NetEnt Report Reveals Continued Growth

ian bruce
Written by Ian Bruce
Published on Wednesday 26th October 2016, 10:45 am
Posted in: Casino Business

Casino Business

NetEnt, the Swedish provider of premium gaming solutions and the creator of such well-loved titles as Guns n’ Roses, South Park and Scarface, has recently published its Interim Report for the period covering January to September 2016. The report reveals that the company is continuing to grow in all respects, and that its innovation in several key areas is paying off handsomely.

Revenues for the third quarter of 2016 were SEK 357 million, which is up 28% over the same period last year, whilst operating profits were SEK 129 million, which is an increase of 23%. The report said that cash flow after investments was particularly strong, at SEK 132 million which is up 56% on the same period in 2015. 

NetEnt has been very successful in generating new business, and has signed eleven new customer agreements in the last quarter. It has also launched its impressive suite of games with eight new customers, and all of that has helped the number of gaming transactions for the quarter to increase by 31% on the same period last year, to more than 8.6 billion.

As far as the nine months to the end of September are concerned, NetEnt’s revenues rose by 30.3% and operating profit increased by 35.8%, with profit after tax increasing by 37.2% to SEK 258.3 million. Agreements were signed with a total of 32 new customers, and casinos were launched for 22 new customers. In addition, the company launched games with the Rank Group in the UK and with several operators in Romania. NetEnt also launched a mobile live casino offering.

‘NetEnt’s growth strategy keeps delivering results – we grow on new markets, with new products and with more customers,’ said Per Eriksson, who is President and CEO of NetEnt. ‘During the quarter we launched our games on the regulated market in Romania and we rolled out our live casino product for mobile. The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year. Our ambition to achieve continued strong sales growth in 2016 remains.’

NetEnt’s latest online gaming release is Red Riding Hood, which is the first in a brand new Fairytale Legends series, and which can be played at Mr Green Casino and other venues offering NetEnt titles.

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