Scandinavian Operator Mr Green Reveal Huge Rise In 2013 Earnings
Mr Green, the Scandinavian online casino operator, announced a massive rise in earnings for 2013, despite earnings for the fourth quarter of the year being considerably less than the year before.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) in 2013 were SEK102.2 million ($15.6 million/€11.4 million), up from the SEK47 million that was shown in 2012, despite the fourth quarter of the year showing a significant loss of SEK7.5 million on the previous year. The poor results for the fourth quarter were put down to “increased marketing expenditure” and it is hoped the company will reap the benefits of that increased spending in 2014 and beyond.
Mikael Pawlo is the CEO at Mr Green and he had this to say regarding his companies latest set of accounts. He said, “Mr Green’s strategy of continued investment in product development, particularly in the mobile area, and launching the casino in new markets means that we have excellent preconditions to continue to significantly outgrow the market.”
A truly great set of numbers then for Mr Green and if the company continue to increase their business in 2014 and the coming years ahead, like they have managed to do so in the previous year, then it could be another recording breaking year for the Scandinavian online casino operator.