MRG CEO: “It’s business as usual in the Netherlands” despite €312k fine
Operator says it continues to operate its Mr Green brand in Holland after being fined in September
MRG group CEO Per Norman said its Mr Green brand continues to operate normally in Holland after appealing its €312,500 fine from the Dutch regulator (KSA) in September.
“It’s business as usual in the Netherlands,” Norman told investors during the firm’s Q3 results last Friday.
The operator received the penalty for failing to use IP blocking technology under the so-called ‘prioritization’ criteria proposed by the KSA.
“We are following the guidelines from the KSA, apart from geo-blocking. As far as we understand no one else has geo-blocking [in the market],” Norman said.
“In that sense we are pretty much the same as everyone else.
He said it had been “a bumpy road in the Netherlands” with licensing not in place until 2020.
Elsewhere, depositing customers were up 47.3% in Q3 thanks to a renewed focus on CRM and customer loyalty.
Norman said the operator’s long-term profitability was dependant on returning customers over new customers.
“That will be the key for the industry going forward. It’s important for us to keep existing customers. That KPI is even more important that new customers,” Norman said.
He also highlighted the rise in depositing customers despite a 30% reduction in marketing spend.
“If you combine both new customers and returning customers with reduced marketing spend, that’s what we’re most proud of during this quarter.”