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Yggdrasil Gaming Reveals Q1 Results
- May 16, 2018 By Riley Wilson -
Swedish developer of online and mobile games Yggdrasil Gaming has posted the latest financial report revealing a successful first quarter of 2018.
The numbers released show the positive trend, with revenues and earnings marking a significant boost.
Revenue on the Rise
Yggdrasil has generated €5.5 million in revenue in the first quarter of this year, which represents an increase of 73% when compared to the corresponding period of 2017.
The company’s EBITDA recorded a jump from €1.26 million in the first quarter of 2017 to €1.75 million in the first three months of 2018.
When it comes to EBITDA margin, a slight drop from 40% to 31% was reported during this period, but according to the company’s Chief Executive Officer and founder, Fredrik Elmqvist, this decline was accounted for by the additional investment at London’s ICE trade show, as well as costs taken in conjunction with the ongoing expansion of the business.
In addition to this, the total player number of game round recorded an impressive 90.2% jump on a year-on-year basis to 1,333 million.
New Partnerships and Games
A number of new partnerships and plans have also marked the first quarter of 2018. According to available information, Yggdrasil has signed nine new licensing deals during this period, along with two new partnership agreements with renowned Italian-based companies.
The operator has also expanded its impressive portfolio in the first few months of 2018 with the launch of Gem Rocks, Ozwin’s Jackpots, and Easter Island, with more new releases scheduled to hit the market in the coming period. A new slot game called Lucha Maniacs has also been added to the company’s lineup.
Commenting the Q1 report, Elmqvist emphasized the company had its eyes set on regulated markets as well and added Yggdrasil was in the process of acquiring a Spanish gaming license to go with the licenses they already had in Denmark and Italy.
During the Q1 of the current year, Yggdrasil has announced its entry into the table games market, with a brand-new, in-house developed technological framework called REDUX, which combines the best aspects of live and RNG casino, promising an immersive gaming experience in a fully 3D environment.