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MrGreen Casino Q2-H2 Results

FIRST HALF AND Q2 RESULTS FROM MR GREEN ONLINE CASINO GROUP
 
Second half especially strong following launch of new sportsbook but EBITDA declines.
 
The Mr Green online gambling group has posted its second quarter and first-half 2016 results,
 
Q2-2016 statistics include:
 
* Revenue up 8.1 percent y-o-y at SEK211.2 million;
 
* Mobile revenues a major driver at SEK90.1 million - a 69.1 percent rise year-on-year;
 
* SEK85 million in revenue generated from operations in the Nordic region, reflecting a 2.9 percent y-o-y decrease;
 
* Revenue from the rest of Europe up 16.7 percent year-on-year to reach SEK119.6 million.
 
* Rest-of-the-world operations delivered revenues of SEK6.7 million (Q2-2015: SEK4.8 million);
 
* Quarterly EBITDA was however down at SEK12 million (Q2-2015: SEK12.5 million) with margin at 5.7 percent (Q2-2015: 21.8 percent). This was as a result of local taxes, an increase in marketing costs, investments related to the Live Casino project, and the launch of a sportsbook.
 
* EBIT was negative at SEK-3.1 million (Q2-2015:SEK25 million);
 
* During the second quarter the active players base rose to 92,721, up 26.5 percent year-on-year, and with larger average deposits, which reached a new record of SEK601.7 million (Q2-2015: SEK550.6 million);
 
* The launch of a new sportsbook on June 7 was the most notable event of the quarter.
 
Mr Greens half-year performance included:
 
* Revenue up 10.2 percent at SEK429.7 million;
 
* EBITDA for the period down at SEK42.2 million (H1-2015: SEK66.9 million), with margin at 9.8 percent (H1-2015: 17.2 percent);
 
* EBIT was down at SEK13.7 million (H1-2015: SEK29.9 million).
 
CEO Per Norman reported on the strategy and initiatives undertaken over the past year, including the introduction of a new technological platform; the increased focus on mobile gaming and the Live Casino segment; the launch of sports betting offering; and the changes in the companys Malta-based management team, claiming that these have begun bearing fruit at operational level.
 
The results announcement also notes that during Q2 two key appointments were made. Former Svenska Spel CEO Jesper Kärrbrink became chief executive of Mr Green Ltd., the company’s Malta-based subsidiary responsible for online casino operations, and Niclas Enhörning was appointed as CEO of Mr Green & Co Technology AB.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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