Evoke Gaming joins the Mr. Green family for €7m
The Swedish online operator Mr. Green recently announced that they have acquired Malta-based Evoke Gaming from Bonnier Growth Media.
As a result of it, sites like RedBet and Mamamia among others now belong to the Mr. Green family.
The deal is due to be closed beginning of 2018, however Mr Green’s team announcement that work will be starting in 2019, therefore their most recent acquisition won’t have any negative impact on its 2018 earnings.
The total amount agreed for the acquisition was the cash-paid amount of €7m.
Evoke Online Gambling
Evoke’s online gambling brands are mainly focused in the Swedish and Norwegian market.
Evoke CEO Fredrik Staël von Holstein will remain head of Evoke’s operations after the deal is closed.
In 2016 they generated a revenue of €15.5m with a loss of €4.6m however things went the wrong path and at the beginning of 2017 their revenue showed earning of €7.4m with a total loss of €4.4m, this due to the migration to a new technology platform and restructuring measures.
Evoke CEO Fredrik Staël von Holstein said:
“On the threshold of a significant turnaround. Mr Green deal would provide Evoke’s brands with the muscle to continue growing internationally in an effective manner.”
Mr. Green Casino
Mr Green’s financial targets of an annual growth rate of 20% and an EBITDA margin of 20% by 2019 will be unaffected by the acquisition. At the end of September, Mr Green’s net cash amounted to more than €550m
At the end of the year Mr Green reported its Q3 revenue up 28.4% to €295m while earnings nearly tripled to €50m
Mr. Green casino is of the best rated sites and is licensed under the jurisdiction of Malta and regulated by the UK Gambling Commission.
We are looking forward to seeing all the benefits this union will bring.
Knowing the reputation of Mr. Green, we are sure Evoke made the right decision.
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