Revenue up for Mr Green in Q1 as sportsbook launch nears

Revenue up for Mr Green in Q1 as sportsbook launch nears

Mr Green has reported a 12% year-on-year revenue increase to SEK 218.5m (£18.6m) for the first quarter of 2016.

EBITDA before non-recurring items saw an upturn of 24% to SEK 30.2m and earnings per share went up from SEK 0.13 to SEK 0.68.

When breaking down the figures, an increase in revenue from business in the rest of Europe outside of the Nordic region played a crucial role in the revenue rise, as SEK 119.9m was generated from that region, up from SEK 99.5m.

Revenue from the Nordic region virtually flat-lined at SEK 93.8m, and the revenue from the rest of the world went from SEK 1.8m to SEK 4.8m.

The number of active customers for the Mr Green online casino, the only vertical within its current offering, ascended to over 94,000 from roughly 86,000.

The operator was also able to provide an update on the impending launch of an online sportsbook, which it anticipates will occur in the autumn of this year at the latest.

Plans for the sportsbook were laid out in Mr Green’s annual report for 2015 and CEO Per Norman told Gambling Insider at the time that the timing of the launch would depend on how quickly it could choose a supplier.

Mr Green has since reached an agreement with Kambi to provide the sportsbook and also plans to switch to the Nasdaq stock exchange from the unregulated AktieTorget list in Sweden at some point this year.

Jesper Kӓrrbrink was announced as CEO of the Malta-based Mr Green Ltd, a division within the overall Mr Green group, earlier this month.

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