New Sportsbook Promises More Green for Mr. Green in 2016Published February 23, 2016 by Lee R
A strong 2015 showing has rendered it the right time for Mr. Green to expand to sports betting.
Mr. Green's online gaming gains for 2015 are sparking the launch of a new sportsbook service.
Strong 2015 the Reason
The decision comes on the spurs of the robust total reeled in for the fourth quarter and the calendar year ending December 31, 2015. Gambling operations revenues, referred to by the company as Quarterly revenue or game win, showed a 15% year-on-year gain to reach SEK201.1 million. The increase is up from the SEK174.8 million posted for the same period last year.
EBITDA also rose substantially, 71.2% to SEK29 million. This is the kind of growth and gain which facilitates entry into a new sector. For Mr Green, the ideal sector is sportsbetting, which is common if not necessary complement to gaming for all large operators these days.
Recovery to Boot
Strong recovery is also another component of effective expansion into a new sector, with optimism promised by the EBIT Q4 total of SEK16.8, a huge turnaround from the negative SEK110.4 million reported for the fourth quarter of 2014.
Full-year game win jumped over a fifth year-on-year, from SEK659 million in 2014 to SEK792.6 million in 2015. EBITDA progressed positively to SEK136.8 million. Expansion into the sportsbook should offset some of the EBIT negative of SEK36 million for 2015, compared to the negative of SEK31.2 million in 2014.
CEO Credits Online Casino Growth
Mr. Green CEO Per Norman said that the company's online casino growth yielded enough revenue increase in 2015 to spur expansion into a sportsbook product for 2016. With Mr. Green so popular to its customers, and with so many of those customers already betting on sports elsewhere, the move comes off as all the more logical, appropriate, and timely.
Sign of the Times
The fact is, any prominent operator that exclusively offers either sports betting or online gambling is losing out on the potential dual patronage of their biggest customers. Look for more operators to follow suit and expand to both sectors this year.