Mr Green targets faster online casino growth after Q1 success

Per Norman, chief executive of Mr Green, has said that the company is aiming to grow at a faster rate than the wider online casino market in order to continue to achieve further financial growth, following success in the first quarter.
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Revenue in the opening three months of the year amounted to SEK281.5 million (€30.7 million/$35.4 million), which represents a jump of 11.9% on the total collected during the corresponding period last year.

Earnings before interest, tax, depreciation and amortisation (EBITDA) before non-recurring items was also up 23.5% year-on-year to SEK30.2 million, with an increased margin of 13.8%.

Meanwhile, earnings before interest and tax rocketed from SEK4.9 million in the first quarter of 2015 to SEK16.8 million in the most recent three-month period, while earnings per share also increased from SEK0.13 to SEK0.68.

Mr Green also noted an increase in active customers from 86,134 to 94,472.

“The European online gaming market is expected to grow at about 8% in CAGR in the next years, and our long-term goal is to continue to grow at a faster pace than the market,” Norman said.

“Over the past six months, we have successfully launched our new mobile products and gaming apps, which have been well received by our customers and won awards internationally.

“Mr Green’s core strengths are its strong brand and good customer relationships.

We believe our strong brand, new platform, strengthened management team and broader product offering put us in a good position to achieve continued growth.”