Mr Green aims for sports betting launch as losses widen in 2015

Presenting its 2015 full-year results, the governance of Mr Green & Co AB (Mr Green) has detailed to investors that the company will aim to launch a sports betting product in 2016, as the Malta based operator looks to broaden its European online gambling services.

Presenting its 2015 results, the operator detailed that it had grown its corporate revenues to SEK 792 million (£65 million), up 20% on FY 2014’s SEK 659 million.

Nevertheless, increased operating costs of SEK 199 million, combined with a higher marketing expenditure of SEK 287 million, saw the operator extend operating losses of SEK -36 million (£2.9 million), comparative to FY 2014’s SEK -31 million.

Detailing positives, Mr Green noted that the company had finished 2015 strongly noting a 15% increase in Q4 group revenues to SEK 201 million (£16 million) as the operator saw its online casino activity reach +83,000 players.

Announcing further changes, Mr Green governance confirmed that Jesper Kärrbrink will replace Malta  CEO  Bo Wänghammar, with the leadership change expected to be implemented by summer 2016.

Further governance changes will see Kent Sander elected as Chairman of the Board, the company board expects to confirm the appointment of Sander at the Mr Green & Co General meeting scheduled for 28 January.

Per Norman Mr Green & Co CEO commented on corporate performance

“Our industry is maturing and, in order to enable us to continue our rapid growth and maintain profitability, we have decided to focus on certain specific areas: products, cost control and branding. During the year, we launched a new technological platform and a number of new, world-class products: a new mobile platform, a responsive web design, an iOS app for iPhone and iPad and a new Android app. “

“In conjunction with the development of the new platform and products, we elected to temporarily curtail our marketing efforts during the second half of the year. Nonetheless, we expect that the new platform and products will, over time, result in continued high growth.”

Mr Green & Co – 2015 Corporate Performance Overview