Mr Green switches name to MRG and enters Baltics

24 May 2018

In a recent move to gain access to the Baltic region, Mr Green signed an agreement with Latvian operator 11.lv that led to its acquisition. The rapid growth of the Baltics, including Estonia, Latvia and Lithuania, reached an impressive 45% last year compared to 2016, according to Mr Green's research. The Capital Market's Day was when the company also announced a new re-branding move, intended to create the profile of a more high growth digital company. As of now the company is called MRG.

The CEO of MRG Per Norman announced that 11.lv's buyout is an important expansion into locally regulated territories, as the Latvian operator is the third largest in the area. In addition, he mentioned that the acquisition will be a huge step forward for both of MRG's brands, namely Mr Green and Redbet, and will help the company solidify its presence in the Baltics. 11.lv's products cover casino, live casino as well as betting through the use of a Latvian license with a revenue of €944k and EBITDA of €162k in the first quarter of 2018.

MRG acquired 75% of 11.lv's shares for the price of €2.8m in cash. The remaining 25% is still in the possession of the 2 company founders. The company is based in Riga, Latvia and currently employs 15 people. According to a financial note by MRG that was released recently, the company demonstrated a 40% year-on-year revenue increase for the period 1 April - 22 May with customer deposits also going up by 60%.

About MRG

MRG offers sports betting, online casino, live casino, bingo and keno through an MGA license, while holding several other licenses in the UK, Italy, Denmark and Ireland.  The company's online casino was officially launched back in 2008, with the headquarters being in Malta. MRG was one of the first few companies to introduce the concept of an online casino offering games from different providers, and today features around 700 titles from all well-known brands such as NetEnt, Play'n Go, Microgaming, Merkur, Playtech, Yggdrasil and Evolution.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY
UFC 298 Odds & Preview: Volkanovski vs Topuria Featured Image

One of the biggest UFC events of the year takes place on Saturday, February 17 at the Honda Center in Anaheim, California. UFC 298, starting at 23.00 ...

Read more »

Drake Loses $700k In UFC Fight Betslip Featured Image

Canadian rapper Drake’s curse continued as he lost $700k after placing a bet on UFC’s 297 main event fight of Sean Strickland vs Dricus Du Pless...

Read more »

Next Liverpool Manager Odds: Who Will Succeed Jurgen Klopp? Featured Image

Jurgen Klopp’s announcement that he will leave Liverpool at the end of the season shocked the football world. The German will depart from Anfiel...

Read more »

Top 100 Bookmakers for 2024 Featured Image

Every day we get bombarded by dozens, if not hundreds of extravagant remarks by various online sportsbooks claiming to be the best when it comes to od...

Read more »

Betby’s Esports Solution Secures Approval From MGA Featured Image

Betby has received regulatory approval from the Malta Gaming Authority (MGA) to offer its esports odds feed portfolio independently. The MGA granted a...

Read more »

Premier League Clubs Get Closer To Bookmaker Sponsorship Ban Featured Image

The front of the shirts of Premier League clubs will no longer feature logos from bookmakers once an agreement is reached. The deal would prohibit fro...

Read more »

Betano Lands Giannis Antetokounmpo As Global Brand Ambassador Featured Image

NBA star Giannis Antetokounmpo has signed a contract with Betano, making him their first-ever global brand ambassador. The Milwaukee Bucks superstar, ...

Read more »

Bet365 Continue Their Weekly 6 Scores Challenge Game Featured Image

Sports betting industry leader Bet365 has partnered with Incentive Games, a renowned free-to-play provider, to continue their highly popular weekly 6 ...

Read more »

22bet Awarded EPL Jerseys To Five Lucky Bettors Featured Image

Five of 22bet’s Kenyan users have received English Premier League jerseys after successfully predicting the correct score of Manchester United v...

Read more »

Betting Preview And Odds For Formula 1 2023 Season Featured Image

On March 3-5, the 24th Bahrain Grand Prix will mark the return of Formula One for its first full weekend of the new 2023 season. Max Verstappen, who h...

Read more »

LATEST BOOKMAKER PROMOTIONS
bookmaker banner
bookmaker banner