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19

Very Strong First Quarter For NetEnt

Tags: Guns N Roses, Net Entertainment, NetEnt.
Posted on Tuesday, April 19, 2016 by "T".

Net Entertainment, a Swedish company that develops and supplies casino games (Guns N Roses, Mega Forune, Starburst and many other popular slots) to online casinos since 1996, has just released the interim report for January - March 2016. According to the report, revenues for the first quarter increased by 33.7% to SEK 345.4 (258.3) million and operating profit amounted to SEK 128.1 (81.8) million, an increase of 56.6%.

"We have had a strong start to the year with high growth in revenues, profits and cash flow," said NetEnt's President and CEO Per Eriksson. "Revenues for the first quarter increased by 33.7 percent and operating profit increased by 56.6 percent, compared to the first quarter of last year. The operating margin was 37.1 percent, a significant improvement from the same period last year thanks to rising revenues and economies of scale. The number of gaming transactions was 8.9 billion in the first quarter, representing an increase of 37 percent compared to the previous year.

We follow our growth strategy and the expansion in Europe and North America continues. We signed nine new license agreements and launched eight new customers' casinos in the first quarter. We also extended our collaboration with PokerStars and went live with our games on their site in the state of New Jersey. We have successfully signed up all gaming operators in New Jersey and have quickly gained market share and traction with our games there, which is good for our future growth not only in New Jersey, but also in other US states if and when they decide to reregulate the online gaming market. Mobile games and the UK market continue to contribute significantly to our growth. Revenues from the UK almost doubled compared to the same period last year and mobile games represented 33 percent of our gamewin in the quarter, a sharp increase from the level of 21 percent last year.

In March NetEnt became associated member of the World Lottery Association (WLA), a member-based organization that promotes the interests of state-authorized lotteries and gaming operators around the world. The membership will support our efforts to gain business in this strategically important market segment.

NetEnt continues to drive the market for digital casino entertainment by creating innovative games of the highest quality. We won several prestigious industry awards in the quarter and participated as usual at ICE - the largest trade show of the year in the European gaming industry. In January we released the much-anticipated slot game Guns N Roses, which became our most successful game release so far. The game is part of our new concept NetEnt Rocks, which also includes upcoming games based on music and graphics of Jimi Hendrix and Motörhead. We have an exciting year ahead of us and I am positive about the future."

 


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6 comments for "Very Strong First Quarter For NetEnt"

 bowie19844/19/2016 1:33:01 PM GMT
Not sure why a gambling company's press release about their quarterly profits have to do with anything going on this site, but NetEnt is/was always one of the strongest players in the biz...
I'd just wish that they would leave Lemmy's memory and the Motorhead alone - yeah I know the old man loved slotgames but I think there was a reason why he did not sold anything Motorhead related for these kinda ventures till he was alive.
 klash234/19/2016 2:25:05 PM GMT
We learn something every day....didn't know Lemmy had a few issues with gambling!!!
I think netent has definitely overtaken all the other slots providers,I used to enjoy playtech but that has just turned rubbish in the last couple of years.
My favourite games though probably come from IGT.
 Tony_MON7ANA4/19/2016 3:17:44 PM GMT
Got something to do with Guns N' Roses reunion?



Well, 2016 has been an awesome year so far for them as well.
 pochui4/19/2016 6:54:51 PM GMT
a great quarter with some really strong looking numbers have to admit. operating margin of ~37% is really something, on the other hand the 1/4 billion in revenue in just the 1st financial quarter shows how much money is in the online casino games industry... being gambled away. cheers for all the degens out there for keeping netent a financially healthy company.
 klash234/20/2016 3:28:23 PM GMT
Is there a Gunsn roses reunion?I thought Axl Rose had just been introduced as the next frontman for AC/DC in place of Brian Johnson?The GnR slot is not too bad but you don't often get any big wins but it is consistent if you are trying to gamble down a wagering requirement. Smile
 bowie19844/24/2016 10:35:15 AM GMT
Posted by klash23:
Is there a Gunsn roses reunion?I thought Axl Rose had just been introduced as the next frontman for AC/DC in place of Brian Johnson?The GnR slot is not too bad but you don't often get any big wins but it is consistent if you are trying to gamble down a wagering requirement. Smile

I like Elements or South Park Reel Chaos - maybe TwinSpin - if it's come to wagering on NetEnt tbh.

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