Online game developer Yggdrasil saw revenues for the first half of 2016 increase by 661 per cent year on year, to SEK34.1m (€3.6m).

Yggdrasil

Operating profit increased by SEK12.2m (€1.28m) while the number of player transactions jumped by 1,062 per cent to 753 million.

Mobile gaming accounted for 48 per cent of total gross game win in the period, during which Yggdrasil signed eight new licence agreements, including with operators bet365 and bwin.party.

Fredrik Elmqvist, CEO of Yggdrasil, said in a statement: “The entire team can be very proud with how things have progressed in the first half of 2016. Our strategy is firmly on track and we are consistently smashing our target numbers out of the park.

“The growth we have achieved has been excellent, but we are still in a volatile phase of expansion so we need to view the current results in a more long-term perspective.

“Our attention now turns to new business as we are ready to take on a lot more after investing significantly in infrastructure and focusing on optimisation during H1."