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Sweden – Mr Green wants to outpace market growth

By - 4 May 2016

Having amassed revenues of SEK281.5m (€30.7m) in its first quarter, representing a jump of 11 per cent, online operator Mr Green has said it now wants to outstrip the growth of the European online market.

Revenue from the Nordic regions remained virtually flat at SEK 93.8m with revenue from the rest of the world increasing from SEK 1.8m to SEK 4.8m.

Europe, excluding the Nordic regions, accounted for SEK119.9m of that total, increasing from SEK 99.5m, compared to the first quarter of 2015.

Per Norman, Mr Green CEO, said: “The European online gaming market is expected to grow at about eight per cent in CAGR in the next years, and our long-term goal is to continue to grow at a faster pace than the market.

Over the past six months, we have successfully launched our new mobile products and gaming apps, which have been well received by our customers and won awards internationally. Mr Green’s core strengths are its strong brand and good customer relationships. We believe our strong brand, new platform, strengthened management team and broader product offering put us in a good position to achieve continued growth.”

The company reported an increase in active customers from 86,134 to 94,472. Mr. Green is expected to launch an online sports books in the autumn of this year.

Just prior to the results being announced, Mr. Green appointed Jesper Kärrbrink, who was the President and CEO of Swedish state-owned gaming operator Svenska Spel between 2004 and 2008, as co-CEO.

He said:“It is exciting to be back in the gaming industry, and to be working with one of the industry’s strongest brands. I now get the chance to develop an international product offer and strengthen Mr Green’s position further.”

Mr. Norman added: “We are very pleased to have recruited Jesper. He is a driven leader with extensive experience in online and gaming companies. Jesper will have a strong focus on continued growth and the development of the product offering.”

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