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

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