Online gambling operator Mr Green reported a 14% increase in revenue generated during the third quarter of the year to a total of SEK229.9 million. Mobile accounted for 43.3% of the overall Q3 revenue posted. The growth was attributed to the company’s diversified portfolio of product offering, an increased number of gambling customers, and improved market position beyond the Nordic region.
Revenue from that particular region accounted for 38% of the whole. Western Europe contributed 33%, Central, Eastern, and Southern Europe generated 28%, and revenue from other, non-European, regions accounted for 1% of the whole.
EBITDA amounted to SEK17.4 million, down significantly from the amount of SEK40.8 million reported for the same quarter of the previous year. Earnings were impacted negatively by higher marketing costs and increased local betting duties. EBITDA margin stood at 7.6% during the reviewed three months, compared to a 20.2% margin posted for the same period of 2015.
Mr Green hit an all-time high in the number of active customers during this year’s third quarter as a result from its efforts to strengthen its positions in certain key markets. The company reported as many as 102,000 active customers for the period in review, up 39% from the prior-year period.
It was last year when the iGaming operator announced that it would develop a new, more flexible, technology platform that would allow it adopt new functions quickly and without much effort. The launch of a sportsbook came as one of the first manifestations of Mr Green’s determination to diversify its offering. The company launched its sports betting product in June, well ahead of the original deadline and right in time for the UEFA Euro 2016 championship.
Mr Green had also decided to leverage on the growing market opportunities of the live casino segment and launched dedicated live casino offering towards the end of the quarter. The operator indicated in its quarterly report that it would continue exploring and exploiting its new technology platform’s full potential in order to provide customers with improved gambling options and communication.
For the nine months ended September 30, 2016, Mr Green’s revenue increased 11.5% to SEK659.6 million. EBITDA dropped from SEK107.7 million for the same period of 2015 to a total of SEK59.5 million, or almost by half. EBITDA margin stood at 9%. The gambling operator reported that it had 188,495 active customers for the reviewed period, up 26.5% from the prior-year nine months.
