Good first quarter for Mr Green online casino

The Swedish online casino operator Mr Green has posted a positive first quarter result, reporting that non-Nordic European markets rose encouragingly, enabling a 12 percent increase in revenues despite the Nordic business remaining largely flat.

Revenues reached SEK 218.5 million (around GBP 18.7 million) in Q1-2016 and EBITDA was up 24 percent at SEK 30.2 million, boosting earnings per share by 0.55 SEK cents to SEK cents 0.68.

Results from the non-Nordic operations in Europe were particularly rewarding, rising from SEK 99.2 million in Q1-2015 to almost SEK 120 million in Q1-2016, but Nordic revenue lagged at a flat SEK 93.8 million, and the rest of the world jumped almost four-fold from SEK 1.8 million to SEK 4.8 million.

Overall, the number of active players rose to 94,000 (Q1-2015: 86,000).

Management is anticipating good things from the coming autumn launch of a sportsbook in partnership with Kambi (see previous reports)