Yggdrasil aims for the top after "fantastic" 2015

Yggdrasil Gaming believes it is ready to establish itself as a top-tier gaming supplier in 2016, with the firm set to be boosted by its recent UK launch and the release of up to a dozen new slots titles.

The Malta-based company has signed six UK contracts since obtaining a licence from Great Britain’s Gambling Commission in Q4 2015, including that of bet365, and its chief executive Fredrik Elmqvist said the firm now planned to “push on” and become “the best” supplier in the industry.

“The early signs for 2016 are looking extremely encouraging,” Elmqvist said. “We’ve launched a new slot, Incinerator, applied for a remote gaming licence in Gibraltar [and] signed up bet365 – not bad given it’s only February.

“Our aim at Yggdrasil is not to become the biggest provider in the market, but we certainly aim to be the best,” he added.

The Cherry-owned provider had 27 agreements with operators by the end of 2015, including three UK contracts with Unibet, LeoVegas and Mr Green. The firm has doubled this number so far in 2016, adding deals with Vera&John, ComeOn and Betsson.

Elmqvist’s comments come after the firm published its full-year and Q4 financial results, which showed a 357% surge in full year revenues to SEK20.1m (?1.68m). The increase resulted in EBITDA of SEK5.2m (?430,000) for the year, after posting negative SEK4.6m (-?380,000) in 2014.

Fourth quarter results were even more impressive, with revenues up 696% year-on-year to SEK10.4m (?870,000) and EBITDA of SEK4.9m (?410,000).

Mobile gaming accounted for 42% of the total gross game win in the quarter.

“Following a hugely successful 2015, it is clear we have an agile team in place with technical expertise which is second to none,” Elmqvist said. “We are all very excited about making further strides this year.”

Last week, Swedish firm Cherry – which owns an approximate 90% stake in Yggdrasil – announced 91% growth in full-year online revenues.