Malta-headquartered developer of online casino content Yggdrasil Gaming posted financial information and operational highlights for the half-year ended June 30, 2016. Revenue jumped 661% during the period in review to reach SEK34.1 million. In comparison, the amount of SEK4.5 million was reported for the same six months of the previous year.
Operating profit totaled SEK12.2 million. In comparison, the slot game developer posted operating loss of SEK4.7 million for the prior-year period. Operating margin stood at 36% in this year’s first half.
Player transactions were up 1,062% year-on-year to a total of 753.1 million. Yggdrasil Gaming also listed the continued growth in mobile gaming as one of the operational highlights of the past half-year. Mobile gaming represented 48% of the overall gross game win figure reported.
During the reviewed six months, the company signed license agreements with eight internationally recognized online gaming brands, including industry giant bet365 and bwin.party. In addition, Yggdrasil Gaming launched its products with two new clients.
The slot game developer received a much anticipated license by the Gibraltar Government, which was added to its existing ones by the UK Gambling Commission and the Malta Gaming Authority.
The company launched and promoted widely the Bicicleta slot right ahead of the UEFA Euro 2016. Seasons, Wicked Circus, and Monkey King were also among the titles rolled out during this year’s first half.
Commenting on the latest report published, Yggdrasil Gaming CEO Fredrik Elmqvist said that they all can be proud with the progress the company has made during the past half-year. The official further noted that their growth strategy is clearly on track, given the fact that they are “smashing” target numbers consistently.
Mr. Elmqvist explained that during the reported six months, they mainly focused on achieving organic growth, optimization, and investing in infrastructure.
Yet, the executive pointed out that despite the rapid growth, the game developer and supplier is still a “small and agile” one compared to the gambling industry’s big names. The company hopes to secure additional revenue drivers in the upcoming quarters and to further establish itself as one that offers industry-firsts like the recently launched BRAG social tool that allows players to watch replays of winning spins and to share them on social media.
