Superior online and mobile casino games provider Yggdrasil Gaming has reported rapid growth for Q3, with revenue climbing 299% year-on-year to SEK21 million.
EBIDTA for the quarter shot up to SEK9.2 million, compared to SEK1.9 million in 2015, while EBIDTA margin amounted to 44%.
The number of players also grew dramatically during Q3, with the number of transactions increasing 427% to 438 million.
During the third quarter, Yggdrasil launched its social media sharing tool, BRAG, and also appointed Frida Gustafsson as CFO, which are of note in the company’s quarter performance.
Yggdrasil CEO Fredrik Elmqvist commented: “It has been yet another hugely successful and action-packed three months for Yggdrasil, and we now have a fantastic team in place that is fast establishing us as the industry’s number one online casino supplier.
“Yggdrasil remains in a phase of rapid expansion, as displayed by the quarter’s surging revenue growth. While the immediate results have been impressive, it is equally important that we lay the foundations for sustainable, long-term growth.”
He went on to say: “We are expected to continue growing much faster than the market and we will carry on investing in our business while also delivering results moving forward.”
He also noted the importance of expanding into regulated markets that Yggdrasil has undertaken, commenting: “Our commitment to regulated markets saw us acquire licences to provide our content to operators in Romania, where we will go live shortly.
“We are a relatively late mover in terms of regulated markets, but we are catching up fast, and will continue to enter regulated markets that make commercial sense.”