Mr Green reveals revenue growth in first half
Mr Green has reported a 10.2% year-on-year increase in revenue in the first half of 2016, despite losses elsewhere.
Total revenue for the six months to June 30 came in at SEK 429.7 million (€45.4 million/$50 million), up from SEK 390 million last year.
However, earnings before interest, tax, depreciation and amortisation (EBITDA) fell from SEK66.9 million to SEK42.2 million, with a lower margin of 9.8%, while earnings before interest and tax also dropped from SEK29.9 million to SEK13.7 million.
The first-half results come as the firm also published details of its performance in the second quarter, during which revenue climbed 8.4% year-on-year to SEK211 million.
Other key figures from the period include an all-time mobile revenue high of SEK90.4 million, up 69.4% on the previous year, although EBITDA dropped from SEK42.5 million to SEK 12 million, due to local betting duties, higher marketing spend, investment in live casino and the launch of the firm’s sportsbook.
Per Norman, chief executive of Mr Green, said: “The strategy and the initiatives that have been adopted and implemented over the past year, including a new technological platform, a focus on mobile gaming, the broadening of our product range to include a sportsbook, a stronger focus on the live segment, a strengthened management team and a new CEO in Malta, are now starting to bear fruit at the operational level, putting us in a good position to deliver continued growth.”
Related article: Mr Green rolls out sportsbook ahead of Euro 2016