August 26th, 2015 / Finance Press Release
Yggdrasil H1 2015 Update
The first half of 2015 has been excellent for Yggdrasil.
2015 Highlights Up To Now
- Launched HMTL5 framework, iSENSE 2.0, with new UI
- Launched first progressive jackpot, Joker Millions
- Launched Infinite API™ for Gamification
- Launched industry-first Super Free Spins promotional concept
- As of 25th August, 11 agreements in total have been signed, including operator contracts with BetClic Everest Group and GVC
- As of 25th August, six operators have signed up for first progressive jackpot Joker Millions, including BetClic, Betsson, Cherry and LeoVegas
- Signed 24 operators, 20 of which are now live
- Signed Asian social and mobile in-app purchase operator
- Royalties more than doubled in H1 2015 compared with H2 2014
- Launched four new slot games: Dark Joker Rizes, Joker Millions, Cyrus The Virus and Chibeasties
- Now support 24 languages and 35 currencies
- Won software rising star at EGR B2B Awards
- Opened larger office in Krakow, Poland with room to grow team
Comment from Fredrik Elmqvist, CEO of Yggdrasil:
The first half of 2015 has been excellent for Yggdrasil. We invested heavily in H2 2014 with the launch of our in-house HTML5 framework iSENSE 2.0 and that investment has really paid off.
Our royalties have more than doubled in the first half of the year compared with the second half of last and that is down to the new framework which means we can be even more agile when it comes to releasing new games.
The decision to create all new games on iSENSE 2.0 meant that we were unable to rollout as many slots in H1 compared with the original plan. However, this was a strategic decision as we have already seen that the impact of iSENSE 2.0 games far exceeds the previous ones due to the framework’s efficiency in downloading and overall user experience. We have also decided to move all non-iSENSE 2.0 games to the framework before the end of Q1 2016.
There is going to be further investment in the product and games roadmap during the remainder of 2015. Our strategy remains that Yggdrasil games, platform and operational services are only available through direct partnerships and not through third parties.
We’re still a relatively small team – 25 people in total split between Malta and Poland – especially when you consider all we’ve achieved to date. I couldn’t be happier with the team. We’ve attracted a series of experts and it was a great thrill for everyone that we won software rising start of the year at the EGR B2B Awards.
I’m also excited to announce that we are now in a position to enter into the regulated UK market and an application will be submitted by Q4 at the latest. We wanted to make sure we had all the blocks in place before targeting the UK, but we have achieved so much in the first six months that we are ready to do so well ahead of schedule.
We have also now made the decision to close down our Curacao E-Zone license. We previously used this to get clients rapidly on board while waiting for the Malta Gaming Authority to go through their processing, but we’re now in the process of migrating all of them across so we decided to discontinue this license.
The start to H2 has been particularly encouraging. We have a number of new games in the pipeline and July was a record month for us in terms of game performance, as well as a 41% increase in game win month-on-month compared with June. July is usually a slower month, so this shows just how well things are progressing.
We’re not aiming to be the biggest supplier by the end of the year, but we’re certainly planning to be the best.