Sweden-based gaming operator Mr Green & Co AB released a report on the financial performance of its subsidiary Mr Green Ltd., a company that offers to its customers an online casino, for the fourth quarter of fiscal year 2014.
According to the information posted, Mr Green’s casino platform did quite well in the above-mentioned three-month period as compared to its performance back in 2013.
The operator reported that its revenue from gaming activities rose 28.3% year-on-year to reach SEK174.8 million ($20.7 million).
Earnings before interest, taxes, depreciation, and amortization (items affecting comparability excluded) amounted to SEK17 million ($2 million). Company’s EBITDA grew by 9.4% as compared to the figures posted for the fourth quarter of 2013.
Mr Green’s EBITDA (items affecting comparability excluded) for 2014 increased 26.2% to reach SEK134.8 million ($15.9 million). Items affecting comparability totaled a negative SEK112.1 million ($13.2 million). Of these, SEK108.1 million accounted for the money the operator decided to set aside in relation to its continuing dispute with the Austrian government over a specific tax.
The other SEK4 million comprised costs that were charged with the aim of realizing synergies and reorganization of the company’s operations so as for it to be more effective.
Fourth-quarter EBIT totaled a negative SEK110.4 million ($13 million).
Mr Green’s full-year revenue from online casino games grew by 36.3% to reach SEK659.4 million ($78.1 million).
The company’s board members proposed a dividend of SEK1.30 per share ($0.15 per share).
Mikael Pawlo, chief executive officer of Mr Green & Co AB, pointed out that the company’s constant growth and positive financial performance is due to the fact that it offers its customers “an attractive, secure, and safe gaming experience”.
Last week, it was announced that Mr. Pawlo will step down from his current position in April 2015 and will be succeeded by Per Norman. The latter shared that he was particularly happy with his appointment and that he approved of the operator’s business plan for 2015.
Mr. Norman pointed out that the gaming company is keen on reducing its dependence on its native Scandinavian market. In order to do this, it will focus its attention on some of the other regulated markets in Europe. Not long ago, Mr Green was granted an Italian license through the acquisition of Mybet Italia.
Last year, Mr Green filed an application for obtaining a UK license. Mr. Pawlo shared that the company is still interested in expanding its business on the territory of the United Kingdom.
