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Swedish casino game developer Yggdrasil Gaming has announced the release of their first quarter 2018 financial results, bringing in revenues that were up 73% from the year prior.
Corporate highlights for the quarter ending March 31st, 2018 were:
-Revenues for the period increased by 73% year-on-year to MSEK 57.6 (Q1 2017: 33.3) -FX tailwinds affecting revenue development positively and growth in local currency EUR was 65% year-on-year -EBITDA for the period increased to MSEK 18.1 (13.3) -The EBITDA margin for the period amounted to 31% (40) -EBIT for the period increased to MSEK 13.8 (10.7) -Number of player transaction (rounds) increased by 90.2% year-on-year to 1,333 million -Three new games were released: Ozwin's Jackpots, Gem Rocks and Easter Island -9 new licence agreements were signed including bet25.dk and two new partners in Italy, Lottomatica and Stanleybet -Mobile gaming 61% of total estimated gross game win -Announced entry into the table games vertical -Announced plans to enter Spain with a GVC deal -Launched the new studio partnership program, YGS Masters -Previewed table games at ICE Totally Gaming at a spectacular new stand -Crowned Innovator of the Year for the second time in row at the International Gaming Awards -Notable events after the quarter -First exclusive Yggdrasil White Label Studios game, Royal Family, launched with LeoVegas -Northern Lights signed as the first partner to join Yggdrasil's YGS Masters -One new slot game was released, Lucha Maniacs
Commenting on his company's performance, CEO Fredrik Elmqvist 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 laying ahead, and we will continue to prioritise growth and build upon our world-class offering."