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Yggdrasil Q3 2018 financial update

George Miller



Yggdrasil Q3 2018 financial updat
Reading Time: 3 minutes


Business highlights Q3 2018 (Q3 2017)

  • 13 new license agreements signed (10)
  • 3 new games launched: Penguin City, Hanzo’s Dojo and Wolf Hunters (3). Launch event for Nitro Circus – Yggdrasil’s first ever branded game partnership
  • UK legal entity created, certified to launch in Spain, entry into Czech Republic through Tipsport agreement and entry into Taiwan with social gaming operator XSG
  • Launch of casino games fan site (Yggdrasil Casino)
  • Number of FTEs 272 (170)
  • Player rounds increased by 51% to 1,534 million (1,019 million)
  • Mobile share of EGW was 65% (59%)

Financial highlights Q3 2018 (Q3 2017)

  • Total operating revenues increased by 62% to MSEK 71.5 (44.1)
  • EBIT increased by 26% to MSEK 19.3 (15.3)
  • EBIT margin amounted to 27% (35%)

Financial highlights January-September 2018 (January-September 2017)

  • Total operating revenues increased by 66% to MSEK 195.8 (117.9)
  • EBIT increased by 21% to MSEK 49.7 (41.2)
  • EBIT margin amounted to 25% (35%)

Notable events after the quarter

  • Signed ATG and Svenska Spel in Sweden ahead of the re-regulation in 2019. Also signed Veikkaus in Finland
  • Kick-off in Poland for all employees

Comment on Q3 2018 by founder and CEO Fredrik Elmqvist

“On behalf of the whole team at Yggdrasil I am pleased to announce yet another eventful quarter characterized by continued expansion and signing of several new partnerships. End user activity measured by player rounds reached 1,534 million during the quarter, representing an uptick of 51% from the same period last year. Revenues for the quarter grew by 62% compared to 2017 to MSEK ~72and EBIT by 26% to MSEK ~19, representing an EBIT margin of 27% while being in a high growth mode. We continued to fully emphasize our expansional focus by making investments for the future, both in the business and into new products.

During the quarter we signed several high-profile customers and our very first social gaming partnership in Asia through a deal with Taiwanese operator XSG. In Europe we signed among other Tipsport in the Czech Republic, Intralot in Italy and became certified in Spain – all important building blocks of our long-term strategy and commitment to expand our regulated market footprint. I am also thrilled to announce that we have signed with ATG and Svenska Spel in Sweden and Veikkaus in Finland after the close of the quarter. We have also established a local presence in the highly important UK market to improve our commercial reach to new candidates for our YGS Masters program.

The third quarter was also active in terms of business development and investments in new products. We continued to grow the organisation and have welcomed 29 new Yggdrasilians during the quarter and the total number of employees now amount to 272 – up by 102 from the end of the same period last year! I am delighted to steer such a diverse team of world class talent, where people are encouraged to challenge both themselves and Yggdrasil in a truly open and multinational environment. On the product side we have ramped up our games development phase and we have more games in the pipeline than ever before, while we continue to stay true to our DNA by only bringing the best content to the market and not losing focus on quality.

With the first nine months of the year behind us I am excited on the opportunities and challenges ahead. We continue to put full emphasize on growth and making investments into the organisation to stay at the forefront as a true industry innovator and to pave the way for our continued journey.”

Fredrik Elmqvist, Malta, October 2018


About Yggdrasil:

Yggdrasil is a provider of superior online gaming solutions for igaming operators. The business was founded in 2013 and has since emerged as one of the industry’s most respected and acclaimed suppliers. Yggdrasil operates a highly scalable business model and covers three product verticals: Casino Slots, Table Games and Bingo, in addition to the business verticals: Yggdrasil White Label Studios, YGS Masters and Yggdrasil Dragons. Since its inception, Yggdrasil has embarked on a solid growth trajectory enabled by a strong corporate culture focused on innovation, creativity, quality and technology leadership. Yggdrasil is headquartered in Sweden and has offices in Malta (operational HQ), Poland and Gibraltar.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Industry News

Playson’s Business Development Manager Lars Kollind shortlisted for iGaming Idol Awards

George Miller



Playson’s Business Development Manager Lars Kollind shortlisted for iGaming Idol Awards
Reading Time: 1 minute


Lars Kollind, Business Development Manager at Playson, has been nominated for Sales Idol of the Year at the iGaming Idol 2019.

