Yggdrasil Gaming announces impressive growth in their 2016 Q4 report
Superior online and mobile casino games provider Yggdrasil Gaming has today updated the financial market with their Q4 performance for 2016. According to the report, revenues for the period increased drastically by 207 percent year-on-year to SEK 31.8 million compared to the Q4 in 2015 which was SEK 10.4 million.
EBITDA for the period more than doubled to SEK 13.2 million from the SEK 4.9 in 2015 with the EBITDA margin for the period amounting to 42%. EBIT for the period also increased to SEK 9.3 million.
Emerging as one of the industry’s most respected and acclaimed suppliers since their launch in 2013, they have been providing games for some of the world’s biggest operators. Last year saw them releasing three new games: Empire Fortune, Super Heroes and Vikings Go Berzerk. During the past year, Yggdrasil Gaming saw their number of player transaction grow by 210 percent year-on-year to 633 million with mobile gaming now at 51 percent of their total gross game win.
Along with 10 new licence agreements that were signed, including with Tain, Gaming Innovation Group, SuprNation and Lottoland, Yggdrasil Gaming also launched industry-first gamification tool Missions. To top that off, they also paid out the largest ever progressive jackpot of €3,291,513.
Their continued new business development initiative such as the Yggdrasil Dragons, promotions and launches of new titles like Alchymedes and new appointments that has headlined the gaming news earlier namely the two senior appointments with Andrew Pegler named chief commercial officer for Gibraltar and Krzysztof Opalka promoted to chief product officer, has Yggdrasil Dragons on top of their game for further success.
Fredrik Elmqvist, CEO of Yggdrasil commented on their success: “Yggdrasil Gaming continues to go from strength to strength during yet another quarter which has seen excellent growth, new operator signings, new games and new industry firsts.
The figures for the quarter are particularly pleasing, with revenues up 207 percent and EBIT hitting a new quarterly high of MSEK 9.3.
When we founded Yggdrasil in 2013, we had a very clear mission to become the industry’s best games supplier, and we continue to make rapid progress towards this goal.
While we may be an underdog compared to some of the industry’s titans, we are now very much established as a force in this sector.”
Elmqvist concluded: “I am delighted to report that we have the full confidence of our operator partners, in large part because they trust us to continue to deliver the innovations and games they require to keep their players engaged.”
“It would be an understatement to say this an exciting time for Yggdrasil. The growth in recent years has been fantastic, but more importantly, we have laid the foundations to build a sustainable, world-class gaming supply that will continue to push this industry forward.”
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