Yggdrasil creates parent company to meet growth plans

Yggdrasil Gaming has announced it will form a new Stockholm-based parent company to aid the supplier’s future growth plans.

The parent company will sit on top of Yggdrasil’s existing corporate structure and be established in what it describes as “one of the world’s leading technology cities”.

As part of the restructure, the company will also be hiring new and experienced talent for its graphics team based in the city.

Yggdrasil’s expansion into Stockholm adds to offices already established in Malta, Krakow and Gibraltar.

“We are hugely excited to be establishing a new epicentre for Yggdrasil in Stockholm, the hometown of many of our team and a key centre of igaming excellence, and we will now start recruiting,” Yggdrasil Gaming CEO Fredrik Elmqvist said.

“With the maturity and consolidation of the industry in Stockholm, it is now the right time for Yggdrasil to enter the stage and provide something fresh.

“Yggdrasil has been acting as an independent company since inception. Our rapid progress means it is important we create a corporate structure that will enhance our growth potential in the future, and aid our mission of becoming the best games supplier in the industry.”

Elmqvist has previously described Yggdrasil as being in a “volatile phase of expansion” with new customers and staff numbers soaring.

The firm posted a significant increase in revenues to SEK34.1m (£3m) for the first half of the year, in a period that saw the supplier roll out content with a number of tier one firms such as bet365 and bwin.party.