The Swedish provider of gambling and sports betting products and services Mr Green released a report about company’s financial performance in Q2 and H1 of 2016.
According to the released numbers concerning the Q2 results, a rapid growth in the mobile sector has been noticed. The revenue from games played via mobile devices jumped by 69.4% to reach SEK 90.4 million. The total revenue amounted to SEK 211.2 million, which means an increase of 8.4% YOY has been registered.
As for EBITDA, it was estimated at SEK 12 million and the EBIDTA’s margin was 5.7%.
Mr Green launched its sportsbook on June 7th and as a result, the earnings were affected because of the marketing costs related to the sportsbook release, the withdrawal of the old platform at the end of April and the introduction of the new one. The investment company made into developing its Live casino also had an impact on the earnings.
Meanwhile, the operator received a few prestigious awards including the Innovative App of the Year and Casino App of the Year at the annual International Gaming App Awards.
During the second quarter of 2016, a significant increase in the number of active players’ accounts was also reported. Their number reached 92,721, which is a 26.5% jump YOY. Customer deposits reached record levels and totalled SEK 601.7 million.
Mr Green also released information about company’s performance in the first half of 2016. According to the released numbers, the total revenue saw a 10.2% increase and reached SEK 429.7 million. EBITDA was SEK 42.2 million and the EBITDA margin was estimated at 9.8%.
Per Norman, Mr Green’s CEO, commented on company’s financial results and outlined the projects the has been started or completed during the reported period. He remained hopeful that Mr Green will retain its good positions on the European gambling market and long-term profitability is to be ensured.
He did not miss to mention the appointment of several financial and legal advisors and introduced the new members of the senior management team. Back in April, Jesper Kärrbrink assumed the post of CEO of online gaming. Niclas Enhörning is the new CEO of Mr Green and Technology AB.
Mr. Norman highlighted the importance of the initiatives that have been taken up during the previous year. The new platform, the launch of the Sportsbook, the focus on the live casino games and the enhanced management team at the Maltese office of the company put Mr Green in a position to benefit from a substantial growth in a long term.
- Author
Olivia Cole
