Yggdrasil has had a very strong first quarter, showing growth across all sectors, especially when it comes to number of player rounds, which increased by 90.2%.
Yggdrasil, an online casino games and solutions developer, has been making the name for itself over the past few years, successfully competing with many larger and more experienced players in the industry. The company has recently released their Q1 report for the current year, and the numbers are showing this positive trend continues in 2018 as well.
Growing Revenues and Player Numbers
When compared to Q1 of 2017, Yggdrasil's revenue has increased by 73% in Q1 of 2018, standing at 57.6 MSEK (around €5.5 million). The company's EBITDA has increased from 13 million to 18.1 million SEK. The EBITDA margins has experienced a decline from 40% to 31%, but Fredrik Elmqvist, the company's CEO and founder, explains this was due to investments in this year's ICE and expenses connected to ongoing expansions.
Looking at Yggdrasil's presence in the market, the player involvement has skyrocketed. The total number of player transactions (game rounds) in Q1 of 2018 stood at 1,333 million, which represents an impressive 90.2% year-on-year increase.
New Partnerships and Expansions Plans
The first quarter of 2018 was also an important one for Yggdrasil in terms of new partnership and future plans. In total, Yggdrasil signed nine new licensing deals as well as two new partnership agreements with Italian companies.
Of course, the company has continued producing games and the first few months of 2018 saw them launch three new slots, Gem Rocks, Ozwin’s Jackpots, and Easter Island. This trend continued into the Q2 as Yggdrasil has already presented one new game for this quarter, called Lucha Maniacs.
In the statement accompanying the Q1 report, Elmqvist explained that the company has its eyes set on regulated markets as well and they are in the process of obtaining a Spanish gaming license to go with the licenses they already have in Denmark in Italy.
Finally, during the Q1 of 2018 the company has announced their entry into the table games market with new technology called REDUX, promising a fully immersive 3D environment combining the best elements of RNG and live dealer casinos.
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