Posts

Mr Green Acquires Evoke Gaming

Stockholm-listed gaming operator Mr Green has acquired Evoke Gaming including Redbet

Mr Green has signed an agreement to acquire Evoke Gaming, the deal includes a number of Evoke operated gaming sites such as Redbet, Vinnarum casino, Bertil and MamaMia, all of which are primarily focused on Sweden and other Nordic markets.

Evoke Gaming is a Malta-based company, which currently has 82 employees.

The Swedish operator purchased the casino and sportsbook firm for the amount of €7m, which will be paid in cash. An additional amount of €1.5m may be payable if certain conditions are met.

According to Mr Green, Evoke Gaming generated revenue of €15.5m in 2016, while the earning loss amounted €4.6m that year. For the first nine months of 2017, revenue amounted €7.4m and earning loss was €4.4m in total.

Mr Green claims that Evoke’s revenue and earnings were negatively impacted by the migration to a new technology platform and restructuring measures that are expected to be done by the time the acquisition is completed in the first quarter of 2018.

After the deal is done, Fredrik Staël Von Holstein will remain head of Evoke’s operations and will become a member of Mr Green’s management team in Malta.

Per Norman, CEO of Mr Green & Co, said, “Evoke Gaming is an ideal fit for our business plan and strategy. We are pursuing our strategy of nurturing a small number of strong brands that can work globally. With Redbet and Mr Green, we have two immensely strong brands addressing different segments and we see major potential to expand Redbet into our existing markets.”

Fredrik Staël von Holstein, CEO of Evoke Gaming, said, “Evoke Gaming is on the threshold of a significant turnaround. Mr Green will give us the muscles to continue growing internationally in an effective manner.”

 

Launch of redesigned Mr. Green’s online sports wagering website

An updated version of Mr. Green’s online sports wagering website has been launched. The renewal of the domain includes innovative betting prompts that have been created to support punters in placing smarter bets. This is the first of its kind within the industry.

The Mr. Green website, operated by the Stockholm-based company Mr. Green & Co AB, was redesigned to offer customers new features such as the new mobile feature Instant Tennis and the Combi Spin Football service. It also offers clients more than 17.000 bet prompts per week under the stamp of Bet Assist.

As stated by Mr. Green, the innovation of Instant Tennis was developed within the company and the features “engaging visualizations” at the side of “suspense-filled and super-fast betting” provide an “entertaining experience” and allow punters to appoint their own odds. Users can also to spin in order find their favoured match selection.

Features of the new look, which have already been introduced to clients from Ireland and the UK, also encompass improvements to its overall design as well as the navigation facilities. In addition to that, Betterlogic uses the analytical and modelling tool, owned by the developer, to generate new content.

Mr. Green & Co AB’s Chief Executive Officer Per Norman stated: “The launch of our new sportsbook embraces the five cornerstones of our business strategy Mr. Green 2.0 brand; user experience, product offering, geographic expansion and being the leader in Green Gaming. The Green Gaming aspect is especially important since the new features help our customers in making informed betting decisions based on expert insight. I think we offer the first sportsbook that really tries to support customers in betting smarter.”

Relive the highlights from our last show and stay tuned for this year’s SiGMA. Watch out for what we’re branding as the ‘iGaming Village’ this year.

Are you an operator looking for top affiliates? Are you a top affiliate looking for a nice treat with like-minded affiliates playing at the same level?

Mr Green purchases online gaming company Dansk Underholdning

Malta-based and leading European online gaming company Mr Green plans to launch their online casino in Denmark this year after today purchasing all of the shares of the Danish online gaming company Dansk Underholdning.

Dansk Underholdning the multi-branded bingo and casino operator who holds a Danish casino gaming licence has a very strong base in the Danish gaming market. Seeing that Dansk Underholdning was a cash acquisition, the board of directors of Mr Green plans to propose no dividends to be paid for the 2016 financial year at their Annual General Meeting.

Mr Green's stand at SiGMA 2016

Mr Green’s stand at SiGMA 2016

Mr Green offers casino and sportsbook games with a vision of expansion into new geographic markets. This purchase aligns with their vision and is expected to have a positive effect on their earnings per share and operating cash flow in 2017.

In 2016, Dansk Underholdning generated revenue of approximately EUR 3.9 million. They also reported a year-on-year growth of 27 per cent.
Some of the well-known brands that are housed under Dansk Underholdning include Bingosjov and Bingoslottet och Balletbingo.
Peter Eugen Clausen, CEO and co-founder of Dansk Underholdning is expected to stay on as CEO of the company after the acquisition.

The purchase consideration is calculated using an EBITDA multiple of seven for the annualised earnings during the period May 2016 up to and including March 2017. The acquisition is cash financed with an initial purchase consideration of approximately EUR 9 million in March/April 2017 and an additional purchase consideration of maximum EUR 650,000 may be triggered in April 2018 provided that certain conditions have been met.

