Global Gaming names new CFO as revenues climb 93%
Ninja Casino made up 93% of group revenues while ad spend surged 240% in Q3
Global Gaming has appointed former Evolution Gaming Malta CFO, Niklas Jönsson, as group CFO to succeed Christoffer Tell as from January 2019.
Tell will act as an advisor to the senior management for an interim period, before stepping down form the company in February 2019.
The company today reported Q3 revenues of SEK 253.1m (£21.7m), up 93% on the previous year, with flagship Pay N Play casino brand Ninja Casino contributing 91% of group revenues.
Ninja Casino revenues increased 11% on the previous quarter with mobile making up 75% of income.
Marketing costs for Q3 increased by 240% on the previous year as the operator continued to push its Ninja Casino and SpelLandet brands in the Nordics. Ad spend accounted for 27% of group revenues.
Group CEO Joacim Moller said the Malmo-based operator was focusing its efforts on developing its in-house platform with particular focus on a new front-end.
Moller said: “Our new front-end platform comes in addition to keeping us in the technical front for a considerable amount of time to come.”
The group is also preparing to launch its casino brands in Estonia, where it was granted a licence during the quarter.
Global Gaming is also in the process of developing a Kambi-powered sportsbook, which is set to be launched in before the end of the year.
On the report, Redeye analyst Kristoffer Lindstrom said: “The next chapter in Global Gaming´s success story will, most likely, be growth in new markets.
“Based on Ninja Casino´s traffic data, approximately 15-20% of the revenue is from the Finnish market,” he added.
“We believe that the Ninja Casino brand can continue to grow faster than the market in Finland for the coming quarters.”