Yggdrasil Revenues Skyrocket as Company Eyes Further Expansion
It has been a great start to the year for online casino software developers Yggdrasil, one of world’s leading providers of top-notch casino content.
Rise in Numbers
Figures recorded in the first quartal of 2017 point towards significant rise which has seen the company’s revenues increase by 134% to SEK 33.3 million. The company’s Earnings before interest, taxes, depreciation and amortisation (EBITDA) recorded a year-on-year increase of 68% amassing to SEK 13.3 million. Additionally, EBITDA margin for the given period soared to 40%.
Even by the high standards we have set ourselves at Yggdrasil, 2017 has kicked off with an incredibly busy and productive first three months. Revenues continue to rise, and profitability (EBITDA) has exceeded SEK 13m.”, Yggdrasil CEO, Frederik Elmqvist, Yggdrasil CEO.
The most prominent increase was recorded in the number of player transactions, which Yggdrasil report have climbed to 701 million, which is a 121% increase to a year before. Additionally, Yggdrasil Gaming’s total gross game win saw a huge increase in mobile gaming which currently stands at 52.3%.
Organisational Changes Bring Results
Yggdrasil started the year with organisational alterations on both the ordering and supplier side of the operation, which made sure the company set the proper foundations for results that ultimately matched Yggdrasil’s ambition.
One of the most prominent operational highlights for the three-month period at the beginning of 2017 was the launch of Yggdrasil Dragons which opened up company’s technical framework and licensing infrastructure to new entrepreneurial partners.
Additionally, February saw Yggdrasil Gaming roll out the new game mechanic Fusion Realms, whereas another operational highlight also included signing of 10 new license agreements which linked the company to the likes of William Hill and Bwin in the Italian market.