Mr Green sportsbook launch to boost growth, new CEO confirmed

Mr Green has revealed plans to launch a new sportsbook service this year in an effort to build on year-on-year revenue growth during the 12 months through to December 31, 2015, while also confirming that Jesper Kärrbrink will take over as chief executive this summer.

Full-year revenue amounted to SEK 792.6 million (€84.3 million/$93.5 million), which represents an increase of 20.3% on the SEK 659 million achieved during the previous year.

Earnings before interest, tax, deprecation and amortisation (EBITDA), excluding items affecting comparability, grew 1.4% year-on-year to SEK 136.8 million, but earnings before interest and tax increased from a loss of SEK 31.2 million to a negative figure of SEK 36 million.

In addition, earnings per share dropped to a loss of SEK 0.96, with the Mr Green board of directors proposing that no dividend be paid for the year.

Mr Green’s mixed full-year results come after a positive performance in the final quarter of the year, during which revenue increased 15% year-on-year to SEK 201.1 million.

EBITDA was also up 71.2% to SEK 29 million, earnings before interest and tax improving from a loss of SEK 110.4 million in Q4 of 2014 to a positive figure of SEK 16.8 million.

Earnings per share for the three-month period also increased from a loss of SEK 2.80 to a plus of SEK 0.47.

Per Norman, chief executive of Mr Green, said: “The online casino Mr Green increased its game win by 20.3% in 2015 and experienced growth at more than double the rate prevailing on the market.”

Norman, who will step down as chief executive in the summer to make way for newly appointed Kärrbrink, also outlined the company’s plans to roll out a sportsbook at some point this year, describing the move as a “natural expansion” for the operator.

“The Board of Mr Green Ltd has resolved to broaden Mr Green’s offering through the launch of a sportsbook during 2016,” Norman said.

“This is a natural expansion of our offering since a large number of our current casino customers also play some form of sports betting.”

Related article: Mr Green claims ‘strong’ progress as revenue jumps in Q3