Mr Green gives guidance for 2018 and communicates new financial targets at its Capital Markets Day
Today, at its Capital Markets Day, Mr Green guides on an expected revenue growth of at least 40 per cent for 2018 with an EBITDA margin of about 15 per cent. The Group is as of today called MRG and has a new brand profile to reflect the profile as a high growth digital Group.
In the period 1 April–22 May, MRG’s revenue has increased by over 40 per cent compared with the same period 2017. Customer deposits has increased by more than 60 per cent in the same period.
According to MRG’s new financial targets, the Group is expected to achieve annual growth of 25 per cent by 2020. Thereafter, MRG is expecting annual organic growth above the European iGaming market. The EBITDA margin is expected to be 15 per cent 2020 and going forward.
Previous financial targets said that an annual growth of 20 per cent for 2018–2019 with an EBITDA margin of 20 per cent by 2019 was expected. After 2019, growth above the online gaming market with an EBITDA margin of 15 per cent was expected, under the assumption of 100 per cent regulated markets.
Unchanged dividend policy
The dividend policy is unchanged, saying that the aim is to pay a dividend and/or repurchase shares in an amount of up to 50 per cent of consolidated free cash flow unless it is deemed that the Group’s liquid assets are needed to realise the Company’s strategy, future tax payments or need to be set aside to secure additional reserves when warranted by conditions in capitals markets.
New ventures in development of games and esports
At the Capital Markets Day, MRG will tell about its new ventures in proprietary games and esports. The development of games is run in the wholly owned subsidiary Green Jade Games and esports is a joint venture with Gamingzone Entertainment.
Mr Green becomes MRG
As of today, the Mr Green Group will be called MRG and has a new brand profile. The domain is changed to mrggroup.com.
”MRG is a digital, high growth company with a significantly broader operation with more brands and larger geographical presence than a year ago”, says Per Norman, CEO of MRG. “We invest in new innovative digital areas within iGaming and esports. MRG is reflecting our vision ‘Shape the future of the iGaming industry’.”
Agenda Capital Markets Day
|Strategy 2020||Per Norman, CEO MRG|
|Operator business||Jesper Kärrbrink, CEO Mr Green Ltd|
|Growth and marketing efficiency||Magnus Alebo, MD Mr Green|
|The Evoke Gaming turnaround||Fredrik Staël von Holstein, MD Evoke Gaming|
|Operations and product||Antoine Bonello, COO Mr Green Ltd|
|Provider of world class technology solutions||Mattias Wedar, CEO MRG Gametek|
|People & Culture||Roberta Geres, Chief HR Officer Mr Green Ltd|
|Esports||Henrik Stridsman, Customer Advocate|
|Green Jade Games||Ben McDonagh, CEO Green Jade Games|
|Regulatory update||Jan Tjernell, General Counsel MRG|
|Guidance 2018 and financial targets||Simon Falk, CFO MRG|
For further information, please contact:
Per Norman, CEO MRG, tel. +46 72 230 91 91, firstname.lastname@example.org
Åse Lindskog, Director Communications and IR, tel. +46 730 24 48 72,
This information is information that MRG (Mr Green & Co AB) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 23 May 2018 at 08:20a.m. CET.
MRG is a fast-growing, innovative iGaming Group with operations in twelve markets. MRG offers a superior experience in a Green Gaming environment. MRG was founded in 2007 and operates the iGaming sites Mr Green, Redbet, Vinnarum Casino, Bertil, MamaMia Casino, BingoSjov and BingoSlottet. The Group had a turnover of SEK 1,192.0 million in 2017 and has over 300 employees. MRG has gaming licenses in Malta, UK, Italy, casino license in Denmark and Sportsbook license in Ireland. MRG is, through its parent company Mr Green & Co, listed on Nasdaq Stockholm in the Mid Cap segment. Read more at www.mrggroup.com.