Kollind, who has helped raise the profile of the casino software developer since joining the company earlier this year, impressed the panel of expert judges with his management skills and commercial acumen.

Winners will be announced at a prestigious awards ceremony, which takes place on 11th September at The Westin Dragonara Resort, Malta.

The iGaming Idol Awards celebrates those who have excelled in their field of expertise and made a positive impact on the iGaming industry.

Lars Kollind, Business Development Manager at Playson, said: “I’m delighted to have been shortlisted for Sales Idol of the Year at this year’s iGaming Idol Awards.

“It has been an exciting few months at Playson with some big commercial deals announced and the release of some fantastic games.

“It’s an honour to be nominated by my peers and fingers crossed we can turn this shortlist into some silverware.”


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Evoplay Entertainment Goes Live With Leonbets

George Miller



Evoplay Entertainment Goes Live With Leonbets
Reading Time: 2 minutes


New deal extends distribution of innovative portfolio across new markets


Evoplay Entertainment, the innovative game development studio, has continued to expand its global market presence by signing with leading operator Leonbets.

The deal will see Evoplay Entertainment’s full portfolio of more than 60 slots, table, and instant games go live with Leonbets.

Alexander Levchenko, CEO at Evoplay Entertainment said: “We are delighted to sign with Leonbets, one of the industry’s fastest growing operators.

“The Leonbets team’s reputation as a great partner and an operator with a strong focus on customer enjoyment precedes them and we are sure this will be the start of a long chapter of productive and successful co-operation together.”

Dimitry Popov, spokesperson for Leonbets, said:Evoplay Entertainment’s games are a fantastic asset alongside our existing content, and we’re thrilled to have them on board.

“Their innovative 3D/VR slots will be available to all our players and we’re looking forward to seeing how excited they will be.”

Despite only being founded in 2017, Evoplay Entertainment’s portfolio already includes more than 60 slots, table, and instant games. With a development focus on responding to a new generation of players’ demands for more immersive, innovative gameplay, it is the industry’s first development studio to have developed two full HD and VR in-browser slots.

Its most recent, Sprinkle, unveiled at ICE 2019 in February. Unique for its mobile-first mechanics and the 360’ degree 3D / VR in-browser capabilities, allowing players to rotate, zoom in and out, as well as swiping left or right on their mobiles to change their bets automatically.

In addition, the studio has recently finalised the industry’s first RPG (role playing) slot, Dungeon, an HTML5 mobile game designed for a new generation of users and presenting them with a truly immersive experience.

Instead of regular pay symbols and pay patterns, the game’s mechanics follow a player’s 3D character as he battles monsters and accumulates loot when victorious.

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Industry News

Developments in Cloud Security to Eliminate Threats

George Miller



Developments in Cloud Security to Eliminate Threats
Reading Time: 4 minutes


Several companies that dabble with digital content on daily basis store their data on cloud. This data consists of private information of users and comprises of billions of terabytes in size. This delicate data faces threats from ransomwares and malwares. Hence, there arises the need for cloud security. Many software companies strive on making their firewalls impregnable by upgrading their security software.

CloudPassage is a security pioneer which has been awarded the first-ever patent for universal cloud infrastructure security and a leading innovator in cloud asset visibility. To help the company identify and remediate cloud risks, CloudPassage launched Halo. Its primary objective is to find a threat in any deployment in any company’s multi-cloud or hybrid cloud platform. Software Vulnerability Assessment tools and Cloud Service Management (CSM) are key differentiators for the platform. They offer insights on the threats and risks that could arise with usage of different types of cloud services in the organization. One of the key components of CloudPassage Halo is compliance monitoring. It is an automated process of identifying the arrays that informs the company when the configuration or workload strays away from the defined protocols.

The key features of CloudPassage Halo are software vulnerability assessment, file integrity monitoring, secure configuration assessment, and log-based intrusion detection. It offers automated security visibility and compliance monitoring for workloads that run in any on-premise, hybrid cloud, or public cloud environment. Furthermore, it enables monitoring while configuration of a software and reduces the vulnerability by scanning the surface for cloud workloads. It is a single platform that hosts three licensed SKUs: Halo Container Secure, Halo Cloud Secure, and Halo Server Secure.

Keysight Technologies is one of the leading companies that offer solutions to service providers, government, and enterprises ensuring cloud security. Recently, it announced that Symantec and Ixia (a Keysight Business) would extend their collaboration to upgrade their secure hybrid networks. The customers of Symantec would gain real-time visibility into their cloud database as Ixia’s CloudLens integrate with Symantec Security Analytics. This integration will lead to forming an industry-leading threat detection and forensics solution. When any enterprise stores their resources on the cloud, there is often a gap in visibility for those cloud assets. By adapting the cloud database, the IT operations organization is restricted to gain access to the infrastructure and networks that underpin its services. This leads a gap while monitoring those services.

In hybrid network system, SOC teams of enterprises require packet-level access to ensure that their cloud assets are protected. Symantec is working closely with Ixia as it is a part of the Integrated Cyber Defense Platform strategy to develop visibility architecture. This integration enables the SOC admins visibility in the cloud traffic and determine the source and scope of prominent attack or threat to the cloud infrastructure. Bryan Cardoza, product manager, Symantec stated that the recent enterprise comprises of mixed assets, including the data of infrastructure and premises, in the cloud. By operating hybrid cloud environment, this information would be prone to threats and security breaches. This integration will gain customers the full visibility of packet-levels in cloud in hybrid environment and network systems.

Comprehensive forensics and incident responses can be enabled with Security Analytics, by recording and enriching the traffic. Symantec Security Analytics is the key component of the Symantec’s Integrated Cyber Defense solutions. It works with Ixia’s CloudLens and Vision ONE for seamless traffic visibility across hybrid networks. Ixia’s Vision One network is a physical network that processes, feeds, and aggregates the traffic from several access points to Symantec Security Analytics appliances. Ixia’s CloudLens is programmed to gain visibility of the cloud environment and send traffic to Symantec’s Virtual Appliances. This traffic that is received through virtual and physical appliances is analyzed and processed. The results obtained from the analysis and then delivered through an aggregated view within Security Analytics.

A world leader in NextGen SIEM, LogRhythm, strives in empowering enterprises all over the world and reduce operational and cyber risk by quickly detecting, responding, and neutralizing the harmful cyberthreats. It has released a new Cloud-Based NextGen Security Information and Event Management (SIEM) Platform to improve the cloud security. The platform provides accurate detection and accelerated neutralization of sophisticated cyberthreats. The benefits from this platform are driven by LogRhythm’s end-to-end platform architecture. It uses patented and high-end machine-based analytics and its embedded security orchestration, automation, and response (SOAR) functionality. This ensures customers can now endorse best-in-class analyst experience offered by LogRhythm. Furthermore, it calculates the efficiency and other benefits while reducing the expenditures.

The customers of LogRhythm Cloud services require significantly lesser time to administer, deploy, and maintain the platform whilst spending more time using LogRhythm. This specially benefits the platform that is designed to reduce mean time to respond (MTTR) and mean time to deploy (MTTD) at the lowest cost of ownership (TCO). Kevin Merolla, the security manager at Chart Inc. said that the problem for solution maintenance was never an issue while working alongside LogRhythm Cloud. He could identify new cases for production instead of wasting time for setting up new hardware and software. It makes LogRhythm Cloud more valuable as it can be used across multiple other networks.

As the threat to private data increases, many companies aim to integrate cloud security. Many software companies have invested in the market of cloud security to develop new software that will put a stop to ransomwares and malwares. This has greatly profited the market of cloud security. As technology advances, more and more enterprises choose to digitalize its documents. To ensure the protection of this digital data, the need for cloud security increases at a substantial rate. The fast pace advancement of digital sector will drive the market for cloud security to new heights. After performing exhaustive research, Allied Market Research has forecasted that the global market for cloud security would rise to $8.9 billion at a CAGR of 23.5% by 2020. The fast pace advancement of digital sector will drive the market for cloud security to new heights.

By: Pratik Kirve

Pratik Kirve holds a bachelor degree in Electronics and Telecommunication Engineering and currently working as a Content Writer at Allied Analytics LLP. He has avid interest in writing articles across different verticals. When he is not following updates and trends, he spends his time reading, writing poetry, and playing football.

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