Online casino content developer Yggdrasil Gaming has praised a “tireless focus on expansion and strategic business development,” in addition to a commercially active 12 months as the company reports its latest set of financials.
One large plus point for the organisation is the launch of its new vertical YGS Masters, which collaborates with independent studios to develop and distribute gaming content on its own platform.
Rabcat, Northern Lights and Fantasma Games became the first adopters during 2018, subsequently being joined by Avatar UX and 4ThePlayer thus far since the turn of year.
Fredrik Elmqvist, CEO and founder of Yggdrasil, who launched 18 new games included its first branded title in Nitro Circus, said of YGS’s success: “YGS, together with our own offering, enables us to provide the best games and end player user experience in the industry. I am thrilled on the outcome of these initiatives, and how they will support us in creating synergies with our current product portfolio and in-game promotional tools”
Yggdrasil, who sealed 11 new licence agreements during the year, saw operating revenues rise 53 per cent in Q4 to SEK 78.5m from SEK 51.2m, helping boost FY figures to SEK 274.2m, a 62 per cent jump on 2017’s SEK 169.1m.
EBIT for the quarter rose 13 per cent to SEK 19.8m (2017: SEK 17.5) representing a margin of 25 per cent (2017: 34 per cent), helping it total for the 12 month period to SEK 69.5m, an 18 per cent boost on SEK 58.8m, with a 25 per cent margin (2017: 35 per cent).
Elmqvist added: “2018 also marks as a commercially active year with entry into new markets and the signing of 48 new customers – more than any year before! We continue to focus on locally regulated market environments and push for global expansion.
“We have signed several notable customers during the year including Paf, Veikkaus, 888 in addition to Svenska Spel and ATG as part of the Swedish re-regulation. Despite a more competitive and complex market environment, with a regulatory landscape changing at a faster phase than ever before, we have been successful in capturing further market share.
“We believe this is the ultimate proof of our concept and clearly demonstrates that our business is in the game for the long run. I also believe the on-going regulation trend is positive, on the back of increased barriers to entry and an overall improved market quality, with a more responsible approach among industry stakeholders yielding a safer player environment, and a larger addressable market.”