Mobile Gaming Contributes Mr Green`s GrowthDavid Burgundy | 16 Aug 2016
Gaming operator Mr Green has seen remarkable growth in revenue in the second quarter of 2016. The operator’s revenue is up 8.1%, compared to the second quarter of last year, driven in part by its mobile division.
Overall revenue for this year’s second quarter was 211.2 million. Of that, 90.1 million was contributed by mobile, which showed a 69.1% growth from last year to this year.
While the 85 million in revenue from Mr Green’s Nordic operations was down by 2.9% compared with the same quarter for last year, its operations in the rest of Europe climbed by 16.7% to 119.6 million. It also showed growth from its operations in the rest of the world, which grew from 4.8 million to 6.7 million.
The operator attributed the growth to not only an increase in player deposits, which grew from 550.6 million to a record 601.7 million, but to an increase in player numbers as well. The second quarter of this year saw player numbers increase by 26.5% to 92 721.
Increased marketing costs, live casino product investment, local betting duties and the launch of the operator’s online bookmaker saw its quarterly EBITDA drop from 12.5 million to 12 million. This made for a 5.7% EBITDA 2016 second quarter margin.
The EBITDA margin for the same quarter in 2015 stood at 21.8%. This amounted to 3.1 million versus 2015’s 25 million. However, Mr Green’s 429.7 million revenue for the first six months of 2016 was up 10.2%, compared to the first half of 2015. The operator’s EBITDA for the first half of this year totalled 42.2 million, while EBITDA for the same period last year stood at 66.9 million. This made for an EBITDA margin of 9.8%, compared to last year’s 17.2%. The 13.7 million EBIT showed a drop from last year’s 29.9 million.
CEO Per Norman hailed the operator’s performance. He credited not only an increased focus on the mobile sector, but the launch of the operator’s online bookmaker, changes made at management level and a new technology platform for the company’s notable growth.
Mr Green looks set to continue to grow and evolve, and its recent chances and additions seem to have made it more popular than ever with players looking for a comprehensive, quality gaming experience.