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Mr Green revenue up for H1

Mr G

MrGreen
reen grew its revenue by 10% year-on-year to SEK 429.7m (£37.9m) for the first half of 2016.

Operating profit (EBITDA) was SEK 42.2m, down from SEK 66.9m, which was partially put down to SEK 41.9m being paid in betting duties in Austria that were not in place a year ago.

Earnings per share dropped from SEK 0.69 to SEK 0.55.

For the second quarter alone, revenue went up 8% to SEK 211.2m, with SEK 204.5m of which being generated by European operations.

Within that European revenue, SEK 85m was generated by the Nordic region, slightly down from Q2 2015.

Revenue from the rest of Europe improved, ascending 17% to SEK 119.6m.

When addressing Q2, Mr Green CEO Per Norman said: “Earnings were affected by local betting duties, increased marketing costs, investments in Live Casino and the sportsbook.”

The sportsbook that Norman was referring to launched in June, just a few days before the start of UEFA Euro 2016, marking the operator’s first expansion beyond offering online casino games.

Mr Green also plans to list itself on the Nasdaq Stockholm exchange, moving from the unregulated AktieTorget list, and appointed financial and legal advisors in the period with a view to doing so.

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