Yggdrasil is targeting the capture of further market share in the wake of second quarter results that show operating revenues increasing by almost two-thirds year-on-year for the igaming software provider.
With five new games launched during the period, including Yggdrasil’s first table game Sonya Blackjack, total operating revenues for Q2 2018 stood at SEK66.7m (£5.7m), up from SEK40.4m in Q2 2017. EBIT increased by eight per cent to SEK16.6m (SEK15.3m), with EBIT margin at 25 per cent (38 per cent).
Player round also increased in Q2, up 66 per cent from SEK801m a year earlier to SEK1.328bn.
Yggdrasil’s founder and CEO Fredrik Elmqvist said: “During the quarter we intensified our investment phase focusing on the organisation, product and business verticals.
“The second quarter has been active with the launch of Sonya Blackjack, the first game out in our new product vertical Table Games. We have also had a flying start for our YGS Masters programme and announced partnerships with two independent gaming studios. I look forward to welcoming additional world-class studios on a selective basis for strategic and mutually beneficial partnerships.
“I am immensely proud of the achievements made by the team and for the continued strong demand among both operators and end players.
“On the back of the second quarter performance I am excited by the opportunities lying ahead and believe conditions to be right for Yggdrasil to capture additional market share going forwards.
“We will continue to put full emphasis on growth and further quality enhancement initiatives targeting both our products and the business, ultimately paving the way for the future for the Yggdrasil Group.”
