Supplier of gaming content for the online casino industry Yggdrasil Gaming announced that it has appointed Frida Gustafsson to the newly created role of Chief Financial Officer. The company said that its rapid growth over the past several months has necessitated the new post’s creation and Ms. Gustafsson’s appointment.
Ms. Gustafsson is joining Yggdrasil Gaming after spending more than seven years at fellow provider of online casino content NetEnt. She took a number of financial posts at the Swedish company. Ms. Gustafsson joined NetEnt in 2009 as a Finance Specialist. She next served as Accounting Manager and International Accounting Manager. Most recently, she worked as Finance Manager of Tax and New Markets at the major gaming software provider.
Yggdrasil Gaming’s new CFO will be based in the company’s Malta headquarters. As mentioned above, Ms. Gustafsson’s appointment comes as a result from the gaming supplier’s continued growth that required “a more complex corporate structure.” The creation of the CFO post has been the latest move of the ongoing recruitment drive Yggdrasil Gaming has undertaken. Over the past year, the company has seen its staff grow from just 25 members to a total of 65 at the moment.
As a result, the supplier has also expanded its office in Malta and its Poland-based global tech center. In addition, a new commercial operation has been developed out of Gibraltar.
Commenting on the latest announcement, Yggdrasil Gaming CEO Fredrik Elmqvist said that as the company is growing, it is important to them to create a team of top-class executives. Being one of brightest financial minds in the online gaming business, Ms. Gustafsson will certainly prove to be a huge asset to the gaming supplier, Mr. Elmqvist added.
Of her recent appointment, Ms. Gustafsson herself said that she is delighted to join Yggdrasil Gaming at such an exciting time for the company. She further commented that the supplier is one everyone within the industry has heard of and that it has a great potential for “a massive growth” in the years to come.
Yggdrasil Gaming has not posted its financial report for the second quarter of 2016 yet but the company was off to a good start of the year, as seen in its report for the three months ended March 31. Revenue for the period jumped 519% year-on-year to a total SEK14.2 million. EBITDA increased from a negative of SEK0.4 million to SEK7.9 million. The supplier enjoyed a strong organic growth from both existing and newly signed clients as well as from several important launches.
