The online and mobile casino gaming operator Yggdrasil Gaming published its financial results for the third quarter of the current fiscal year. The company, which is based in Malta but also operates under licenses granted by the competent regulatory authorities of the UK, Gibraltar and Romania, provided detailed information about its performance over the three-month period and also highlighted the notable events over the quarter.
The Chief Executive Officer of Yggdrasil Fredrik Elmqvist commented on the operator’s performance in the third quarter, describing it as “another hugely successful” three-month period. He also shared that the company had managed to establish itself as the leading online casino supplier in the market.
Mr. Elmqvist also shared that Yggdrasil’s rapid expansion remained intact, especially considering the massive revenue growth reported over the quarter. He also explained that one of the company’s paramount goals should be make its growth sustainable in the long term. The Malta-based operator’s Chief Executive Officer shared that the company would also continue to make investments in its further growth.
As revealed by Yggdrasil in its latest Q3 update, the revenues generated by the company over the three-month period rose by 299% and reached SEK 21 million. In comparison, the revenues reported over the third fiscal quarter a year ago amounted to SEK 5.3 million. Yggdrasil shared that mobile gaming accounted for 54% of the company’s total gross gaming winning.
There was also an increase in the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA), from SEK 1.9 million in 2015 Q3 to SEK 9.2 million in this year’s third financial quarter. Also, the EBIT of the operator increased to SEK 5.8 million. In addition, Yggdrasil shared that its EBITDA margin was estimated to 44% for the period.
According to the details, provided by the company in its official third-quarter update, there was also an increase in the nuber of player transactions. The latter rose by 427% on year-on-year basis and reached 438 million.
Apart from the trading update, the Maltese casino gaming operator highlighted some of the events that turned out to be some of the company’s milestones over the period. For example, Yggdrasil emphasized on the fact that it managed to release three new games over the period – Big Blox, Double Dragons and White Snake Lady. In addition, the operator received two licenses from the competent gambling regulatory body of Romania – the National Gambling Office. Under these licenses, the company is given the opportunity to host its gaming platforms locally, and to distribute its gaming software offerings in the local market.
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Olivia Cole
