Mr Green records triple-digit profit growth on enhanced marketing efficiency
Operator expects Evoke Gaming acquisition to positively impact EBITDA in 2018 and boost Nordic presence Nicole Macedo 09 February 2018
Mr Green has reported a 103% rise in EBITDA for FY2017 to SEK 185.6m (£16.4m), which CEO Per Norman attributed to strong revenue growth and enhanced marketing efficiency.
During the year, marketing costs were streamlined and dropped 2.5% due to a stronger focus on digital marketing and personalised customer communication.
The operator also saw FY revenues up 29% to SEK 1.1bn (£97m) with organic growth of 26%.
In Q4 alone, the operator saw a 26% increase in revenues to SEK 333 million (£29.4m), with organic growth accounting for 24%.
Group CEO Per Norman described the full-year period as the operator’s “most successful year” to date.
“We delivered on our strategy, Mr Green 2.0, our product offering is better than ever and we expanded geographically. “At the same time, we implemented a unique, industry-leading tool for Green Gaming.”
Speaking to investors this morning, Norman also said he expected the recent acquisition of the Evoke Gaming sports betting brand Redbet to make a positive contribution to EDITDA in 2018 and cash flow from 2019.
Norman said Evoke’s Nordic facing casino brands Vinnarium, Bertil and MamaMia would strengthen Mr Green’s presence in the Nordics, which generated local revenues of SEK 390.3m (£34m) for the 2017 financial year.
Vinnarium casino will be merged with Mr Green’s Garbo casino brand.
The Malta-based operator completed its acquisition of Evoke Gaming and its subsequent brands earlier this month.