Fantasma Games has reported net sales of SEK4.8m ($470,000) for the first quarter of 2022, a 349% increase from the first quarter of 2021.

The developer reported SEK4.1m in gaming revenue for the period, a 279% year-on-year increase, while total gaming sales increased 61% to SEK2.8m. Gaming profit meanwhile climbed 81% to SEK38m.

As noted by the group, a key factor behind such growth was the launch of Medallion Megaways in February, via Relax Gaming’s Silver Bullet platform, with the game “surpassing all pre-launch expectations.”

Fantasma added that integrations with operators such as Entain, Gamesys and Veikkaus also contributed.

“Fantasma Games started the year with its best-ever month in terms of gaming revenue and that has been followed by two more strong months,” a statement from the company read.

“Other highlights during Q1 include becoming to sign the innovative streaming platform Livespins, plus launching a portfolio for social gaming with one of the fastest-growing players in the market.”

Fantasma Games Founder Fredrik Johansson commented: “This is a testament to the hard work and dedication that the Fantasma team puts in day in and day out in order to achieve our goal of creating slots beyond gambling and delivering thrilling, exciting and highly entertaining experiences to players.

“It has also been a significant quarter in terms of new operator partnerships, chart-topping game launches and entering new markets. We have already made a great start to Q2, with a new all-time high with the double Gross Game Revenue in April, and I for one look forward to keeping pushing ahead now that we have tremendous momentum behind us.”