Posts

Yggdrasil Gaming announces impressive growth in their 2016 Q4 report

Superior online and mobile casino games provider Yggdrasil Gaming has today updated the financial market with their Q4 performance for 2016. According to the report, revenues for the period increased drastically by 207 percent year-on-year to SEK 31.8 million compared to the Q4 in 2015 which was SEK 10.4 million.

EBITDA for the period more than doubled to SEK 13.2 million from the SEK 4.9 in 2015 with the EBITDA margin for the period amounting to 42%. EBIT for the period also increased to SEK 9.3 million.

Emerging as one of the industry’s most respected and acclaimed suppliers since their launch in 2013, they have been providing games for some of the world’s biggest operators. Last year saw them releasing three new games:  Empire Fortune, Super Heroes and Vikings Go Berzerk. During the past year, Yggdrasil Gaming saw their number of player transaction grow by 210 percent year-on-year to 633 million with mobile gaming now at 51 percent of their total gross game win.

Along with 10 new licence agreements that were signed, including with Tain, Gaming Innovation Group, SuprNation and Lottoland, Yggdrasil Gaming also launched industry-first gamification tool Missions. To top that off, they also paid out the largest ever progressive jackpot of €3,291,513.

Their continued new business development initiative such as the Yggdrasil Dragons, promotions and launches of new titles like Alchymedes and new appointments that has headlined the gaming news earlier namely the two senior appointments with Andrew Pegler named chief commercial officer for Gibraltar and Krzysztof Opalka promoted to chief product officer, has Yggdrasil Dragons on top of their game for further success.

Fredrik Elmqvist, CEO of Yggdrasil commented on their success: “Yggdrasil Gaming continues to go from strength to strength during yet another quarter which has seen excellent growth, new operator signings, new games and new industry firsts.

The figures for the quarter are particularly pleasing, with revenues up 207 percent and EBIT hitting a new quarterly high of MSEK 9.3.

When we founded Yggdrasil in 2013, we had a very clear mission to become the industry’s best games supplier, and we continue to make rapid progress towards this goal.

While we may be an underdog compared to some of the industry’s titans, we are now very much established as a force in this sector.”

Elmqvist concluded: “I am delighted to report that we have the full confidence of our operator partners, in large part because they trust us to continue to deliver the innovations and games they require to keep their players engaged.”

“It would be an understatement to say this an exciting time for Yggdrasil. The growth in recent years has been fantastic, but more importantly, we have laid the foundations to build a sustainable, world-class gaming supply that will continue to push this industry forward.”

 

Are you a startup? Then apply for the SiGMA Startup Pitch 2017 and meet hungry investors. View Startup Pitch 2016 gallery here.

 

NetEnt records increased revenue end of 2016 thanks to UK market

Leading provider of premium digitally distributed gaming systems to the world’s most successful online casino operators NetEnt announced that its full year sales for 2016 increased by 28.5% to a record SEK1.5 billion (£130.8 million/€153.7 million).

Their operating profit for 2016 totalled SEK356m which is an increase of 33.4% from 2015. The company stated that the UK turned out to be the biggest regional market in December for the first time.

NetEnt indicated that its mobile gaming business was a big driver of sales growing by 43% in the last quarter of 2016. The company expects further growth overall in 2017 having signed 31 customers who have yet to launch their NetEnt products. In 2016 the company inked a total of 45 new customer agreement and saw 34 new customer casinos being launched.

Chief Executive of NetEnt Per Eriksson commented:  “2016 was another exciting year for NetEnt with new record levels in revenues, earnings and cash flow. The fourth quarter developed well – revenues increased by 23.9% and the operating margin improved to 39%.”

“Great Britain continues to offer great growth potential for us and in December, it became our largest geographical market for the first time. Looking ahead in 2017, we see conditions for continued solid growth, supported by a strong pipeline of new games, UK, mobile, new customers to launch as well as our expansion in North America.”