Mr Green back in black as revenues up 64%
Mobile focus and increased marketing spend sees revenues rise in maiden public results
Mr Green has reported a big rise in revenue and profits for the first half of 2013, its first financial results since the Swedish operator went public in June.
The Malta-licensed online casino’s revenues increased by 64% to SEK223.5m in January-June period, while profits totalled SEK52m (£5.1m) compared with a minor loss for the corresponding 2012 period.
Results in the second quarter were also favourable, with revenues increasing 77% year-on-year to SEK114.6m. Profits rose to SEK27.4m compared to SEK3.6m in Q2 2012.
Marketing expenditure totalled SEK85.4m, up from SEK72.7m in H1 212, which comprised 38.2% of revenue for the period. Other expenses stood at SEK48.8m which included costs for the listing on AktieTorget of SEK4.7m.
Mr Green CEO Mikael Pawlo told eGaming Review the continued high growth was in part down to an increased focus on mobile and tablet.
While mobile revenues were not broken out in the results, Pawlo said the success of the Mr Green brand on these channels was “crucial” to the company’s future growth.
“Through a carefully planned investment in smartphones and tablet computers with a firm focus on the gaming experience, the online casino Mr Green has good potential to continue to outgrow the market,” said Pawlo.
The move to take the company public came after a major shareholder, private equity firm Transferator AB, distributed its entire holding among the group and its shareholders, and its SEK28.90 share price at the time valued the business at around SEK1bn (£97.6m).