Yggdrasil Increases Revenues By 73% In Q1

Aggregators of online gaming content from Sweden, Yggdrasil Gaming, have published their Q1 report only to uncover an increase in revenues totaling exactly 73% or $6.54 million compared to last year’s $3.78 million during the same period. Even the winnings and player transactions have been increased by 90.2%, thanks to a successful growth of the company’s operations, partnerships and expansion projects. Similarly, in the past four months, three new games were released: Easter Island, Gem Rocks and Ozwin’s Jackpots.

After announcing entry into the table games vertical, as well as further strategy plans to enter Spain’s market through GVC deal, the company continued to extend by signing 9 license agreements. Earlier in March, Yggdrasil formed a partnership with Italian operators Lottomatica and Stanleybet, followed by a supply deal with Denmark’s bet25. The company’s operating profits have jumped by 29% even though a slight decline in margin is noticed due to the investments at London’s ICE event.

Among other highlights, CEO Fredrik Elmqvist, points out the first exclusive Yggdrasil White Label Studios game, Royal Family, that launched with LeoVegas. Furthermore, Northern Lights will be the company’s first partner at YGS Masters and Lucha Maniacs, an entirely new slot was also recently released, on April 24th. The group received solid feedback from customers during ICE and acquired the reward as the prestigious Innovator Supplier of the Year at the International Gaming Awards.

Elmqvist also commented that the conditions for continuous growth are stronger than ever. Operators, as well as players, have shown an enormous interest in the portfolio, in-game features and back-office tools, BRAG and BOOST. Both excited and impatient about business opportunities in the upcoming months, Elmqvist wishes to prioritize innovation and build the company upon its world-class offerings such as Source, iSense 2.0, but also blockbuster titles like Jungle Books, Reptoids, Orient Express, Rainbow Ryan and more.

Source:

“Yggdrasil Gaming Q1 2018 Update”, yggdrasilgaming.com, May 4, 2018.