Yggdrasil Gaming, an entertainment software developer from Sweden, has recently revealed their financial results for the last quarter this year. Ever since their record performance at the beginning of the last year when their bet turnover increased by over 1,000%, the company has been on a constant path of growth. In the third quarter of this year, the results were also very impressive and there’s still no sign of decline.
Financial Results Of Yggdrasil Gaming In Q3
Every quarter of 2017 was successful to Yggdrasil Gaming so far and Q3 was almost as impressive as Q1. Last quarter, the company’s revenue had increased by 110% year-on-year up to 44.1 million Swedish kronor. Players have also used the company’s software more than twice as much: the number of player transactions increased by 132.6% year-on-year and has passed the mark of 1 billion.
During the third quarter this year, the company managed to increase their total revenue by kr18.7 million. That’s 42% increase in their revenue before all taxes and interest (EBITDA) for the period. Unsurprisingly, most of the income (59%) came from mobile players, a figure that keeps rising with each report. This increase isn’t huge, but it’s steady, which shows the company’s adaptability to the changes in industry and the demand as well.
Yggdrasil’s Achievements In This Year’s Third Quarter
To make sure that their growth is steady and uninterrupted, Yggdrasil continues to create new gaming software and solutions. They also plan to expand by opening new offices, looking for partners and business opportunities. All of that shows in this year’s third quarter, as the company managed to secure numerous deals and released new software too.
Ten different licence agreements were signed in this quarter with brands such as Betfred and SkillOnNet. Yggdrasil has also managed to enter a new market as a deal with Jackpotjoy Group opened the door to the Danish market. The company’s games also went live with the operator Gaming Reals and four additional game titles became available in the UK.
The last quarter was exceptional, because that’s when the company paid out its largest jackpot to date. Someone won €5.2 million on Empire Fortune progressive jackpot slot. Speaking of jackpots, another lucky player won a €3.5 million jackpot on Joker Millions soon after the quarter was over, but that will be reflected in the following Q4 report.
Finally, three new games were released during Q3. These include the highly successful Rainbow Ryan, Valley of the Gods and Jungle Books slots. Their newest product, Pumpkin Smash, came out just before Halloween as well, at the beginning of the last quarter of this year.
Overall, Yggdrasil continues to impress as each quarter report involves ever higher numbers of income and player transactions. One of the highest peaks the company has recently climbed is to claim the ‘slot provider of the year’ award. The company is a second year running winner of the award handed out at EGR B2B Awards 2016 and 2017.
The CEO’s Comment On Their Impressive Performance
Fredrik Elmqvist, the CEO of Yggdrasil, commented on the Q3 2017 financial period as being action-packed and successful as always. When speaking about ever-increasing numbers, he called it ‘a fantastic achievement which was only made possible by the hard work of the most dedicated and talented team in gaming.’
On several different occasions during his interview, the CEO stressed that their focus is on continuing the growth. The company employed 27 new members during this period and now has over 150 employees. New offices have also opened in Stockholm, Krakow and Malta. ‘Our focus remains on laying solid foundations,’ Elmqvist said. That’s ‘to ensure we can continue our growth trajectory off the back of these extremely strong results.’