Yggdrasil Gaming revenue rises 73% in Q1 2018

Revenue totalled $6.54m compared to $3.78m during the same period in 2017. The growth was driven by an underlying increase to the company’s scale of operations. This was reflected by a 61% rise in mobile gross game winnings and a 90.2% jump in the number of player transactions.

These solid improvements helped the company’s operating profits jump by 29% to $1.57m as well as increasing EBITDA year-on-year from $1.51m to $2.05m.

Yggdrasil are looking to continue to grow their operations having signed nine license agreements during Q1 2018, including bet25.dk and two new partners in Italy, Lottomatica and Stanleybet. The company has also recently announced plans to expand into Spain through a deal with GVC.

Commenting on the results Fredrik Elmqvist, CEO and founder of Yggdrasil, said: “I believe the conditions are right for continued strong growth ahead. We see strong interest in our games and in-game promotional tools among both operators and end players. I am very excited regarding the opportunities lying ahead, and we will continue to prioritise growth and build upon our world-class offering.”

Stay updated with GI

Follow Gambling Insider for independent news, analysis and industry expertise.

Add as a preferred source on Google

Harrison Sayers

Gambling Writer

Harrison Sayers is a journalist and editorial professional specialising in the gambling and iGaming sector. He began his career at Gambling Insider, where he served first as Editorial Assistant (July 2017 – November 2017) and then as Staff Writer from March 2018 to October 2018, contributing news coverage and industry analysis to both the publication’s digital and print channels.

Since then, he has continued his career in gambling regulation and compliance journalism, working with GamblingCompliance and VIXIO where he covers regulatory issues and industry developments across European and African jurisdictions.

Visit Profile