Yggdrasil Gaming, a leading developer of online gaming solutions, announced that it has secured a remote gambling license, issued by the Gibraltar Licensing Authority. This is the third licence Yggdrasil has successfully obtained by a European jurisdiction. The company holds licenses by the UK Gambling Commission and Malta Gaming Authority.
Yggdrasil, which is a subsidiary of Cherry AB, is now enabled to strengthen its positions on the European market and provide services to Gibraltar-based players. Company representatives confirmed the new license acquisition and revealed that it would have a great contribution to firm’s commercial growth and expansion of its client base.
Yggdrasil’s CEO, Fredrik Elmqvist, also commented on the newly obtained license and said that this was yet another important milestone for the company. Those who keep themselves informed about Yggdrasil’s ventures know that back in December, it was awarded a UK gambling licence. Company’s products popularity is growing on the Maltese gambling market as well.
In previous announcements, Yggdrasil’s CEO commented that he wanted to see the firm undergoing a considerable market expansion and confirmed that the UK market was a really competitive one, but company’s products were well accepted.
As for the Gibraltar license, Yggdrasil submitted a formal application at the beginning of February and the expectations were to go live during Q2 of 2016.
Mr. Elmqvist shared that Gibraltar was an important jurisdiction and he was honoured to work towards building up company’s presence and its implementation into the online gaming community in Gibraltar. He also added that the firm can take pride in becoming a well-recognised provider and the fact itself that it managed to stand out from the rest boosts his confidence that Yggdrasil will achieve its main objective to become the best supplier of online gaming options.
Mr. Elmqvist also commented on the workforce needed for the expansion of company’s operations. He confirmed that some key positions have been filed recently and Chief Commercial Officers for Gibraltar have also been appointed.
The last 12 months have been quite successful for the Swedish company as it managed to ink agreements with leading European companies. The promotional tools, known as BOOST, also played a role for its successful performance. A number of slot games were released as well. All these factors led to a record revenue increase for Q1 of 2016 when a 519% jump YOY was reported.
