Posted in Industry May 22, 2018
Mr Green Notches Impressive Q1 Growth, Backed by Strong Live Casino Performance
Based on the published interim first quarter report, Mr Green notches an impressive first quarter growth, with a generated growth of SEK381m (US$43.9m). This shows a 38% increase when compared to the same period last year. This is the sixth straight quarter that the company managed to register higher than expected growth, powered primarily by its live casino offering. Based on the interim financial report available on its official website, Mr Green & Co AB registered an organic growth of 25.2% in local currencies. Earnings before interest, tax, depreciation and amortization (EBITDA) increased to SEK45.8m (US$34.2m), or an increase of 34%. There are a number of reasons that explain the strong performance of Mr Green.
According to the company, it’s several gaming awards and the acquisition of Evoke Gaming helped boosted synergy and performance of the brand. Also, the company invested in a number of innovative services on its casino, including the introduction of its express registration and withdrawals, especially for its Swedish customers. But the biggest driver of growth for Mr Green is its live casino platform, a casino suite that includes live baccarat, live blackjack and live roulette.
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Enhanced Product Offering Key to Mr Green’s Performance
According to Per Norman, CEO of Mr Green, the consistent growth and performance of the company can be attributed to its ‘digitally-driven customer communication’ and the presence of enhanced product offering, particularly its live casino platform and the new Live Beyond Live live casino concept that was introduced in partnership with NetEnt. Mr. Norman further shared that the Q1 performance of its live casino platform is significantly bigger than the performance the previous year. Another critical driver for its growth is the acquisition of the Evoke Gaming, a Nordic-facing gaming portal. Mr. Norman shared that the acquisition of the company helped in the synergy of its services and business. And if things shape up according to plan, the acquisition of Evoke Gaming will start contributing to the bottom-line by third quarter of the year.
The mobile component of Mr Green also helped in boosting the financial performance of the online casino. Based on the same financial report, overall revenue for the first quarter increased by 5.8 points. Also, customer deposits increased by 30.7 percent, suggesting increased confidence in the casino. The growth of its mobile casino platform is also partly boosted by the live casino, particularly the Live Beyond Live, a program with NetEnt.
Live Beyond Live, Changing How Live Dealer Games are Played
With the Live Beyond Live platform by Mr Green, players get to experience new technologies when it comes to online gaming. Currently available on mobile only, this new technology allows players to enjoy a truly immersive casino experience. The experience is based on a virtual casino floor which contains a four-table area, boasting two blackjack tables and two roulette tables, with people busy moving in and around the casino floor. Players will also notice the airplanes and helicopters that are flying outside the building, while players are busy attending to their bets. Within the game system, players can easily join a table, and this can be done by clicking a table that a player wants to join. The virtual system also allows player to use a mini map to move around and explore the tables present. The system will also allow a player to see other players who are participating in the games. These are not virtual additions to the system; these are also real players who are using the virtual environment, in real time.
The introduction of the live casino platform and the new technologies that redefine the gaming experience are just some of the reasons why Mr Green is reaping the rewards. And with the formal integration of Evoke Gaming into its ecosystem, it will no longer be a surprise if the company continues its financial streak.
Introduction to Mr Green’s Live Beyond Live, get a taste of it here:
