NetEnt Releases First Interim Report of 2017

ian bruce
Written by Ian Bruce
Published on Friday 21st April 2017, 10:08 am
Posted in: Casino Business

Casino Business

NetEnt, the Swedish gaming firm that has given the world a multitude of popular slots and casino titles, including Mega Fortune, Guns N’ Roses and Wild Wild West, has just published its first interim report of 2017. The report covers the three months from the beginning of January to the end of March, and delivered plenty of good news for investors, with revenues and profits both on the increase, and continued growth forecast for the rest of the year.

The first quarter of 2016 had been a very strong one, so it was particularly impressive to learn that revenues for the same period this year were even higher, increasing by another 15.2% to SEK398 million. Operating profit was up 6.3% to SEK136 million, and the number of gaming transactions made in the three-month period increased by 11% to 9.8 million.

A total of 15 new customers were signed by NetEnt in the first quarter of this year, and the report highlights the fact that this is the highest ever. In addition, it launched NetEnt games in Mexico in Janury of this year, thanks to a partnership with Codere. The UK gaming market continues to be an important one for the company, and mobile gaming is going from strength to strength, contributing some 47% of revenues for the first quarter. 

As far as product development is concerned, the company made some impressive announcements at the annual ICE gaming conference in February. One of those announcements was that the company is developing its first game for the Virtual Reality market, and others included the 2017 launch of two new branded games: Planet of the Apes and Emojis. A new mobile title – Common Draw Black Jack – was announced, and NetEnt also said that it would be launching a new Live Rewards bonus system in the second quarter of this year.

Writing about the future outlook for NetEnt, President and CEO Per Eriksson said: "For the rest of 2017, we see conditions for continued solid growth supported by new games, increasing market shares in the UK, mobile growth, many new customers to launch and our ongoing expansion in North America. We continue to hire more employees and develop our platform. We strengthen the organization to increase our production capacity, enter more regulated markets and integrate a large number of new customers. With this in mind, we foresee an ongoing need to invest during 2017. We do this to enable continued solid growth with increasing economies of scale for NetEnt going forward – the future outlooks remains bright."

We look forward to welcoming new games from NetEnt over the coming months, but in the meantime, there are already plenty of fantastic titles for players to enjoy, including the most recent title, Jungle Spirit: Call of the Wild, which can be played at Mr Green Casino.

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