Mr Green and Cherry Gaming are two of the best known Swedish gaming brands (Sverige) around, having successfully expanded from their domestic market in order to become two of the big players in the online casino industry in Europe and beyond. This week, they both indicated signs that their growth has no signs of slowing down, with impressive financial results coming out of both companies.
Mr Green is undoubtedly the better known of the two brands outside its native country and has taken the online casino world by storm over the last couple of years. It is no coincidence that it has picked up numerous awards and continues to be one of our most recommended casinos here at Mr Gamez. This quality was borne out by the fact that year on year revenues rose by SEK43 million for the third quarter, with overall revenues coming in at SEK123.1 million.
The company put this impressive growth down to a focus on mobile platforms and continued innovations in the online space, with Mr Green Casino considered one of the market leaders in the sector when it comes to new games and partnerships.
Mikael Pawlo, Chief Executive Officer at Mr Green, commented: “The growth is a result of Mr Green’s ability to create a secure and exciting game experience for players combined with a focus on new mobile platforms, such as tablets and smartphones. Mr Green is continuing to invest in marketing activities and new product development to ensure that the company is positioned to respond to the technology shifts occurring in the markets, such as the move towards mobile gaming.”
While Mr Green operates exclusively online, Cherry is involved with both the online and land based sectors. However, they are devoting increasing resources to the online space with their land based revenues remaining largely flat. Online gaming, on the other hand, was behind a fifteen per cent rise in third quarter revenues year on year, which came to SEK69.9 million. Significantly, this was more than SEK35 million more than their land based activities.
These facts were not lost on Emil Sunvisson, Chief Executive Officer of Cherry, who commented: “Online gaming is again Cherry’s largest business area measured by turnover. High marketing costs have negatively impacted profit, but have also resulted in increased growth. Growth is a prerequisite for future profitability as economies of scale with our current structure are significant.”
If you want to see why Mr Green is so highly regarded in the industry for yourself then be sure to check out our dedicated Mr Green Casino review here on the site where we cover the games, promotions and everything else that you need to make the right gaming choice.