No Drag: Robust Q2 and H1 Mark Yggdrasil AscendancePublished September 3, 2017 by Lee R
There is no spike in sight for the benefits of upwardly trending Yggdrasil performance.
The latest Yggdrasil update shows a promising and robust H1 has just concluded.
Highlights of the report released by the Swedish gaming supplier revolve around revenues for Q2 jumping 103 percent year-on-year to MSEK 40.4 (19.9). That quarterly growth was supplemented by 44% gains in EBITDA to MSEK 18.0 (9.8).
Player activity was up 84 percent year-on-year to 801 million player transaction rounds, with important mobile gaming growth increasing to 56 percent of total gross game win.
More Q2 Drivers
Other drivers of growth for the quarter include the Yggdrasil expansion into Italy via client operator GVC Brands; the four new game offerings of Power Plant, Sunny Shores and Spiña Colada and exclusive Betsson offering Trolls Bridge; the hiring of a full-time CTO and CSO for the first time; the forte addition of 14 new licence agreements signed with new client operators; and the technological innovation of a revamped version of its trademark iSENSE 2.0+ platform.
As for H1 overall, Yggdrasil highlights include revenue increases of 116 percent to MSEK 73.8 (34.1); a 76% jump in EBITDA to MSEK 31.2 (17.7); and a 42% jump in EBITDA margin.
H1 Player Activity
H1 patronage showed a 99% jump in player transaction rounds to 1.5 billion rounds, playing a total of 7 new games from Yggdrasil.
William Hill joined the Yggdrasil fold in H1 2017.
Groundbreaking New Program
Yggdrasil execs also found the time to launch a unique new business initiative to facilitate and foster mutually beneficial partnerships amongst entrepreneurs and gaming businesses.
As for H1 industry recognition, Yggdrasil the Innovator of the Year crown at the 2017 International Gaming Awards.
H1 Technological innovation
Yggdrasil also released ground-breaking game technology in Fusion Realms™.
Yggdrasil CEO Fredrik Elmqvist could not have been more pleased, saying he was “I thrilled to report further impressive growth as we continue to reap the benefits of our long-term strategy.”
With Yggdrasil continuing to expanding into and invest in new markets, the Swedish powerhouse’s expansion strategy appears ready to continue paying dividends for some time to come.