Posted in Industry May 22, 2018
Mr Green Notches Impressive Q1 Growth, Backed by Strong Live Casino Performance
In its interim first quarter report, Mr Green reported an impressive growth of SEK381m (US$43.9m), representing a 38% increase compared to the same period last year. This marks the sixth consecutive quarter of better-than-average growth for the company, largely driven by its popular live casino options. According to the company’s official financial report, Mr Green & Co AB saw an organic growth of 25.2% in local currency and Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) went up to SEK45.8m (US$34.2m), indicating a 34% increase. Consequently, Mr Green has enjoyed a consistently strong performance over the last six quarters, thanks to several decisive factors.
Firstly, Mr Green won several gaming awards, and its acquisition of Evoke Gaming improves the company’s efficiency and brand influence. Additionally, Mr Green introduced a slew of innovative features to its casino platform like express registration and withdrawals for Swedish clients. However, it’s Mr Green’s live casino suite that includes live baccarat, live blackjack, and live roulette that has primarily driven its growth.
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Improved Product Offering Critical to Mr Green’s Strong Performance
The CEO of Mr Green, Per Norman, attributes the consistent growth and performance of the company to ‘digitally-driven customer communication’ and a substantially enhanced product offering. This includes Mr Green’s popular live casino platform, as well as the new Live Beyond Live concept recently introduced in partnership with NetEnt. Mr. Norman also said that the Q1 performance of its live casino platform was significantly better than in the previous year. Mr Green’s acquisition of Evoke Gaming, a Nordic-facing gaming portal, was another critical driver of growth, leading to the synergy of Mr Green’s services and business. Mr. Norman says that the acquisition will begin to contribute to the bottom line by the third quarter of this year if everything goes according to plan.
Mobile gaming has contributed significantly to Mr Green’s impressive financial performance. The company’s overall revenue increased by 5.8 points in Q1, while customer deposits increased by 30.7 percent, demonstrating growing trust and confidence in the casino. The mobile casino platform has also benefitted from the live casino, specifically from the Live Beyond Live program developed by NetEnt.
Live Beyond Live, Revolutionizing Live Dealer Gaming
Mr Green’s Live Beyond Live offers a unique and immersive virtual casino experience for players on mobile devices. The virtual floor provides a casino environment with four tables, including two roulette and two blackjack tables, where players can move and interact with real players in real-time. They can easily join a table and use the mini-map to move around and explore the other tables available. The virtual system also allows players to see other players participating in the games, adding an authentic touch to the experience. The success of Live Beyond Live and the other advanced technologies in Mr Green’s online gaming platform have been critical to the company’s strong growth. With the integration of Evoke Gaming, Mr Green aims to continue this trend.
Take a look at this introduction to Mr Green’s Live Beyond Live below:
