Mr Green posts Q1 2015 earnings decrease as operator expands European services

Malta based igaming operator Mr Green & Co AB stated that it had started 2015 trading in a strong and robust manner, despite posting an EBITDA earnings decrease of SEK 24.4 million (£1.9 million) down 34% on Q1 2014 SEK 37 million (2.8 million)

Releasing a short performance update, Mr Green reported that Q1 2015 opening performance had seen a 26% uplift in game win revenues to SEK 195 million (£15.2 million) up on Q1 2014 SEK 154 million (£12.1 million)

The operator’s governance stated that it was pleased with the strategy and growth of the company which had continued to capture European online casino market share and outperform expectations.

Governance noted that the operator had increased marketing spend in order to shift the company’s reliance on Nordic markets, a strategy which had been outlined in previous corporate updates.

Q1 2015 had seen Mr Green gain an Italian operating licence through its acquisition of Mybet Italia operations. The operators governance will continue to push for further European expansion in its upcoming Annual General Meeting.

Per Norman, CEO Mr Green & Co AB

”The first quarter represented a period of investment and the effect of the investments we have made in marketing, products and establishment in new markets is expected to yield results in forthcoming quarters”

This week Mr Green confirmed that it has begun its appeals process against its Austrian tax liability of SEK 108 million (£9 million) with the European Commission and the Austrian Administrative Courts