Mr Green opts for new listing

Mr Green opts for new listing

Monday, November 21, 2016 Posted by Scott Longley
Nasdaq Stockholm comes with new strategy

Mr Green has confirmed it will be listing its shares on the Nasdaq Stockholm stock exchange as the company seeks a broader investment base and a wider understanding of the company and its plans.

Mr Green was previously listed in Stockholm’s microcap index AktieTorget. The company confirmed that no new shares will be issued in conjunction with the new listing.

Per Norman, chief executive, said the new listing was in line with the company’s recent efforts to fire innovation and change through a new technology platform and a matching new business strategy. “Today, we have broader product offering, a new scalable business model and we focus on providing our customers with a unique personalised user experience,” he said. 

“Mr Green is well positioned to continue the implementation of the new business strategy in order to achieve its targets to grow faster than the market with increased profitability and to become the leading player in sustainability and Green Gaming.” 

Last year Mr Green launched a major initiative to drive change, and said it has strengthened the organisation and its management teams in Sweden and Malta. The company has also developed a new flexible technology platform which enables fast implementation of new features and a personalized customer communication.

This new business strategy is built on the five cornerstones of brand, user experience, product offering, geographical expansion and being the leader in sustainability and responsible gaming.

According to the press release announcing the news, the listing comes off the back of an all-time high in customer deposits to SEK687.2m, up 21% on the level achieved in the third quarter last year. This was accompanied by a 39% increase in active customers, to 102,000, compared with the same period last year. Revenues rose 14%, though the company did not reveal any figures.

The company said the hope was the new listing will give Mr Green further access to international capital markets.

Trading on Nasdaq Stockholm is expected to commence on 30 November 2016 and the final day of trading on AktieTorget is expected to be on 29 November 2016.

Totally Gaming says: The Scandinavian-focused online operators continue to forge ahead with their offerings and their business thinking. It will be interesting to hear in the coming months more about Mr Green’s new strategy and which other markets it hopes to target.


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