Mr Green, one of the leading online casino sites for Scandinavians, has just announced the company's results for the year of 2013. Overall Mr Green is very satisfied as they experienced almost a doubling in the profits compared to 2012.
Mr Green showed profits amounting to SEK102.2 million, which is equal to around €11.4 million at today's exchange rate. That's more than double of the profits in 2012, which amounted to SEK47 million, equal to around €5.2 million.
With a large increase in profits, one would expect Mr Green to have experienced growth in profits in all quarters of the year, but that is not the case. Mr Green actually experienced a decrease in profits in Q4 compared to Q4 of 2012, going from SEK26.2 million in 2012 to SEK18.7 million in 2013. Mr Green explained that the decrease in profits with increased marketing expenses, which they will see the effect of in 2014.
“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,” Mikael Pawlo, CEO of Mr Green said.