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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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