Playtech, Yggdrasil announce impressive numbers for 2016

Playtech, Yggdrasil announce impressive numbers for 2016

It’s been a good year in online gambling it seems, as two of the industry’s most respected game producers posted excellent financial results, going to show that a quality product will always earn its keep. Let’s look at those numbers and what they mean.

Record results for Playtech

The year 2017 is off to a good start for Playtech, who reports an awesome 20% rise in revenue over the previous year. That’s 708.6m at constant currency, a growth led by the company’s casino offering.

Adjusted net profit also grew, with a 42% increase that translates to 206.2m. Adjusted EBITDA witnessed a year-on-year improvement as well, up to 302.2m — a change of 32%.

Playtech’s 2016 report also included reference to the company’s acquisitions as well as its new clients. The provider spent 240m on acquisitions, adding BGT, ECM and Quickspin to its stable. 10 new clients look good for future growth, with big players like MaxBet, Mr Green and Pokerstars on board.

Promising full-year, quarterly results from Yggdrasil

No less impressive are the 2016 full year and fourth quarter results coming out of Yggdrasil. Q4 revenues jumped a whopping 207% over the MSEK 10.4 in 2015, reaching MSEK 31.8. EBITDA for the same period also shot upwards year-on-year to MSEK13.2, a boost of 42%.

There was plenty to see in the Yggdrasil highlight reel for 2016 – 10 new licence agreements were concluded, player transactions saw a 210% year-on-year rise and a decision was reached to create a new parent company, expanding to the company’s office in Stockholm.

Numbers for the full year were also a thing of beauty. Revenues jumped 332% year-on-year, to MSEK 86.9. EBITDA soared by 670%, amounting to MSEK 40.1 with a 46% margin. Player transactions reached 1.8 billion rounds, an increase of 418%.

Yggdrasil has been hard at work earning those numbers too. 13 new games were released in 2016 and 20 new operators were signed. The company became licensed in Gibraltar and Romania and went live in the United Kingdom. It’s been a busy year for Yggdrasil and their efforts have definitely paid off.