Friday November 8,2013 : REVENUES SOAR AT MR GREEN ONLINE CASINO
Q3-2013 revenues up 50 percent year-on-year.
The Swedish online casino operator Mr Green has posted a stellar third quarter and year to date report, recording a 50 percent rise in revenues year-on-year and confidence in continued strong growth.
For the first nine months, Mr Green & Co AB experienced a very high rate of growth both in terms of game win and EBITDA.
Game win for the first nine months increased by 60.1 percent year-on-year and amounted to SEK 347.6 (217.2) million.
EBITDA for the first nine months was SEK 83.5 (20.8) million, which corresponds to a year-on- year increase of 300.6 percent.
During the third quarter, the game win amounted to SEK 124.1 (81.1) million, representing an increase of 53 percent compared with the year-earlier period. Active players in the quarter reached a new high of 65 853 (41 394).
EBITDA also rose sharply during the quarter and totaled SEK 31.5 (21.7) million during the period, an increase of 45.3 percent.
The company attributes part of its success to its focus on new mobile platforms.
Highlights of the period included:
* An agreement with NYX OGS to further strengthen its game offerings for mobile devices.
* Further development of the operator's mobile client for smartphones and the release of a new version.
Significant events after the reporting period included the launch of DSRPTV Gaming Ventures Ltd mobile product Garbo, in which Mr Green has an option to acquire full ownership.
Mikael Pawlo CEO of Mr Green said:
“Mr Green’s growth considerably outperformed the market during the third quarter. As yet, Mr Green does not issue any information on the performance of the business vis-a-vis individual markets, but [I] can divulge that Sweden accounts for considerably less than 50 percent of sales."