Stockholm-listed online gambling group Mr Green & Co, has published its Q1 2018 trading update (period ending 31 March), detailing strong organic growth across its core metrics and KPIs.
In its trading update, Mr Green records group-wide total revenues of SEK 381 million (€36 million) up 38% on corresponding Q1 2017’s SEK 276 million.
The Stockholm enterprise details a period of high activity in which customer deposits rose by 40% to SEK 1.1 billion. Furthermore, Mr Green was able to secure ‘returning customers’ at the +100,000 active player mark.
The firm’s strong revenue performance, would see Mr Green’s governance declare a period EBITDA increase of 34% to SEK 46 million (€4.3 million).
Detailing period highlights, Mr Green’s governance points to a rich organic product mix, with its customers engaging on casino and live games content through multiple verticals.
During the period Mr Green moved to expand its European market portfolio, completing the acquisition of Malta-based multi-brand operator Evoke Gaming for €7 million. In its update, Mr Green has detailed the successful migration/integration of Evoke assets completed during the period.
Closing Q1 2018 trading, Mr Green’s governance details a favourable outlook, with the company confident of hitting it’s 2018 corporate expectations. Updating investors and stakeholder Mr Green & Co Chief Executive Per Norman stated;
“For six consecutive quarters, revenues have exceeded our target of annual growth of 20 percent. This was yet another very strong quarter, with a growth of 38 percent. In local currencies, organic growth was 25.2 percent, up 14.4 percent compared with the fourth quarter. Deposits increased by 40.7 percent during the quarter and customer growth was at 57.3 percent. This is confirmation from our customers that they like our products and brands.”