Online game developer Yggdrasil posted a 696 per cent increase in revenues in the fourth quarter, rising to SEK10.4m (€1.1m), with EBITDA climbing to SEK 4.9m (€520,000), up from a SEK1.4m (€150,000) loss in the same period
Bet turnover increased by 991 per cent year on year, to SEK2.28bn (€240m), with mobile gaming accounting for more than 40 per cent of total gross game win.
During the period, Yggdrasil was granted licences by the UK Gambling Commission and signed three major UK contracts with LeoVegas, Mr Green and Unibet.
For the full year, revenues increased by 357 per cent to SEK20.1m (€2.14m) while EBITDA rose to SEK5.2m (€550,000), up from a loss of SEK4.6m (€490,000) in 2014.
Fredrik Elmqvist, CEO, said: “Yggdrasil enjoyed an absolutely fantastic 2015 which has put us in a position to push on this year and firmly establish ourselves as a top-tier supplier.
“Last year the focus was on bringing new value to our existing clients, although by the end of it we had still brought our total number of operator sign-ups to 27.
“We continue to grow as a company, even faster than our own estimations. We expected to be a team of around 28 by the end of the year and come December we had already hit 45,” he said.
“The early signs for 2016 are looking extremely encouraging. We’ve launched a new slot, Incinerator, applied for a remote gaming licence in Gibraltar, signed up bet365 and won the prestigious iGaming Software Supplier of the Year at the annual International Gaming Awards.”
