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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 :

2017 MPN Poker Tour - Main Event packages, worth €1,500, are available online and players can qualify via any of the MPN participating card rooms through a variety of satellites, with buy-ins starting as low as €0.25. Each €1,500 package includes:

Realistic Games in deal with Kindred Group - The UK-based online gambling games developer Realistic Games has signed a deal to supply its games to online operator Kindred Group, parent company of quality brands that include Unibet, Stan James and Maria Casino.

Opposition to Anti Online Gambling Bill in Congress Lame Duck Session - Action groups appeal to House Appropriations Subcommittee to ensure that RAWA style language is not attached to unrelated spending bill.

DFS banning bill Introduced in Illinois - The legislative season in Illinois may be drawing to a close, but that hasn't stopped a new bid to ban daily fantasy sports from being assigned to the House Executive Committee; whether there is sufficient time to pass the bill is a matter for speculation.

Cambodia To More Closely Control Online Gambling - Cambodia, where online #gambling is operated by licensed land casinos alone, and Cambodian punters are banned from participating, is to tighten monitoring, control and management of the activity by setting up a centralized server, a Ministry of the Economy official revealed this week in a media interview.

Jimei group distances itself from his Philippines activities - The move followed news that the Philippines authorities have issued a warrant for Lam's arrest on charges of economic sabotage and attempted bribery, according to local media reports. His investor visa privileges have already been withdrawn.

South Africa Land Casino Owners Still Feel Online Gambling is a Threat - The latest annual report of the #Casino Association of South Africa, a trade association for most of the country's land casino operators, continues to cite online gambling

Spinomenal Appoints Eduardo Tupper as COO - Israeli software developer, Spinomenal, has appointed former chief operating officer of Ortiz Gaming, Eduardo Tupper, as Senior Vice President.

Ninja Power Slot Launched By Slotland - I think our players will be inspired by the ninja warrior characters the game designers have created,” said Slotland manager Michael Hilary. “These warriors fought hard, gave it all they had. Quitting wasn’t an option.

WILL JACK LAM RETURN TO THE PHILIPPINES TO TURN HIMSELF IN? - The Philippines online gambling and bribery scandal keeps throwing up new developments almost daily, with the latest a report that Macau-based online gambling tycoon - the man at the centre of the furore - has put out tentative "surrender" feelers.

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