Online gaming group Yggdrasil has released their fourth quarter financial results, noting that revenues for the period surged 207% from the year prior.
The financials for the quarter ending December 31st, 2016 revealed:
- Revenues up 207% to SEK 31.8 million ($3.5 million)
- EBITDA up 42%
- Player transactions up 210% to SEK 633 million
- Mobile gaming makes up 51% of gross win margins
- Full year financials up 332% to SEK 86.9 million
- Full year EBITDA up 670% to SEK 40.1 million
Commenting on his company's results Yggdrasil CEO Fredrik Elmqvist said, "Yggdrasil Gaming continues to go from strength to strength during yet another quarter which has seen excellent growth, new operator signings, new games and new industry firsts. The figures for the quarter are particularly pleasing, with revenues up 207% and EBIT hitting a new quarterly high of SEK 9.3 million."
"I am delighted to report that we have the full confidence of our operator partners, in large part because they trust us to continue to deliver the innovations and games they require to keep their players engaged. We remain committed to doing things our own way. Yggdrasil White Label Studios, our strategic collaborative partnership program which was launched in Q3 2016, continues to make progress, and we now have two customers on board. We firmly believe it will transform the way slots are developed."