Having presented a successful Mr Green & Co H1 interim results, in which the company declared its ‘most successful quarter in business’ Chief Executive Per Norman has detailed that Mr Green is now targeting potential acquisitions.
Updating investors, Norman detailed that this June Mr Green governance ‘successfully carried out a directed new share issue to Swedish and international institutional investors’.
Seeking to support the firms effective ‘Business 2.0’ strategy, Norman details that ‘debt-free’ Mr Green holds more than SEK 460 million (£43 million) in cash equivalents to boost its potential M&A strategy.
“Our ambition is to be actively involved in the consolidation of the industry and we are well-positioned to implement acquisitions. We are analysing candidates from across the value chain, although we are currently primarily concentrating on geographic expansion.” Norman detailed to Mr Green investors.
Detailing key ‘geographic expansion’, Norman points to Mr Green’s high ambitions for the Danish online gambling market, in which Mr Green will launch a casino brand later this year.
The Stockholm Nasdaq-listed operator will launch in the Danish market with an established traction having acquired Danish licensed online gambling firm Dansk Underholding for €9 million during Q1 2017.
Extending its brand portfolio and adding new products to its services, Per Norman states that Mr Green will become a further leading Scandinavian gambling group for the European market.