In 2013, six years after the company was founded, an online bookmaker, Mr Green, announced it was going to become a publicly traded entity as part of the Mr Green & Co AB Group, on the Nasdaq Stockholm main list.
Mr Green was one of a new group of online sportsbook and casino operators making strong headway in the online gaming industry. It wasn’t an established offline brand like William Hill, nor was it one of the ‘early bird’ casino operators that popped in the early nineties. It was therefore at a considerable disadvantage when it launched from Sweden in 2008 by entrepreneurs Henrik Bergquist, Mikael Pawlo and Fredrik Sidfalk. Yet, despite the metaphorical mountain facing the new company, it took the gaming industry by storm thanks to its innovative, market-leading approach to user experience, product offering and creating a standout, trustworthy brand.
But doubters remained close by when Mr Green announced it was going public in 2013, with many skeptical about whether the company could maintain its growth rate. But, in the five years since going on the market, the share price of Mr Green stocks has more than doubled, as the company continues to grow steadily.
Steady Financial Growth
Unsurprisingly, one of the biggest reasons behind the continued growth of Mr Green stock has been the company’s consistent, growing financials – while also keep a check on costs.
Indeed, the success of Mr Green as a publicly traded entity has focussed on five areas to ensure its financial progress, they are: brand, user experience, product offering, geographical location and leading the industry in sustainably responsible gambling. These targets may not sound particularly visionary, but in an industry plagued by short-term wins, they are. In particular, Mr Green’s focus on user experience and true commitment to responsible gambling are key components to achieving its positive brand goals.
What’s more, the focus on operational efficiency also makes the company stand out. Indeed, despite a turnover of over £100 million in 2017, the company still has around just 200 employees across its offices in Malta and Sweden, while other gaming companies are splurging on hundreds upon hundreds, or even thousands of staff.
A Winning Business Strategy
Mr Green’s long-term approach is providing the company with the ability for sustainable growth, indeed this a move that has been recognised across the industry, with Mr Green landing awards such as Social Responsible Operator of the Year at the 2012 eGaming Review, Online Casino Operator of the Year at the 2013, 2014 and 2015 International Gaming Awards, and, most recently Online Gaming Operator of the Year at both the 2017 eGaming Review and International Gaming Awards.
A Brand Apart
One of the Mr Green’s biggest assets, though, is undoubtedly its brand. While other casino operators are busy with bright colours and flashing lights for quick wins, Mr Green has created an online platform that is actually relaxing and easy to use, showing they truly understand the concept of online gaming as a form of entertainment.
As well as the unparalleled user experience available on the Mr Green website and apps, one of the core concepts is to “always be a gentleman”, by which they aim to show respect to all, while always being honest, clear and fair. Again, this is an approach he clearly separates the company from the rest of the industry.
Indeed, with such transparent principles governing how the company is run, it is unsurprising how well Mr Green has performed as a publicly traded company. With a clear brand strategy such as this, it increases not only customer trust but also shareholder trust, reducing the risk of volatility in its stock price.
And while the company may have had its doubters when it first moved onto the stock market, Mr Green has shown that with a transparent, long-term and sustainable approach, even young brands in saturated industries can maintain steady growth with the right strategy in place.