MRG Credits New Marketing Strategy For Growth
In a statement by the company CEO Per Norman, MRG is reporting its strongest year-on-year growth in 5 years. In addition, the company's marketing spend is the lowest it has ever been. Along with the name change, the company also launched its strategy 2020 marketing campaign, which Norman believes has already proved successful based on this quarters recorded growth.
Income Increase and Expenditure Decrease
The company's interim third quarter report has shown a massive 51% increase in revenue. That brings its revenue, as of the end of September, to $49 Million. The company has shown organic growth of 36%, and experienced a massive 72% increase in client deposits this quarter.
Their new focus is on digital marketing, the reduction in marketing costs, and the increase in revenue. Strategy 2020’s focus has been on growth and product innovation, geographic expansion, adding to the value chain, and improving Green Gaming.
MRG has welcomed the growth as it works toward expanding its geographical footprint. The gambling industry as a whole is developing, and as new markets open, so duties, taxes and compliance costs are increasing.
They have just received a sportsbook license to launch the Mr. Green brand in Denmark, and plan to kick off the opening of the Swedish market as soon as it opens on New Year’s Day, next year.
The company was founded as Mr. Green 2007. Today, it represents some of the biggest brands in Europe, including Mr. Green, Red Bet, 11, Mama Mia Bingo, and BingoSjov.dk. It has a presence in 13 territories, employs more than 300 people and is listed on the Nasdaq Stockholm.
The balance of 2018 looks like it will be as busy, if not more so.
In addition to the group focusing energy on cost control to take advantage of its strategy's efficiency, it will also be releasing its first games from its in-house studio, Green Jade. They also expect that the eSports venture will launch before year-end. The new venture is a collaboration between Mr. Green and Gamingzone Entertainment which will be managed by Niklas Grawé the ventures newly appointed CEO.