Greek Gambling Reform Coming to a Dead End [...]
Mr Green to Launch Sports Betting Website
- February 23, 2016 By Nemanja L. -
Swedish gaming operator Mr Green has announced its plans to expand their offering by adding a sports betting website to the online casino that has been their main source of income in the past.
The Malta-based gaming company presented its 2015 results to investors and at the same time revealed that they would be launching a sports betting site in 2016.
Despite being held in high regard by online gamers everywhere, Mr Green has seen its operating losses increase year on year, and they are forced to alter their strategy in an attempt to start making profit.
Operating Losses Increase in 2015
The operator has seen its corporate revenues in 2015 grow 20% to SEK 792 million (£65 million), a significant increase on the SEK 659 million in 2014.
However, both the operating costs (SEK 199 million) and marketing expenditure (SEK 287 million) have increased, resulting in the operating losses jumping from SEK -31 million in 2014 to SEK -36 million in 2015.
There were some good news though as Q4 revenues increased 15 percent to SEK 201 million, while their online casino following has grown to over 83,000 players.
Some personnel changes were announced as well, with Jesper Karrbrink set to replace Per Norman as the company CEO, and Kent Sander elected the Chairman of the Board.
Per Norman, the current CEO, went on to reveal that the company had decided to focus on products, cost control and branding in an attempt to continue the string growth, with new mobile website, responsive website design, iOS and Android apps some of the products to have debuted in 2015.
Ambitious Plans for the Future
The company chiefs decided to curb marketing spending in the second half of 2015, but they expect the numerous changes incorporated last year will eventually result in increased profits.
Mr Green has quickly established itself as one of the leading online casino websites, with their concept of green gaming and excellent selection of premium slot games proving an instant hit in the online gambling community.
And it is clear that the Swedish operator aims to build on the strong start, with their decision to launch a sports betting website likely to have a positive effect on future revenues.