Mr Green Q3 revenues up 50% YoY
Swedish operator reveals sharp rise in profits for the year to date " less than half of revenues derive from home country
Online casino operator Mr Green has seen revenues rise by more than 60% during the first nine months of 2013 as its increased focus on mobile continues to pay off.
Game win grew to SEK347.6m from SEK217.2m in the nine-month period, while results for the third period were also impressive and revealed a 53% year-on-year increase in Q3 revenues.
EBITDA also rose sharply during the third quarter and totalled SEK31.5m during the period, an increase of 45.3% from SEK21.7m, while the figure for the first nine months was SEK83.5m, a year-on-year increase of 300%.
The company did not break down its results into individual markets, however it did reveal that Sweden accounts for “considerably less” than 50% of sales.
The Malta-licensed firm, which went public in June, put the sharp rises in revenues and profits down to its “secure and exciting game experience” and a focus on mobile gaming.
CEO Mikael Pawlo (pictured) said the company’s growth exceeded the overall online gaming market by some distance, which he estimates has grown by just 9% in 2013.
“Mr Green is continuing to invest in marketing activities and new product development to ensure that the company is positioned to respond to the technology shifts occurring in the market, such as the move toward mobile gaming,” Pawlo said.
“Our Green Gaming initiative, whereby customers themselves set a limit for their gaming activities, combined with an attractively designed and secure game experience and an exciting brand, provide Mr Green with a stable platform to continue to outgrow the market.”