Yggdrasil confirm strong Q3 results
News on 11 Nov 2015
News on 11 Nov 2015
Yggdrasil Gaming delivered impressive results in a third quarter update this week saying September was the first month with a positive EBIT.
During the third quarter, revenues increased 339 percent year-on-year to SEK 5.3 million while bet turnover increased by 449 percent to SEK 1,003.5 million. Mobile gaming accounted for 33 percent of total gross game win.
“Yggdrasil has moved to another level in Q3,” said chief executive officer Fredrik Elmqvist.
“I’m thrilled that we were in the black with our EBIT in September for the very first time and EBITDA is positive on the full year so far.
“This demonstrates that the business is flourishing and it’s a very exciting time for everyone involved.
“We have an aggressive growth strategy and the investment we have made in our products and services has really come to fruition.”
The company is experiencing a strong growth phase now employing 38 employees between its Malta and Krakow offices, a 50 percent jump since Q2/2015.
