Yggdrasil Gaming Reveals an Impressive Revenue Rise in Q2
The leading developer of online gambling content Yggdrasil Gaming has posted its financial results for the second quarter of the year, revealing impressive figures and a strong growth.
According to available information, the Malta-based company recorded a staggering 65% rise in revenue when compared to the corresponding period of 2017.
A Great Quarter for the Company
What can’t speak can’t tell a lie, and the numbers clearly indicate that the three-month period ending on July 31st, 2018, was an excellent one for the renowned firm. Operating revenues jumped to $7.3 million, while the half-year figures recorded an even bigger year-on-year increase of 67% to $13.6 million.
When it comes to other important financial indicators, the company’s earnings before interest, taxation, depreciation, and amortization (EBITDA) went up by 8% during the year’s second quarter, reaching $1.82 million. This increase was much bigger for H1 – 17% or $3.3 million.
The second quarter of 2018 was very busy for Yggdrasil Gaming, especially in terms of signing new deals and expanding the company’s extensive portfolio.
During the quarter, the renowned software supplier inked a total of 13 new licensing agreements, while at the same time launching 5 new games. The list of new releases includes Penguin City and the new hit title Sonya Blackjack.
Numbers say player rounds have gone up by 66% during this period.
CEO Is Very Pleased
Commenting on the latest results, Yggdrasil Gaming’s founder and Chief Executive Officer Fredrik Elmqvist said the company was once again able to present another eventful quarter characterised by strong growth and further expansion for its online gaming operations.
Elmqvist added he was excited for the opportunities that lay ahead for his company and stated he was also confident that the conditions were perfect for the firm to claim an additional market share in multiple regulated jurisdictions going forward.
He also pointed out the most important areas of focus for Yggdrasil would include key vertical growth, leading game releases, and leading innovation.
Elmqvist stated the company had also launched a number of new blockbuster titles during the quarter including Vikings Go To Hell, the third game in the highly appreciated Vikings series, and most recently Tut’s Twister.
It should be noted that Yggdrasil’s market position has been further underlined by receiving the prestigious “Innovation in RNG Casino Software” award at the EGR B2B Awards in June.
We can assume the company has an ambitious expansion plan, especially since it announced a new deal with betting operator Tipsport earlier this month. The agreement will allow the software supplier to enter the Czech online gambling market, which will no doubt impact its revenue streams in the coming period.
In addition to this, Yggdrasil has also signed a deal with the GVC brand to increase its presence in Spain.
Yggdrasil Gaming was founded in 2013 and quickly established itself as the leading supplier of online and mobile gaming software and premium products. Today, the company provides gaming content to some of the world’s leading operators including 888, LeoVegas, bet365.com, Betsson, MRG, Bwin, William Hill, Unibet and Lottomatica.