Mr Green is expected to be launched along Dansk Underholdning’s existing brands with synergies happening with the introduction of the various products and services Mr Green has to offer in Denmark.

Per Norman, CEO of Mr Green & Co. stated: “Since we are focusing on expanding to locally regulated markets, an acquisition in Denmark has been high on our list. Dansk Underholdning is a successful company that we warmly welcome into the Mr Green family”.

Peter Eugen Clausen, CEO and co-founder of Dansk Underholdning commented: “We are excited to become part of Mr Green, which, in my opinion, is one of the most skilled operators in the industry. The deal is a perfect match as it combines Mr Greens competencies and economies of scale with the Danish presence and local knowledge of Dansk Underholdning. We look forward introducing Mr Green in Denmark.”

The acquisition is conditional on the approval of the Danish Gambling Authority and consolidation is expected to take place in April 2017.

Mr Green becomes Front Runner TV first sponsor

The Malta-based online gaming operator Mr Green has become the first sponsor of the self-labelled UK’s only free to air sports TV channel Front Runner (frontrunner.tv).

Front Runner was launched last October and is a digital broadcaster which is currently available on Freeview channel 91 and sky channel 468. Their sports content is combined with sporting documents and sports-focused reality TV-shows.

The exclusive Front Runner UK content includes TV shows such as ‘M80’ (motocross), ‘ThrillBillies’ (reality stunt show), ‘The Adventures of Danny & the Dingo’ (snowboarding) and ‘Built to Shred’ (skateboarding).

The Front Runner management announced last Friday their first broadcast partnership with the gaming operator and will be promoting the mobile and desktop services of the newly Nordic Nasdaq-listed Mr Green on their first broadcast partnership.

In compliance with the UK advertising standards and marketing practices, Front Runner will only be promoting Mr Green services after UK 9pm watershed.

The deal commenced on Friday 20 January and Ryan Scarratt MD of Front Runner TV updated the stakeholders and media stating: “Now the channel is established we are inviting more brands to contact us to be part of the future success.”

Mr Green recently won the awards for Innovative App of the Year and Best Casino App of The Year at the 2016 Gaming App Awards.

Mr Green appoints Acting CEO for Technology Company

Stefan Gustafsson has been named as acting Cheif Executive Officer (CEO) of Mr Green & Co Technology company after the departure of Niclas Enhörning.

The former CEO’s departure from Mr Green comes as a result of him making way to start up his own business. Enhörning has served as Chief Executive of the division since 2014.

Enhörning successor Gustafsson has held many senior roles within the IT industry such as Cheif Information Officer at Elon Group, Boxer and Com Hem.

Chief executive of the Mr Green parent company Per Norman stated:

“Niclas Enhörning has successfully led the work of developing our new technology platform, which was launched at the beginning of the year.

“With the new technology platform, we can quickly implement new features and improve the development of our data-driven customer communications.

“Through the technology platform, we have been able to develop a new business strategy which we are now implementing.

“Niclas is planning to start up his own business; I would like to express my appreciation for his work and would like to wish him all the best in his future career.”

Mr Green Moves its Main Market Listing to Nasdaq Stockholm

Online gambling company Mr Green has announced that the company has officially moved its main market listing from Sweden’s mid-sized AktieTorget to the bigger Nasdaq Nordic Market.

The European iGaming operator was founded in 2007 and is now the 76th enterprise to list at Nasdaq’s Nordic markets in 2016.

Earlier last month, Mr Green’s governance stated that it would change its main listing, given that it was a “logical step” for the company’s long-term progression.

Mr Green also believed that its placement on the main Nasdaq Scandinavian market would help the operator in its quest to target international growth, helping it to attract a broader range of investors.

Commenting on the firm’s Nasdaq Nordic listing, Mr Green CEO Per Norman said: “We launched our new technology platform earlier this year and have already started to implement and deliver on our new business strategy, and there is no doubt that our customers like the new Mr Green.”

He added: “I am happy and proud of what our organisation has achieved in such a short period of time and look forward to our journey of change towards continued growth.”

Adam Kostyál, Senior Vice President and Head of European listings at Nasdaq, also commented: “We welcome Mr. Green to the Nasdaq Stockholm main market, where it will make a compelling addition to our consumer services sector.

“Mr Green is yet another example of an online gaming company leveraging Nasdaq Stockholm as a platform for future growth, and we congratulate the company on its listing.”

Reuters reported Mr Green’s financial targets in conjunction with the new listing, stating that the company plans to achieve annual organic growth that exceeds the online gaming industry.

Follow us on Facebook and Twitter for more updates.

Mr Green Granted Approval for Nasdaq Stockholm Listing

Online gambling company Mr Green & Co AB has been granted the right to a public offering on its stock exchange by the Listing Committee of the Nasdaq Stockholm.

Mr Green governance declared while updating the market and company stakeholders that the operator would target a 30 November float on the Nasdaq Stockholm, moving its prime listing from the Swedish Aktie Torget market.

