Mr Green reports 12% Q1 revenue increase

Mr Green this morning posted a 12% rise in revenues for the first quarter of 2016, growth the operator partly-attributed to recent investment in its mobile product.

Total revenues for the three months ended 31 March were SEK218.5m (?18.6m), an all-time quarterly high for the firm, while EBITDA increased by 24% to SEK30.2m (?2.6m), with margin at 13.8%, up 1.3% compared to the same period last year.

Mobile devices accounted for 35% of revenues- a 37% jump compared to the same period last year and a 13% increase on the previous quarter.

“Over the past six months we have successfully launched our new mobile products and gaming apps, which have been well received by our customers and won awards internationally,” Per Norman, Mr Green & Co CEO, said.

While its performance in the Nordic region remained stable, revenue grew by 21% to SEK199.9m (?17m) in its Rest of Europe region while there was also an increase in revenues from the Rest of the World, which grew from SEK1.8m (?150,000) to SEK4.8m (?410,000).

Active customers online rose 9.7% year-on-year to 94,472, the firm added.

The company said it still expected to launch its Kambi-powered sportsbook “at the latest this fall”. Norman described the new product as the “perfect match” to its offering.

Mr Green’s previously announced switch to the Nasdaq Stockholm exchange is expected to be completed in 2016.

Last month, the operator completed its integration onto Playtech’s Open Platform, giving it access to the supplier’s library of games, bonusing tools and customer retention capabilities.

Earlier this month, former Svenska Spel chief executive Jesper K?rrbrink took over as CEO of its Malta business.

“We believe our strong brand, new platform, strengthened management team and broader product offering put us in a good position to achieve continued growth,” added Norman.

Mr Green’s share price was up 2.5% to SEK36.50 after early morning trading.