Yggdrasil Gaming Continues its 2016 Rise with Strong Third Quarter

Yggdrasil Gaming has revealed a long list of highlights in its financial reporting for quarter three (Q3), which ended on 30 September 2016. In recent months, the software developer has been extremely active in releasing new video slots such as Double Dragons and Legend of the White Snake Lady, while existing game Joker Millions paid out the company’s highest-ever jackpot at €2.9 million.

299% Revenue Increase

The headline statistic is that Yggdrasil generated revenue of SEK21 million £2.12 million during Q3 2016, which represents an impressive 299% increase on Q3 2015. Another key finding from the revenue is that mobile gaming accounted for 54% of the quarterly takings, and this demonstrates how mobile is now the preferred option for many players.

Continuing with the topic of players, Yggdrasil had more positive news to share. Compared to Q3 2015, the developer managed to increase its player base by a staggering 427% to reach 438 million. And what aided that growth was Yggdrasil’s ability to strike new licensing agreements with leading gaming operators.

Yggdrasil’s Expansion Efforts

Moving forward, it appears Yggdrasil will have more opportunities for growth, having targeted Romania as part of its expansion efforts. After obtaining two remote gaming licences, Yggdrasil will now be permitted by the Romanian regulator to offers its igaming software in the country.

Yggdrasil also used its financial reveal as an opportunity to share new innovations. First up is BRAG, which is a tool that lets players share their wins via social media. And the next is White Label Studios, a project where Yggdrasil will combine with operators to create new slot game content, starting in summer 2017.

For the future, Yggdrasil Gaming CEO Fredrik Elmqvist revealed that the company would aim for long-term growth, but that expansion efforts would be rapid. In Q4 2016, the company expects for the positive results to keep coming.