Yggdrasil Gaming Releases Q3 Results
The report is highlighted by a 110% increase in revenues.
Yggdrasil Gaming, creator of several popular online casino titles such as the Empire Fortune progressive slot, has released its Q3 financial results. The report is highlighted by a 110% increase in revenues. In addition, the company had a EBITDA of $2.5m, a margin of 42%.
“As is always the case at Yggdrasil, it has been an action-packed quarter as the company continues to build upon the significant progress we have already made,” CEO Fredrik Elmqvist said in a statement posted to Yggdrasil’s corporate website.
Players Flocking To Yggdrasil
Explaining the reason for the strong Q3, Elmqvist highlighted the increased number of players across the internet currently spinning the reels on Yggdrasil slots. In Q3, the company’s Empire Fortune slot paid out a progressive jackpot of more than $5m, and it’s Joker Millions title also paid out a huge jackpot worth $4m as well. With players enjoying so much success, its little wonder more and more of them are frequenting the company’s properties.
“This growth has been driven by an increase in traffic to our games. During the third quarter the number of rounds has increased by 132.6 percent versus last year, while we have also added 10 new licensees, including Betfred,” Elmqvist said.
Yggdrasil Continues To Grow
Flush with success in recent years, Yggdrasil is one of the fastest growing companies in the online casino world. It released three new games in Q3 — Rainbow Ryan, Valley of the Gods, and Jungle Books — to add to an ever growing portfolio of hugely popular titles. In just a few short years, the company went from one of the lesser known brands to a full fledged industry powerhouse.
With these latest results, Yggdrasil continues to exhibit the determination and ambition that makes it such a success story; moving forward into 2017, the company seems poised to continue its metric rise. And if it can continue the huge growth numbers its seen in the last few years, it certainly appears as though the sky is the limit.
“During September, we held an annual kick-off meeting in our Krakow office where we laid out a conditional roadmap that will form the basis of our 2018 strategy. The meeting was attended by a significantly bolstered management team that positions us well for the demands that our rapidly-growing company now faces,” Elmqvist said.