Mr Green successfully adapts to foreign markets

Online casino Mr Green has had a promising third quarter of 2015, thanks to a year-on-year increase in revenue. Totals soared from SEK 168.5 million by almost a fifth (19.6%) to SEK 201.6 million, which equates to around $23.3 million.Mr Green has also seen the number of Active Customers rise by a similar 20% to 73,689 – up from 66,266 this time last year. 

Mixed figures

 Despite the good news on the revenue and customers, earnings before interest, text, depreciation and amortisation (EBITDA) fell by more than SEK 1 million from SEK 42.4 million to SEK 40.8 million.Earnings before interest and tax dropped into negative figures after a fall from SEK 28.4 million to minus SEK 82.7 million.Despite the mixed financial results, the company’s CEO Per Norman says that Mr Green has now “laid the foundation to continue to outpace the market”.


Increased customers, decreased profits

 He continued to explain that the reason for the increase in customers, but decrease in profits as “impacted by recognition of an amount corresponding to SEK 25.4 million in tax, compared with SEK 400,000 in the year-earlier period.”While no company wants such disparities, it can be expected when a company expands into newly regulated markets, as Mr Green has done this year. It has increased operations, but increased tax pressure has forced the company to control even further costs.


Strong third quarter

 Overall, Mr Green has had a strong third quarter, and as such as brought revenue for the year to date, to an impressive SEK 591.5 million ($69.6 million). The online casino is expecting to continue adapting to its new markets and enjoy a successful 2016. 

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