Publishing its financial performance for the first three months of 2017, Malta-based i-gaming content developer Yggdrasil Gaming reported a 134 per cent year-on-year increase in revenues, to SEK33.3m (€3.45m).

Q1 revenues more than double at Yggdrasil

Earnings (EBITDA) for the period increased to SEK13.3m (€1.38m), up from SEK7.9m (€0.82m) for Q1, 2016. The EBITDA margin for the quarter was 40 per cent.

The number of player transaction (rounds) climbed by 121 per cent year-on-year, to 701 million, while mobile gaming now accounts for 52.3 per cent of total gross game win.

In a statement, Fredrik Elmqvist, CEO of Yggdrasil, said: “Even by the high standards we have set ourselves at Yggdrasil, 2017 has kicked off with an incredibly busy and productive first three months.

“We began the year with organisational alterations on both the ordering and supplier side of the operation, with the intention of ensuring the correct foundations are in place to allow us to scale at a pace that matches our ambition, appetite and growth rate.

“Krzysztof Opałka was promoted to the new position of CPO, Andrew Pegler was named CCO Gibraltar and we have also created a number of new positions across all entities,” said Elmqvist.

“Elsewhere, there are also exciting times ahead for us in the Italian market. We expect our first customer, bwin, to go live during Q2.

“We continue to follow our own path here at Yggdrasil. It has brought us a great deal of success already, but we are only just getting started.”