Mr Green looks to geographical expansion following successful Q2

Mr Green looks to geographical expansion following successful Q2

Thursday, July 27, 2017 Posted by James Walker

Following a successful second quarter, online casino and sportsbook Mr Green is now targeting potential acquisitions as it looks to expand to new markets.

In the three months to June 30, revenues for the group rose 36.3% to SEK287.8 million ($35 million). EBITDA increased by 337% to SEK52.4 million ($6.4 million).

In order to continue its growth, Mr Green CEO Per Norman said the company intends to further its geographic expansion, with ambitious plans for an online casino launch in Denmark.

The Stockholm Nasdaq-listed operator acquired Danish licensed online gambling firm, Dansk Underholdning, for €9 million during the first quarter of the year.

Discussing the group’s plans during an earnings call earlier this week, Norman said: “We are continuing to review new opportunities for organic expansion into new markets. We are actually moving into being a broader entertainment company, to offer a broader offering to our customers.”

He added: “We have clearly pointed out that we want to be in regulated markets. There are a number of markets in Europe [and] we have also mentioned Latin America. That's a very long-term strategic move that will take time, but that is a continent that we want to move into.”

Totally Gaming says: As it looks to continue its strong momentum throughout 2017, further geographical expansion is seen as the next step for Mr Green. While acquisitions will help to expand the brand around the world, the company has made it clear that it will not lose sight of the regulated markets it currently serves.

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