the firm had established in the past three months. Penning contracts with the Nordic ATG and Svenska Spel before the 2019 shift in Swedish law regulation has been key in Yggdrasil’s business strategy. Many other suppliers ad operators like Evolution Gaming and NetEnt followed the steps.
Fredrik Elmqvist, Yggdrasil CEO and founder, highlighted entering the Taiwanese market just as important. In addition, Yggdrasil has signed a deal with Czech Tipsport, Italian Intralot, became certified in Spain, struck a supply deal with Åland Islands-based operator Paf, leading iGaming software provider EveryMatrix, and Genting Casino UK.
Q4 Is Already Looking Good
After the close of the quarter, Elmqvist said, the firm will sign a deal with Finnish Veikkaus, further expanding its influence in Europe. “We continued to fully emphasise our expansional focus by making investments for the future, both in the business and into new products,” the CEO added.
As for other plans for the following 3 months, Yggdrasil is focusing on its YGS Masters program.
Manchester and Stockholm-based Northern Lights has already joined the team, and the developer is focusing on growing within the UK market in the last quarter of 2018. Elmqvist wrapped up his speech with, “We continue to put full emphasis on growth and making investments into the organisation to stay at the forefront as a true industry innovator and to pave the way for our continued journey.”
PINTEREST
LATEST POST
Nolimit City Enters Austria Via win2day Partnership
· April 12, 2024
Spin Rio & Play’n GO Deliver a $75,000 Spring Eggspedition
· April 03, 2024
Big Time Gaming Launches Fireworks Megaways Online Slot
· March 27, 2024
Enjoy March Madness with VegasLand and Grab $15,000 Wager-Free Prizes
· March 22, 2024
EXCLUSIVE SIGNUP BONUSES
BestCasinos team consists of online casino experts dedicated to spreading their knowledge and experience to a wider audience, all in effort to help even the most inexperienced players gain their footing in this exciting industry.