Mr Green CEO Per Norman issued a corporate statement, declaring: “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.”

Backing the decision, Mr Green’s board stated to investors that it viewed a Nasdaq Stockholm IPO as a “logical and important step in the company’s development and the continued implementation of its new business strategy.”

While confirming its potential Nasdaq placement, Mr Green governance further states that its IPO plans would help the operator to secure a bigger group of investors for its ongoing international growth strategy.

Mr Green’s EBIDTA results in its 2016 trading have been impacted by higher costs attached to increased taxes and operational expenses, despite the operator recording higher corporate revenues.

Moving forward, Mr Green governance will release a prospectus for the listing on Nasdaq Stockholm which is expected to be published on 29th November.

Follow us on Facebook and Twitter for more updates.

Mr Green Enjoys Revenue and Customer Number Increase in Q3 Report

Online gambling company Mr Green has released its interim report for the third quarter, reporting an increase in total revenue of 14% to SEK 229.9m.

Detailing factors behind the rise, the online operator noted the impact of a “broadened product range, a growing number of customers, and a stronger market position outside the Nordic region.”

Revenue generated by mobile products during the July-September period contributed to 43.3% of the total.

Compared to the previous quarter, EBIDTA before non-recurring items dropped by 57.5% to SEK 17.4m.

Mr Green attributed this decline to higher local betting duties and increased marketing costs.

The number of active customers grew by 39% to 102,429, while customer deposits hit an all-time high, climbing by 21% to SEK 687.2m.

CEO Per Norman commented: “During the period we continued to work intensively on implementing our new business strategy, which we call Mr Green 2.0.

“The business strategy is built on five cornerstones: brand, user experience, product offering, geographical expansion and being the leading player in Green Gaming (responsible gaming).

He went on to say: “I am happy and proud of what our organisation has achieved in such a short space of time and look forward to our journey of change towards continued growth and increased profitability.”

Mr Green will also be showcasing at SiGMA16 – Malta’s biggest upcoming gaming event. If you’re interested in joining this iGaming summit in November, click here to register today.

Mr Green launches its Sportsbook today

Online gaming operator and SiGMA16 exhibitor Mr Green has announced, that their portfolio extends with a Sportsbook today.

The new product in the operator’s offer is powered by Malta-headquartered provider Kambi, which has managed the integration process with “the highest priority”.

Malta-licensed operator launches its sportsbook ahead of schedule announced in Fenbruary – a few days before the awaited UEFA Euro 2016’s kick-off on Friday.

Per Norman, CEO of Mr Green & Co AB commented: “By launching a Sportsbook, we are meeting our customers’ demand for betting and odds. Together, we have managed to build the Sportsbook in record time thanks to our new, efficient product platform. We have built a Sportsbook of the same high quality as our online casino and I’m happy that we can launch the Sportsbook ahead of the European Championship.”

“I’m proud that Kambi together with Mr Green, have successfully empowered the company to launch its Sportsbook ahead of schedule”, said Kristian Nylén, CEO of Kambi Group Plc. “Our agile integration capability will allow Mr Green to benefit from the upcoming European Championship, and offer its customers a personalised sports betting experience”, he added.

Meet Mr Green at their stand during SiGMA16 – register today on https://maltaigamingsummit.com/register/

Mr Green announces 12% Revenue Increase in Q1

This morning, Mr Green posted a 12% rise in revenues for 2016’s first quarter. The growth is partly attributed to recent investment in its mobile product. Total revenue for the three months until 31st March were SEK218.5m (€23.82m), an all-time quarterly high for the firm, while EBITDA went up by 24% to SEK30.2m (€3.3m), with margin up by 1.3% to 13.8% compared to the same period last year.

Mobile devices, at a 37% jump compared to the same period last year, and a 13% rise in the previous quarter, accounted for 35% of revenues.

Per Norman, CEO of Mr Green & Co, said “Over the past six months we have successfully launched our new mobile products and gaming apps, which have been well received by our customers and won awards internationally.”

While remaining stable in the Nordic region, revenue rose by 21% to SEK199.9m (€21.8m) in the Rest of Europe region, while the Rest of the World’s revenues went up to SEK4.8m (€523,000) from SEK1.8m (€196,000).

The firm added that there was a year-on-year rise of active customers online of 9.7% to 94,472.

The company still expects to launch its Kambi-powered sportsbook “at the latest this fall.” Norman described the new product to its offering as the “perfect match”. The switch to the Nasdaq Stockholm exchange previously announced by Mr Green is expected to be finished in 2016.

The operator completed its integration onto the Open Platform of Playtech last month, giving it access to the supplier’s library of games, bonusing tools and customer retention capabilities. Jesper Kärrbrink, former chief executive of Svenska Spel, took over as the CEO of its Malta business earlier this month.

Norman added: “We believe our strong brand, new platform; strengthened management team and broader product offering put us in a good position to achieve continued growth.”

After early morning trading, Mr Green’s share price was up by 2.5% to SEK36.5.