Mr Green: A new addition to the Group
Research Note
2017-12-19
16:35
Yesterday after the markets closed, Mr Green announced the acquisition of Evoke Gaming from Bonnier Growth Media. The acquired company owns Online Gambling brands like; Redbet, Vinnarum casino, Bertil, and MamaMia. The purchase seems relatively cheap if we assume a continued turn-around of the business and profitability in-line with the overall industry. However, we need more information and a better understanding of the possible future development of the Evoke Gaming’s business. As of today, the acquisition will have a neutral impact on our valuation.
KL
Kristoffer Lindström
Disclosures and disclaimers