Good third quarter for online casino operator

The Mr Green online casino and sports betting group has reported improved year-on-year performance in Q3-2016, attributing some of it to the introduction of its sports betting service.

The online operator noted the positive impact of a “broadened product range, a growing number of customers and a stronger market position outside the Nordic region” on its performance.

Highlights of the report included:

* Total revenue up 14 percent year-on-year to SEK 229.9 million;

* Revenue generated by mobile products contributed 43.3 percent;

* EBITDA before non-recurring items down 57.5 percent to SEK 17.4 million, impacted by higher local betting duties and increased marketing ( 51 percent) and staff (28.4 percent) costs;

* Active customers increased by 39 percent to 102,429;

* Customer deposits hit an all-time high, soaring 21 percent to SEK 687.2 million;

In terms of geographic contribution to group revenues, the Nordic region continued to lead, delivering 38 percent of revenue, although this quarter revenues were down 7 percent at SEK 86.6 million.

Western Europe contributed 33 percent of group revenues at an improved SEK 76.9 million.

Central, Eastern and Southern Europe revenue rose in the quarter by 39.4 percent to SEK 69 million, and the Rest of the World figure was down 62.4 percent to just SEK 2.5 million.

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