Internet casino Mr. Green has released its latest set of financial results, noting that revenues continue to grow at a high rate.
Key financial indicators for the nine month period ending September 30th, 2014 were:
Revenues of SEK 484.6 million, up 39.4% from the first nine months of 2013
EBITDA of SEK 117.9 million, up 41.3% from the same period in 2013
Third Quarter 2014 numbers were:
Revenues for the group were SEK 168.5 million, up 35.8%
EBITDA of SEK 42.4 million, up 34.5%
Marketing costs of SEK 58.8 million, up from 46.8 million last year
Earnings per share were SEK 0.76, up from SEK 0.49 during the same period last year
Active customers of 66,266
Commenting on the results Mr. Green CEO Mikael Pawlo said, "The Mr Green online casino is continuing to drive its organic expansion outside the Nordic region."
"In the third quarter, the Nordic region accounted for 53.6 (62.9) percent of total game win. The rest of Europe accounted for 45.4 (36.6) percent of game win."
"The company still has plans to expand outside the Nordic region, primarily in Europe, and therefore Austria remains an attractive market. We feel that it is strategically important that we are not solely dependent on the Nordic region or any other region."
"Our focus on mobile gaming is now beginning to gain real momentum. Mr Green’s mobile casino accounted for 24.1 percent of total game win at the end of the third quarter. Investments in the mobile platform are significant and will continue to be substantial throughout 2014."
"These are important investments if we are to maintain our lead. We expect continued robust growth in the mobile segment as our gaming suppliers deliver more mobile gaming titles and as a larger proportion of the gaming catalogue is adapted to mobiles.:
"Our assessment is that the Mr Green strategy of continuing to invest in product development, particularly for mobile applications, and expansion into new countries will create favourable conditions for continuing to significantly outgrow the market.”