Mr Green & Co AB (publ) reported today its financial results for the fourth quarter and the calendar year ended December 31, 2015. Quarterly revenue or game win, as the company referred to the proceeds generated from gambling operations, was up 15% year-on-year to reach SEK201.1 million. In comparison, the amount of SEK174.8 million was posted for the same period of the previous year.
Excluding all items that affected comparability, EBITDA rose 71.2% to SEK29 million. EBIT for the period totaled SEK16.8 million compared to a negative of SEK110.4 million reported for the fourth quarter of 2014.
Full-year game win amounted to SEK792.6 million, up 20.3% from the SEK659 million posted for 2014. EBITDA, excluding comparability-affecting items, increased 1.4% year-on-year to SEK136.8 million. EBIT totaled a negative of SEK36 million as compared to a negative of SEK31.2 million in 2014.
Commenting on the company’s financial performance, CEO Per Norman said that their online casino saw considerable revenue increase and growth in 2015. The executive also pointed out that they have decided to expand the operator’s presence in the online gambling market by launching a sportsbook product in 2016. Mr. Norman explained that this move should be considered a natural expansion as most of their existing casino customers also bet on various sports.
During an Extraordinary General Meeting of Mr Green’s Board, held on January 28, 2016, the company’s Nomination Committee proposed that Kent Sander takes his post as Chairman of the Board at the 2016 Annual General Meeting, which is slated to take place on April 21 in Stockholm. In addition, Jesper Kärrbrink has been appointed as CEO of Mr Green Ltd., known to be the gambling operator’s Malta-based online casino division. Mr. Kärrbrink is expected to assume his post towards the end of the summer.
Mr Green & Co AB is a Sweden-headquartered company, focused on the provision of online gambling options. Currently, Mr Green Ltd., which as mentioned above is located in Malta, is the gambling operator’s core investment. The Malta-based company operates an online casino which offers a number of popular casino titles by different providers. It was founded in 2007 and was officially launched a year later.
