Yggdrasil posted a Q2 characterised by strong growth and continued expansion, and CEO Frederik Elmqvist spoke publicly about what this means for the mobile and online casino solution provider.
Key Elevated Activity
Increased activity was seen in the increase of player rounds from 66% from Q2 last year to peak revenues at MSEK 66.7 for growth of 65%.
With offices in Malta, Sweden and Gibraltar, the Yggdrasil CEO Frederik Elmqvist characterised the quarter as an “intensification of the investment phase” stimulating organization, product and business verticals, ultimately resulting in EBIT profitability of MSEK 16.6 at a 25% margin.
New Product Launches
Key product launches in Q2 featuring Yggdrasil’s groundbreaking in-house technologies such as motion capture client framework platforms included Sonya Blackjack, Vikings Go to Hell, and Tut’s Twister.
Masters Program Launched
The Yggdrasil’s Masters program got off to a promising start as well, with new partnerships from two independent gaming studios setting the groundwork for a myriad of world class studios and selected partners to further shape development in the future.
Yggdrasil’s burgeoning market position was underscored in Q2 by taking home the prestigious “Innovation in RNG Casino Software” award at June’s EGR B2B Awards.
Managing Future Growth
Looking forward, Elmqvist is “excited” about the emerging market conditions, which he feels will favourably position the company for capturing additional market share in the near- and mid-term.
Elmqvist identifies growth and enhancement initiatives as areas of emphasis for Yggdrasil products and business as the roadmap for future development.
Further Q2 highlights included the signing of 13 new licence agreements; the launching of a total of 5 new games; 243 FTEs, and a signing with leading Czech operator Tipsport that enables Yggdrasil to enter the Czech Republic market.
The future looks bright for the diversifying innovative company, with Elmqvist leading an elevation to what looks to be shaping into a boutique approach to gaming solutions and products for fast-rising Yggdrasil.