Posted in Industry May 22, 2018
Mr Green Notches Impressive Q1 Growth, Backed by Strong Live Casino Performance
According to the published interim first quarter report, Mr Green has experienced impressive growth, generating SEK381m (US$43.9m), a 38% increase compared to the same period last year. This marks the sixth consecutive quarter of higher-than-expected growth for the company, primarily due to its live casino offering. The interim financial report on the official website of Mr Green & Co AB reveals an organic growth of 25.2% in local currencies. Earnings before interest, tax, depreciation, and amortization (EBITDA) increased to SEK45.8m (US$34.2m), with an increase of 34%. Several factors contribute to Mr Green’s strong performance.
The acquisition of Evoke Gaming and various gaming awards have synergized and enhanced the brand’s performance. Additionally, Mr Green has invested in innovative services on its casino, such as express registration and withdrawals specifically for Swedish customers. However, the primary driver of growth for Mr Green is its live casino platform, which includes live baccarat, live blackjack, and live roulette.
Enhanced Product Offering Key to Mr Green’s Success
Per Norman, CEO of Mr Green, attributes the company’s consistent growth and success to its digitally-driven customer communication and enhanced product offering, particularly the live casino platform and the introduction of the Live Beyond Live live casino concept in partnership with NetEnt. The Q1 performance of the live casino platform surpassed that of the previous year. The acquisition of Evoke Gaming, a Nordic-facing gaming portal, has also contributed to Mr Green’s growth and synergy. It is expected that the acquisition of Evoke Gaming will start contributing to the company’s bottom-line by the third quarter of the year.
The mobile component of Mr Green has also contributed to its financial performance. Overall revenue increased by 5.8 points in the first quarter, and customer deposits increased by 30.7%. The growth of Mr Green’s mobile casino platform has been boosted by the live casino, particularly the Live Beyond Live program with NetEnt.
Live Beyond Live: Redefining Live Dealer Games
Mr Green’s Live Beyond Live platform introduces new technologies to online gaming, offering players a truly immersive casino experience. Currently available on mobile devices, this technology allows players to explore a virtual casino floor featuring two blackjack tables, two roulette tables, and a bustling environment with other players and moving vehicles outside the building. Players can easily join a table by clicking on their desired choice and use a mini map to navigate the virtual environment. Other real players participating in the games are visible within the system in real-time. The introduction of the live casino platform and these innovative technologies have contributed to Mr Green’s success. The integration of Evoke Gaming into its ecosystem is expected to further strengthen the company’s financial performance.
Get a taste of Mr Green’s Live Beyond Live here:
