Yggdrasil announce new deal with GVC. The deal enables the gaming supplier to enter the Spanish gaming market. This comes after Yggdrasil announce outstanding financial figures for 2017.
After a successful 2017, it has been announced that Yggdrasil Gaming will be able to enter the Spanish online gaming market from the second quarter of this year after establishing a deal with GVC. This new agreement means that the company will be able offer its games to the Spanish market and do so in full compliance with the region’s requirements.
Yggdrasil’s Q4 financial results revealed that the company saw a 61% increase in revenue for the period, taking in MSEK51.2m. Last year as a whole was positive for the gaming supplier, and the results showed a 95% increase with revenue totalling MSEK169.1m.
The impressive figures were dominated by mobile gaming, with totals having reached 59% of the gross game win.
The company also released 11 new network games, one operator exclusive game and signed 40 new licence agreements last year, and the new deal for the Spanish market comes just a few weeks after Yggdrasil signed an agreement which would enable them to enter the Italian market.
What can the new market mean to the company?
GVC meanwhile has a strong presence for online casino in Spain largely thanks to its own leading brand, however now that Yggdrasil Gaming and GVC have joined forces to offer Yggdrasil titles in the market, it’s thought that said presence will only grow stronger in the coming months.
Reflecting on the past year as well as what lies ahead, Yggdrasil Gaming CEO Fredrik Elmqvist said:
“During Q4 we saw an increase in customers in Italy, and the signing of new and existing customers for another new regulated market for Yggdrasil, Denmark. Our first customers went live in Denmark in February, and we will do a full launch in the country in Q2.
“It has been a remarkable 12 months, but I am even more excited about the possibilities and opportunities that lay ahead in 2018. We have a world-class team, an industry-leading product set and the best customers in the business, and we will be building upon this throughout the year and beyond.”
Addressing the move into the Spanish market, he went on to say:
“Spain has quickly emerged as one of Europe’s fastest-growing and exciting jurisdictions, making it a perfect environment for Yggdrasil’s award-winning slots and promotional tools.
“Earlier this week, Spain posted its financial figures for 2017, with online gaming revenue jumping by 38% in the fourth quarter. Revenue during the three months ending December 31 2017, generated €173.3m, up 38% on the corresponding period a year prior. Furthermore, the fourth quarter revenue figures also posted an increase of 23.5% on the total collected in the third quarter of that year.
“To enter Spain with GVC, a long-time partner across multiple jurisdictions, will ensure our games are enjoyed by slots fans across the country. Following recent entries into Denmark and Italy, it also underlines Yggdrasil’s commitment to expanding its footprint in Europe’s regulated markets.”
Andy Whitworth, the Head of Content and Commercial for GVC echoed Elmqvist’s comments, adding:
“Our aim is to offer content from our best suppliers in all of our markets. Yggdrasil’s slots have already proved to be hugely popular with our players elsewhere, so we are delighted to be the first operator to bring that award-winning content to Spain.”