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NEWS 10 November 2016

“Surging revenue growth” hailed as Yggdrasil records impressive Q3

By Tom Lewis
Yggdrasil Gaming has reported rapid growth for Q3, with revenue climbing 299% year-on-year to SEK21m.

EBITDA for the period shot to SEK9.2m, compared to SEK1.9m in 2015, while EBITDA margin amounted to 44%.

Player numbers also grew in similarly dramatic fashion, with the number of transactions increasing 427% to 438m.

Also of note in Yggdrasil’s third quarter performance is the launch of its social media sharing tool, BRAG, as well as the appointment of Frida Gustafsson as CFO.

Fredrik Elmqvist, CEO of Yggdrasil, said: “It has been yet another hugely successful and action-packed three months for Yggdrasil, and we now have a fantastic team in place that is fast establishing us as the industry’s number one online casino supplier.

“Yggdrasil remains in a phase of rapid expansion, as displayed by the quarter’s surging revenue growth.

“While the immediate results have been impressive, it is equally important that we lay the foundations for sustainable, long-term growth.

“We are expected to continue growing much faster than the market and we will carry on investing in our business while also delivering results moving forward.”

Elmqvist also noted the importance of the expansion into regulated markets that Yggdrasil has undertaken: “Our commitment to regulated markets saw us acquire licences to provide our content to operators in Romania, where we will go live shortly.

“We are a relatively late mover in terms of regulated markets, but we are catching up fast, and will continue to enter regulated markets that make commercial sense.”

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