Mr Green plots move into Russian-speaking markets

Mr Green, now known as MRG, is planning to use newly acquired Latvian brand, 11.lv to move into Russian-speaking markets, CEO Jesper Kärrbrink has said.

Speaking at the group’s capital markets day in Stockholm yesterday, Kärrbrink said there was huge potential in these markets and many look to be regulated in future.

Once integrated into the group, 11.lv is expected to contribute to 3-4% of the group’s revenues.

Kärrbrink said the group would take a similar stance in the Baltics as it did in Denmark last year when it acquired local brand Dansk Underholdning and used the licence to move its Mr Green and Redbet brands into the market.

The two founders and current senior execs at 11.lv will retain 25% of the company’s shares and will stay in top management positions.

“We have a stepping stone [into the market] as we have a company and a skillset. We will keep the current management and we will move in Mr Green and Redbet,” Kärrbrink told investors.

Elsewhere the firm heavily ramped up its marketing efforts following the appointments of Redbet and Mr Green brand managing directors, Fredrik Staël von Holstein, and Magnus Alebo.

Group CEO Per Norman said the firm had recruited up to 30 new members of staff at its Malta headquarters, with the intention of improving marketing efficiency across all brands.

MRG reported group revenues were up 38% for Q1 to SEK 381m (£31.8m) thanks in part to its marketing strategy.