Yggdrasil Gaming continues its expansion in the UK

May 27, 2016

Yggdrasil-Gaming

Keeping in mind greater expansion in the UK, Yggdrasil Gaming plan to continue their growth seen in the start of 2016.

The Swedish casino software provider’s first quarter of 2016 in the UK has been quite successful, and the CEO Fredrik Elmqvist wants to make his games grasp a bigger market share. He said: ”Our games are currently available at six operators in the UK, and more will come in the next months. The market is competetive and we are still a new player in the field, but the start was promising.”

Yggdrasil has reported a 519% growth in Q1 2016 revenue compared to Q1 2015, up to £1.2m, and a bet turnover increase of 1 085% to around £300 000 000. EBITDA for Q1 was £670 000 this year, compared to a negative £34 000 last year.

Waiting for approval

Yggdrasil Gaming is still waiting for their Gibraltar license to be approved, hoping to go live during Q2 2016. CEO Elmqvist commented: ”We are growing very fast with all the opportunities and challenges this brings to the table. In December there were 45 people in our team, and now we are 65 and counting. We are loving that people with all kind of backgrounds want to work for us. We have been able to hire several key resource the past month, including Yggdrasil’s first CFO.”

Elmqvist elaborates on the hiring process: ”It was extensive, we don’t want to hire someone from our partners or competitors, since we want people with integrity who can build lasting relationships in this business. On top of this we are also very selective. Many qualified candidates have been rejected because they wouldn’t be a cultural fit for our company. We are proud to say that it is very hard to get a job at Yggdrasil.”

In the months to come, Yggdrasil Gaming is planning to develop BOOST, their set of promotional tools, which has become a very important part of the marketing strategies of many operators.

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