A nearly 7% increase in Stockholm followed the announcement on Wednesday morning considering the rebrand and new financial targets announced by MrGreen. Now referred to as MRG, the major online operator also broadcasted that it expects an increase of at least 40% in 2018, with a 15% EBITDA margin.
Apart from rebranding to MRG, the leading Swedish online operator also inked an agreement to acquire the Latvian gaming operator 11.lv, the 3rd biggest in the iGaming industry. The re-branding move forms part of the operator’s strategy to create the profile of a high growth digital company, the team will action this initiative in conjunction with its new financial goals for e-sports and gaming development.
The Baltics, including Lithuania, Estonia and Latvia is subject to the regulations in all countries and the region stands out for its robust reported growth reaching 45% in the iGaming market during 2017.
Major Strategy to Expand in Regulated Markets
MRG, CEO, Per Norman, shared in a press conference, that this major step in strategy offers the operator the perfect opportunity to expand in locally regulated markets. The company foresees an exceptional growth opportunity for both their strong Redbet and Mr Green brands in the Baltics.
11.lv, 3rd Largest iGaming Brand with Focus on Sportsbook
11.lv is the 3rd largest Latvian iGaming brand and is already well-known for its sportsbook focus, licensed in Latvia and the brand features classic casino table games and slots, live casino and sports betting. 11.lv revenues reached €162k in EBITDA, in Q118 €944k while showing, during the Q117, a 44% growth in revenue.
A 25% share remains the property of the two founding members who agreed to stay with the company, after MGR acquired 75% of its shares. The €2.8 million purchase price comes based on an enterprise value worth €3.7 million (debt free). The first step planned by MRG is to continue expanding its international footprint by launching Mr Green into Latvia, which combined with 11.lv would enable the brand to provide the Baltic market with an attractive and broad offering.
Apart from the Mr Green brand as the flagship of the MTR Group, it also owns several Evoke Gaming brands, which includes MamaMia, Bertril and Redbet as well as VinnarumCasino, Balletbingo, Bingoslottet, Bingosjov all part of the Dansk Underholding bingo sites the group acquired a year ago. MRG ensured an even stronger presence in Sweden and the UK by entering the Danish market after acquiring the fast-growing Redbet Group. With its long-term strategic plan to enjoy massive growth now promoted by its new entry into the Baltic States, which puts the company on par to reach its goal of achieving a 25% annual growth by 2020.
What adds even further fuel to the fire, Gamingzone Entertainment and Mr Green established a joint venture only a few days ago to create a new eSports fans community via focus on news, entertainment and exposure to gaming possibilities, which diversifies operations to additional verticals, spreading the brand’s footprint to a larger consumer audience.
Mr Green Casino
Established in 2008, Mr Green entered the iGaming world with a fresh approach and within record time enjoyed massive successes as it combined the convenience of flash technology with the thrill of full on gambling entertainment. Read full Mrgreen casino review here.
The impressive Mr Green Casino’s gaming selection include games from critically acclaimed software developers such as Thunderkick, Yggdrasil Gaming, Microgaming, NetEnt, Rabcat, BetSoft, Evolution Gaming, Leander Games, Red Tiger Gaming and NYX Interactive. The gaming library provides online players with access to multiple table and card game variations, parlour games, over twenty video poker versions and a phenomenal selection of online slots.
Apart from enjoying the best online experience in a safe, private environment, members also have access to an extensive selection of Mr Green exclusive games including Lucky Mr Green, Golden Colts, Mr Green’s Old Jolly Grand Tour of Europe and Mr Green Moonlight slots. Created by specialist live dealer development studio, Evolution Gaming, Mr Green Casino offers an excellent selection of exclusive live casino games including Live Mr Green Black Jack and Live Mr Green Roulette.
Mr Green Casino Vision to Shape the Future of Online Gaming
Since shaping the future of online gambling always remains one of Mr Green’s vital goals, the casino introduced players in February 2018 to Live-Beyond-Live. It represents one of the brand-new development experiences from NetEnt Live, that offers players a realistic 3 D live casino virtual experience fully removed from all physical constraints.
Live-Beyond-Live offers a more immersive more realistic online experience in which players enter a virtual environment where people in the background actually participates in table games while helicopters and airplanes are visible through the virtual windows. This exciting new way to enjoy games currently remains available on mobile only and offers players a unique 3D environment embedded via flawless live streaming.
MRG’s vision is to Shape the Future of the Online Gambling Industry.