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NEWS 27 April 2018

Mr Green revenue grows 38% in Q1

By Harrison Sayers

Mr Green has released its first quarter interim report of 2018 which shows revenues increased by 38% when compared to the same period last year.

Total revenue reached $43.75m for the first three months of the year compared to $31.71m in Q12017 representing a growth of 38%, well above the companies 20% target.

This increase in revenue was fuelled by a 57.3% customer growth and 40.7% deposit increase during the first quarter confirming the growing popularity of the brand amongst existing and new customers.

These figures helped Mr Green’s EBITDA increase 34% to $5.26m although the EBIIDTA margin actually fell 0.4% to 12% as a result of the consolidation of Evoke Gaming on 2 February. Without the consolidation the margin would have risen to 13.8%.

The company’s growth was attributed to several key factors. They included a strong performance from their launch of their Live Beyond Live casino and the launch of its services in Denmark at the end of last year.

Commenting on the report Mr Green’s CEO, Per Norman, said: We have a unique, competitive customer offering and see a continued favourable outlook. The second quarter started strongly. We also have a robust financial position, with scope for additional acquisitions."

RELATED TAGS: Online | Financial
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