Redeye: Mr Green - A record year in the making

MRG presented yet another solid quarter with both net sales and profits almost spot-on our projections. The marketing push during Q2 seems to have, as we thought it would, paid off and the company grew their revenue organically by 27.8% in local currencies. We believe that MRG will end the year in high fashion, and project a continued strong growth during Q4. We have made some minor forecast adjustments due to the continued improved marketing efficiency and raise our Base-case valuation slightly. We continue to view MRG as attractively valued.

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This is a press release from Redeye - Research Powered Investment Banking. https://www.redeye.se/about/

About Us

MRG is a fast-growing, innovative iGaming Group with operations in 13 markets. MRG offers a superior experience in a Green Gaming environment. MRG was founded in 2007 and operates the iGaming sites Mr Green, Redbet, 11.lv, Winning Room, Bertil, MamaMiaBingo, BingoSjov and BingoSlottet. The Group had a turnover of SEK 1,192.0 million in 2017 and has over 370 employees. MRG has gaming licenses in Denmark, Ireland, Italy, Latvia, Malta, Sweden and the UK. MRG is listed on Nasdaq Stockholm in the Mid Cap segment under the name Mr Green & Co AB (ticker MRG). Read more at www.mrggroup.com.

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