Mr Green Earns Benefits from Entering Danish Market
Mr Green has posted its full financial report for the year 2017 and we can say the company has definitely made a splash in Denmark with the acquisition of Dansk Underholdning.
A Perfect Match
Mr Green, the Stockholm-based online gambling operator, has acquired all of the shares of Danish-licensed online operator Dansk Underholdning in the spring 2017 for $9 million.
The Danish iGaming company offers a broad range of popular casino products and operates gaming brands like bingosjov.dk, bingoslottet.dk and balletbingo.dk. This acquisition was “a perfect match” since Danish Underholdning generated revenue of $3.9 in 2016 which was 27% higher than reported in 2015.
The Board at Mr Green expected the acquisition to have a positive effect on 2017’s earnings and the cash flow, and also to become a key market for Mr Green. According to the numbers released, they were right.
The 2017 fourth quarter revenue rose more than 25% to a $41.3 million.
Active customer ranks shot up 25.6% to nearly 143.000 while customer deposits were up for 20% to $119.7 million.
Overall revenue increased a whopping 28.9% from 2016 figure of $112.5 million to 2017 figure of $924.5 million. The EBITDA margin grew from 9.9% the previous year to 15.6% with the share price in 2017 rising by 73.9%.
MOST SUCCESSFUL YEAR YET
The year 2017 was the most successful year for Mr Green so far.
They have expanded both geographically and in broader product offering. They added new sportsbook, keno and bingo and enhanced live casino.
Already operating in 12 countries, Mr Green entered the Danish market which undoubtedly boosted the overall revenue for 2.1%even the site launched at the end of the year. It surely is a very promising start.
With the recent acquisition of Evoke Gaming and the launch of Live Beyond Live product, this year is expected to be even more successful for Mr Green.
EXCLUSIVE SIGNUP BONUSES
BestCasinos team consists of online casino experts dedicated to spreading their knowledge and experience to a wider audience, all in effort to help even the most inexperienced players gain their footing in this exciting industry.