The Mr Green online casino has had a positive first quarter. The online casino has shown notable growth in the first part of 2015 when compared with the same period in 2014. The gaming operator has continued to expand and capture a share of new markets during this growth period.
Mr Green First Quarter Results
In the first quarter of this year, Mr Green's game win increased to SEK 195.2 million. In 2014's first quarter, the game win numbers showed SEK 154.2 million. This result shows a 26.6 per cent increase when compared to the same period last year.
It should be noted that EBITDA for the first quarter was SEK 24.4 million, down by 34 per cent from SEK 37.0 million that was recorded in the same quarter last year. EBIT in the first quarter was SEK 4.9 million.
At the Annual General Meeting, the Board made the decision to adopt a proposal for a share split, and automatic redemption. The total amount of dividends were SEK 46,604,237, which makes each share worth SEK 1.30 per share.
Comments from Mr Green & Co's CEO
Per Norman, the Chief Executive Officer at Mr Green & Co AB, noted that although there were some steep decreases, there were also particularly positive results. He explained that the focus in the first quarter of this year was on investment. The gaming operator put emphasis on entering new markets and also invested in marketing. It is expected that the results from the actions taken in the first quarter will be apparent during this financial year.
Mr Norman said: “The first quarter represented a period of investment and the effect of the investments we have made in marketing, products, and establishment in new markets is expected to yield results in forthcoming quarters.
Mr. Norman explained that the higher spending that took place in the first quarter was a result of the expenses incurred when entering a new market, as well as funding that was needed to create new products.
2015 Milestones for Mr Green & Co
Mr Green was granted a license for the Italian gaming market. The license was granted via Mybet Italia. In addition to this, Mr Green has become a recognized gaming operator in the UK. The company has also focused on development for its mobile gaming products in order to increase compatibility. There is still much room to continue developing the mobile gaming sector of the operator's business.