Yggdrasil targets UK as growth soars
Developer expects to gain GB licence soon and says it is "talking to everyone" in market
Cherry-backed games developer Yggdrasil Gaming expects the UK to become one of its core markets as the firm looks to build upon growth which saw revenues more than quadruple in Q3.
In a trading update released this morning, the firm said revenues had increased 339% to SEK5.3m (£402,000) year-on-year for the three months to 30 September.
And the firm said it was now ready to expand into new jurisdictions, including the UK where it was awaiting the result of a licence application.
“The UK is a very important market for us going forward,” Yggdrasil CEO Fredrik Elmqvist told eGaming Review. “We need to expand our hunting grounds and most of the tier one operators are active there.
“Some of our existing Nordic-founded customers have also grown rapidly in this region, so we will have an entry point with our existing customers,” he added.
While Elmqvist would not reveal which UK operators the firm was lining up deals with, he did say Yggrdrasil was “talking to everyone”. Yggdrasil’s clients include the likes of Unibet, LeoVegas, Betsson and Mr Green.
The expansion will likely see more staff hires, with Yggdrasil having already increased headcount by more than 50% since Q2.
Having signed a number of new clients at the end of 2014, Elmqvist said much of 2015 has been dedicated to adding value to its existing customer list.
Part of this investment will include the firm’s new Boost campaign tool, which will feature a range of promotional concepts and is set to launch in the coming weeks.
“We signed a lot of clients very quickly and we had to make sure we invest in the infrastructure. There will be a big investment in promotional tools and then the games roadmap itself,” Elmqvist said.