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Sweden – Mr. Green enjoys its strongest ever financial year

By - 20 March 2018

Online operator Mr. Green has enjoyed its best ever year with a move into bingo and the launch of its online casino in Denmark being key highlights in a year when revenues increased 28.9 per cent to SEK1,192m.

EBITDA increased by 103 per cent to SEK185.6m

CEO Per Norman said: “We have our most successful year to date behind us. Now we are looking forward to an equally exciting 2018. We will continue to develop new products and gaming concepts, and we will expand into new geographic markets. Mr Green is an innovative fast-grower that always has Green Gaming in focus.”

Kent Sander, Chairman of the Board, added: “For the gaming industry, the most important sustainability issue is Green Gaming. The Board of Directors has given management a clear assignment to prioritise the matter of player responsibility so that healthy gaming does not turn into something unhealthy. It is inspiring for the Board to follow the company’s award-winning and prominent work on Green Gaming.”

Mr Green focused on the Nordic region in 2017, buying Dansk Underholdning and rolling out a new sportsbook featuring instant tennis and new data features. It also bought Evoke Gaming.

Mr. Norman said: “Even after the acquisition of Evoke Gaming, Mr Green has a a continuously favourable financial position. In the spring of 2017, we conducted a directed new share issue of USD24m before issue expenses. We have an explicitly conservative approach regarding the balance sheet and want to have the scope to be able to manage unexpected situations. We have opted for a cautious approach to the tax issue in Austria and made provisions for a high taxation level. The board’s proposal to the AGM of a transfer of USD16 per share to shareholders is confirmation of the strength of our customer offering, our financial position and cash flow.”

Looking to the future, Mr. Green has unveiled its Live Beyond Live offering. In Live Beyond Live, Mr Green opens the door to his virtual casino, a penthouse in Los Angeles. Inside Mr Green’s penthouse the customers will find a multi-table environment with live dealers and a choice of different tables to join. Roulette and blackjack are the games currently available to play on the platform.

The main technological advance with Live Beyond Live is the use of moving background assets in a deep field virtual environment. Some of the other technological advances integrated into the product are multiple tables, additional angles, higher-quality blackjack tables, real time moment of excitement notifications from other tables and improved audio quality.
This innovative project was initiated a year ago when Mr Green searched for a partner who shared their desire to take live casino to the next level. NetEnt saw the opportunity in utilizing the potential of its customizable digital technology and how it can be used to enhance the user experience.

The two companies have shared the development costs for Live Beyond Live and Mr Green has exclusive rights for twelve months. The solution builds on digital virtual assets together with NetEnt’s customizable Chroma Key technology. The studio is located in Malta where 30 dealers, exclusive to Mr Green, manage the tables in this high-tech environment.
Mr Green’s Live Beyond Live is mobile first. During the second quarter, Live Beyond Live will be launched as a desktop solution. The existing live casino will be offered in parallel.

“Innovation and further enhancement of our product offering are key elements in our growth strategy,” said Mr. Norman. “Live Beyond Live is challenging the traditional entertainment space and breaking away from conventional presentation formats. Live Beyond Live will be the pinnacle of change in entertainment.”

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