Mr Green Group Rebrands as MRG and Makes the First Move in Baltics
Mr Green & Co AB, an iGaming group listed on Nasdaq Stockholm, now goes by the name MRG to reflect its high growth. Moreover, on the Capital Markets Day last week the company also announced that it has entered into the Baltics with a 75% stake in the third largest iGaming operator in Latvia, 11.lv, securing foothold in more regulated markets as a result.
Since 23rd May, the group is called MRG and changed the site to mrggroup.com. For reference, in addition to the company’s flagship Mr Green brand, it’s also the owner of Evoke Gaming brands like Redbet, Bertil, MamaMia and VinnarumCasino, as well as Dansk Underholdning bingo sites like Bingosjov, Bingoslottet and Balletbingo, which they’ve acquired just over a year ago.
Per Norman, CEO of MRG, explained why they went with the name change: ”MRG is a digital, high growth company with a significantly broader operation with more brands and larger geographical presence than a year ago. We invest in new innovative digital areas within iGaming and esports. MRG is reflecting our vision ‘Shape the future of the iGaming industry’.”
Having made their move into the Danish market and secured an even stronger presence in the UK and Sweden with Redbet, the fast-growing group has now set their target on the Baltic States, including Estonia, Latvia and Lithuania. Just last year, the iGaming market grew by 45 percent in this regulated region and is likely to continue its upwards direction in the near future due to attractive growth potential.
According to Per Norman: "We foresee excellent growth opportunities for our strong Mr Green and Redbet brands also in the Baltics.” For that, MRG has also set a target for an annual growth of 25 percent by 2020.
The entry into the regulated market was possible after MRG announced that it has paid £2.8m in cash for a 75% stake in 11.lv. The rest of the share is divided between two of the founders who will remain in the company that currently has 15 employees, all based in Riga in Latvia.
To add more fuel into the fire, just a few days ago Mr Green and Gamingzone Entertainment have established a joint venture to “create a new community for esports fans with a focus on entertainment, news and gaming possibilities”, diversifying their operations to more verticals and spreading the brand name onto more consumers.
With that in mind, you can read more about MRG’s flagship casinos Mr Green and Redbet and leave your own reviews to influence our independent FRank ratings as well. And don’t forget to subscribe to the blog to be the first to get notified of new posts.