Global Gaming revenues up 266% on Ninja Casino Nordics growth
Operator looks to expand its European reach in 2018 and apply for new licences
Swedish operator Global Gaming has reported a Q1 revenue increase of 266% to SEK 198.6m (£16.9m), with its flagship brand Ninja Casino up 451% on the previous year.
The brand accounted for 82% of the group’s overall revenues for the period, while group EBITDA rose 285% to SEK 111.2m (£9.5m) with a margin of 56%, up 3pp on Q1 2017.
Acting Group CEO, Joacim Möller, attributed the significant growth during the period to an aggressive marketing strategy for Ninja Casino in the Nordics.
Marketing costs increased by 590% to SEK 63.5m (£5.4m) following a targeted advertising campaign in Sweden via television, radio, online and print media.
The operator plans to double its workforce in 2018, with hires being carried out across its Malmo, Tallinn and Malta offices.
Möller said the firm was in the last stages of applying for its Estonian licence.
He also said Global Gaming will be applying for further European licences during the year.
Analyst firm Redeye said in a note this morning: “We believe the company is well positioned to continue their journey. The growth will be driven by increased marketing, in addition to further geographical expansion and the upcoming launch of the new brand.
“Regarding the mid-term prospects, we are still relatively conservative in our assumptions.”
Möller took over as CEO in April after founder Stefan Olsson stepped down for the position in favour of a more hands-on development role within the company.