YGGDRASIL ON A ROLL IN Q1-2016
13th May, 2016 at 09:22:04
Swedish games developer racks up the numbers.
Swedish online gambling games provider and Cherry subsidiary Yggdrasil Gaming has released an impressive set of Q1 2016 results, highlighting:
* Q1 revenues up 519% y-o-y to SEK 14.2 million;
* EBITDA at SEK 7.9 million (Q1 2015: SEK -0.4 million);
* EBIT at SEK 5.5 million (Q1 2015: SEK -1.9 million);
* Bet turnover up 1,085% year-on-year to SEK 3,560.2 million;
* Number of player transactions up 922% to 317.1 million;
* Mobile gaming accounted for 45% of the total gross game win (Q1 2015: 17 percent);
* The company has achieved licensing and gone live in the UK with six operators;
* Content supply deal signed with bet365
, one of the world's largest operators;
* Released three new games: Incinerator, Golden Fish Tank and Seasons;
Chief executive Fredrik Elmqvist commented on the results:
"Yggdrasil has kicked off 2016 with strong, mainly organic growth from existing customers and a number of exciting deals, launches and awards.
"We are already live with six operators in the UK and there will be more to follow in the coming months. It is certainly a very competitive market, and it is still early days, but early indications are encouraging.
"Elsewhere on the regulatory front, our Gibraltar licence is waiting for final approval
Related News Tags: Gibraltar, Sweden, Cherry