MR GREEN DELIVERS, AGAIN.
Results impacted by non-recurring investments in new platform, launch of sportsbook, live casino and marketing.
Respected online casino operator Mr Green reported a strong second quarter driven by the rapid uptake of mobile.
Key performance highlights for the period ending June 30, 2016 included:
Total revenue increased by 8.4 per cent to SEK 211 million (Q2/2015: SEK 194.8 million.
Mobile revenue reached an all time high of SEK 90.4 million, up 69.4 percent and now accounts for 42.8 percent of total revenue.
EBITDA amounting to SEK 12 million (Q2/2015: 42.5 million) was affected by local betting duties, an increase in marketing spend, investment in live casino and the launch of Mr Green’s sportsbook.
EBITDA margin was 5.7 percent (Q2/2015: 21.8 percent).
EBIT was SEK -3.1 million (Q2/2015: SEK 25 million).
Earnings per share were SEK -0.13 (Q2/2015: SEK 0.56).
Mr Green’s online casino increased active customers by 26.5 percent to 92,721 (Q2/2015: 73,279), while customer deposits reached an all time high of SEK 602 million (Q2/2015: SEK 550.6 million).
Key Performance Indicators for First Half Year ending June 30, 2016:
Total revenue increased by 10.2 percent to SEK 429.7 million (H1/2015: SEK 390 million).
EBITDA was SEK 42.2 million (H1/2015: SEK 66.9 million) and EBITDA margin was 9.8 percent (H1/2015: 17.2 percent).
EBIT was SEK 13.7 million (H1/2015: SEK 29.9 million).
Earnings per share were SEK 0.55 (H1/2015: SEK 0.69).
“The strategy and the initiatives that have been adopted and implemented over the past year, including a new technological platform, a focus on mobile gaming, the broadening of our product range to include a Sportsbook, a stronger focus on the Live segment, a strengthened management team and a new CEO in Malta, are now starting to bear fruit at the operational level, putting us in a good position to deliver continued growth,” Per Norman, chief executive officer of Mr Green & Co. commented.