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Yggdrasil Gaming Q1-2016

Friday, May 13, 2016 : YGGDRASIL ON A ROLL IN Q1-2016
 
Swedish games developer racks up the numbers.
 
Swedish online gambling games provider and Cherry subsidiary Yggdrasil Gaming has released an impressive set of Q1 2016 results, highlighting:
 
* Q1 revenues up 519 percent y-o-y to SEK 14.2 million;
 
* EBITDA at SEK 7.9 million (Q1 2015: SEK -0.4 million);
 
* EBIT at SEK 5.5 million (Q1 2015: SEK -1.9 million);
 
* Bet turnover up 1,085 percent year-on-year to SEK 3,560.2 million;
 
* Number of player transactions up 922 percent to 317.1 million;
 
* Mobile gaming accounted for 45 percent of the total gross game win (Q1 2015: 17 percent);
 
* The company has achieved licensing and gone live in the UK with six operators;
 
* Content supply deal signed with bet365, one of the world’s largest operators;
 
* Released three new games: Incinerator, Golden Fish Tank and Seasons;
 
Chief executive Fredrik Elmqvist commented on the results:
 
"Yggdrasil has kicked off 2016 with strong, mainly organic growth from existing customers and a number of exciting deals, launches and awards.
 
"We are already live with six operators in the UK and there will be more to follow in the coming months. It is certainly a very competitive market, and it is still early days, but early indications are encouraging.
 
"Elsewhere on the regulatory front, our Gibraltar licence is waiting for final approval – the aim remains to go live in Q2. And we continue to investigate other regulated markets.
 
"From a games perspective, we launched three new and innovative slots during the quarter – Incinerator, Golden Fishtank and Seasons – and also received certification for six games in the UK and Gibraltar. Six more will be certified for both jurisdictions before the end of Q2.
 
"Our team had grown to 65 people by the end of Q1, up from 45 as recently as December. We’ve managed to fill a number of key positions in recent months, including our first CFO and General Managers for Poland and Chief Commercial Officers for the new business operation in Gibraltar.
 
"Looking forward, we plan to continue to develop BOOST, our collection of in-game promotional tools, which has become an integral part of many operators’ marketing strategies. On that note – watch out for the commercial launch within our network of customers of the new in-game promotional tool, ‘Casino Cash Race’, during the opening match of the European Championships in June.
 
"We see huge potential when it comes to innovation across the fields of retention and engagement, and will be adding to our gamification features later in the year,” Elmqvist concluded.

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Gambling News :

Oryx in deal with Extreme Live Gaming - #oryx Turnkey provider ORYX has selected Extreme Live Gaming for the integration of a number of Live Casino titles to its games platform.

GAN Partners with Station Casinos - B2B online gaming company GAN (formerly Game Account Network) has revealed Station Casinos as its previously unidentified partner in an announcement made August 2016

Tipbet Sponsor of easy Credit Basketball Bundesliga for season 2016/2017 - #tipbet The agreement comes with good timing; the BBL basketball 2016/17 season started last Friday, ensuring that Tipbet benefits from high visibility for its brand presence at the games.

Oceanís Call Slot Launches - Online gambling games developer Habanero has embarked on a journey across the high seas to bring players its latest HTML5 high resolution slot title, Oceanís Call.

Big Names Playing WCOOP - The big names came out to play in the closing stages of the World Championship of Online Poker this week as major prizes were handed out in a number of exciting and entertaining competitions.

Should Gibraltar and Britain be regarded as a single state under EU gambling laws? - The issue has been referred to the ECJ by the High Court with the question "should the UK and Gibraltar be treated as a single member state when it comes to EU law on remote gambling?"

Sirplay to Open Argentina Branch - #SirPlay expects the new office to be fully operational by early next year, extending its service to Grupo Slots, which holds a license to operate the provincial San Luis Lottery, and other potential LatAm clients.

DFS Changes for Ohio - #dfs Coley says that at present DFS is an example of the "pools for profit" concept, the rules for which the state Attorney General has opined are unclear in relation to DFS.

New Jersey Teams Up With Kahnawake Gaming Commission - The New Jersey Division of Gaming Enforcement and the Kahnawake Gaming Commission have agreed to collaborate in preventing unlicensed online operators from accepting bets from New Jersey and other U.S. states through the Continent 8 data centre situated on tribal land, according to reports Tuesday from the Associated Press news agency.

Petition to Ban Online Gaming in Singapore - Singapore Pools and Singapore Turf Clubís application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.

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