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Mr Green posts a loss of GBP5.8 million in third quarter
Friday November 6,2015 : TAX WEIGHS ON MR GREEN ONLINE CASINO RESULTS
Company posts a loss of GBP5.8 million in third quarter.
Online casino operator Mr Green posted weaker third quarter results for the period to end September 2015 this week, reporting a loss of SEK 75.95 million (approx. GBP 5.8 million), a decline when compared with the same period in 2014, when the company achieved a profit of SEK 27.4 million in the corresponding period last year.
Explaining the loss, chief executive Per Norman said the results were mainly impacted by “recognition of an amount corresponding to SEK 25.4 million in tax compared with SEK 400,000 in the year-earlier period”.
He added that the company continues to dispute its Austrian tax liability following the implementation of a 40 percent tax on gross gaming wins for online gaming, and the third quarter provision was a precaution against a worst-case scenario.
Other elements in the company's report included:
* EBITDA before items affecting comparability was SEK 40.8 million, down slightly year-on-year from SEK 42.4 million; however, items affecting comparability of SEK 81.6 million resulted in an overall negative EBITDA of SEK 40.8 million;
* Negative EBIT, including depreciation and amortisation as well as an impairment, totalled SEK 82.7 million.
* Total revenue in the quarter rose 20 percent year-on-year to SEK 201.6 million, with the mobile channel rising 72 percent to deliver revenue of SEK 62.6 million;
* Active player numbers rose from 66,266 in the same period in 2014 to 73,689 in Q3-2015;
* Year-to-date revenues are currently up 22.1 percent y-o-y at SEK 591.5 million;
Norman commented that the company has laid the foundations for success going forward with good growth.
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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