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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About Us

About William HillWilliam Hill PLC is one of the world's leading betting and gaming companies, employing over 12,500 people. Its origins are in the UK where it was founded in 1934, and where the company is listed on the London Stock Exchange. With headquarters in London and Leeds it has a national presence of licensed betting offices in the United Kingdom and is one of the country’s leading online betting and gaming services. In 2012, it established William Hill US and it is now the largest sports betting business in the USA. William Hill also has licensed operations in The Bahamas, Italy, Spain and Sweden and serves online customers in the UK, Ireland and throughout the world from its digital hubs in Gibraltar and Malta. In February 2019, it completed the acquisition of MRG Group, acquiring the Mr Green and Redbet brands, and with it an expanded pan-European footprint in faster growing online betting and gaming markets.