Record Performance For Yggdrasil Gaming In Q3 2017
Yggdrasil Gaming has announced the results for the third quarter of this year, revealing a staggering year-on-year increase in revenue of 110%.
In addition to rising in revenue, the Malta-based provider of online and mobile casino games has recorded record earnings before interest, tax, depreciation, and amortization (EBITDA) for the three-month period ending on September 30.
Numbers Going Up
Quarter revenue reached $5.3 million dollars, while EBITDA was at $2.2 million. Last year, the corresponding period was finished with EBITDA of $1.1 million, with revenue of $2.5 million.
Earnings before interest and tax also recorded an increase, almost tripling from $700,000 to $1.8 million. A number of player transactions went up as well, surpassing one billion at the end of the quarter, for a total rise of 132.6%. Mobile game has grown during this quarter, accounting for 59% of the total gross game win.
Yggdrasil Gaming Chief Executive Officer Fredrik Elmqvist said the latest result was a fantastic achievement, made possible by the hard work of the company’s f the dedicated and talented team of employees
He credited the increase in traffic to Yggdrasil’s games as the main driving force behind this growth, with 10 new licensees, including the UK-based Betfred.
Focus On Growth
Elmqvist stated the company’s focus remained on solid foundations to ensure the growth trajectory could continue in future.
During the third quarter, Yggdrasil hired 27 people, while the number of employees reached 170 at the end of September.
During the third quarter, Yggdrasil hired 27 people, while the number of employees reached 170 at the end of September. In addition to new signings, the company expanded its office space in Poland and Malta and opened a new one in Stockholm.
Elmqvist said Yggdrasil would remain focused on spurring further growth.