Fourth quarter EBITDA rose 71.2 percent year-on-year
Mr Green and Company AB, a Swedish-listed online casino operator, has reported a strong fourth quarter and improved progress over the full year, highlighting the following performance figures:
In the fourth quarter:
* Revenue up 15 percent y-o-y at SEK 201.1 million;
* EBITDA up 71.2 percent to SEK 29 million, and EBIT of SEK16.8 million (Q4-2014: negative SEK 110.4 million);
For the full year 2015:
* Revenue up 20.3 percent year-on-year to SEK 792.6 million;
* EBITDA up 1.4 percent to SEK136.8 million;
* EBIT still negative SEK 36 million – an improvement on FY 2014 when a negative of SEK 31.2 million was recorded;
* The Board of Directors proposes that no dividend be paid for 2015.
CEO Per Norman reported on the company's plans to launch a sportsbook in 2016 to leverage the cross-marketing opportunities with the company's casino players.
"The online casino Mr Green increased its game win by 20.3 percent in 2015 and experienced growth at more than double the rate prevailing on the market," Norman said.
"The Board of Mr Green Ltd has resolved to broaden Mr Green's offering through the launch of a sportsbook during 2016. This is a natural expansion of our offering since a large number of our current casino customers also play some form of sports betting."
Online Casino News Courtesy of Infopowa