Mr Green revenue jumps on new products, geographic expansion

Stockholm-based online gambling operator Mr Green saw revenue jump double-digits in Q3 following the introduction of its new sportsbook.

Figures released Friday show Mr Green’s revenue rising 14% to SEK 230m (US $25.4m) in the three months ending September 30 thanks to increased growth outside the company’s core Nordic markets.

However, earnings fell 57.5% to SEK 17.8m due to higher betting duties and increased costs, including a 51% rise in marketing and 28.4% more on personnel. The company’s ongoing provisions for its potential Austrian tax liability also took their toll.

The extra marketing costs were in part due to Mr Green branching out into sports betting in June with a product supplied by Kambi Sports Solutions. Costs also got a boost from preparations for the September 30 launch of Mr Green’s new live dealer casino.