Fantasma Games has made a “great start to Q2” after “impressive financial figures” for the first three months of the year caused much optimism for the slots developer.
This has seen Fantasma eye a continued global uptick throughout the remainder of the year, after making its initial US manoeuvre early this week following a start to the year that saw the group record its highest month in terms of gaming revenue.
With net sales posting a 349 per cent year-on-year increase to SEK 4.8m (£388,569) from SEK 1.1m, Fantasma reports that gaming revenue closed the quarter at SEK 4.1m (£331,903), a 279 per cent uptick from SEK 1.1m. EBITDA during Q1 narrowed to a loss of SEK 574,000 (2021: -SEK 655,000).
September 2021’s acquisition of Wiener Games is said to have “paid dividends during the quarter”, with the studio contributing SEK1.9m (£152,792) in net sales.
“This has started off great for Fantasma Games achieving net sales of SEK4.8m during the three months,” explained Fredrik Johansson, Founder of Fantasma Games.
“This is a testament to the hard work and dedication that the Fantasma team puts in day in and day out in order to achieve our goal of creating slots beyond gambling and delivering thrilling, exciting and highly entertaining experiences to players.
“It has also been a significant quarter in terms of new operator partnerships, chart-topping game launches and entering new markets.
“We have already made a great start to Q2, with a new all-time high with the double gross game revenue in April, and I for one look forward to keeping pushing ahead now that we have tremendous momentum behind us.”
The studio aligned its performance to the launch of Medallion Megaways in February, via Relax Gaming’s Silver Bullet platform, which it said surpassed all pre-launch expectations and helped drive gross gaming revenue to SEK 38m (2021: SEK 20m).
Furthermore, a slew of commercial tie-ups, alongside the likes of Entain, Gamesys and Veikkaus, were built upon at the quarter’s end via an alliance with BetMGM Casino platform in Michigan and West Virginia.
“Right now, our strategy for continued growth is primarily focused on launching games in the US and Italy, in order to continue to take important market shares,” stated Johansson.
“In the US, the games are launched exclusively with one of the largest operators, BetMGM, which remain exclusive for four weeks and are then ready to be launched to other leading operators in the regulated states in the US.
“In Italy, an exclusive launch is now taking place with one of the leading operators, PokerStars. The fact that leading players in the US and Italy want to launch our games exclusively is proof that our games are world class, and that they are expected to deliver in relation to market demand.
“Overall, we see great opportunities to both strengthen Fantasma Games’ brand and continue our growth journey as a result.”