NetEnt continues journey of growth and prosperity

Published on November 9, 2016 in Industry News

NetEnt profit and lossesCasino giant, NetEnt has been taking the online casino industry by storm and they just keep moving towards bigger and better things.
 

Profits and Losses

According to a recent report NetEnt experienced a one-fifth jump in their profits over Q3. The figures revealed that their revenue has jumped 27.7% to SEK 357 million at the end of September 2016. It’s said that they experienced a 3% drop of their full gains thanks to the weakness of the British pound after Brexit.
 

“Mobile revenue made up approximately 40% of the total revenue for the 3rd quarter.”

NetEnt experienced an operating profit increase of 23% to SEK 129 million and a profit after tax gain of 22.2% to SEK 119 million. They continued to make waves with impressive figures in their operating margin (36.2%) and their mobile revenue’s year on year to 83%.
 

Business Expansion

NetEnt has expanded quite a lot during the last quarter as they’ve recently launched their brand new mobile live casino. They also signed 11 new customer agreements and launched online casinos for 8 new customers that includes operators such as Rank Group in the new Romanian market. From this month forward NetEnt has started to restrict access to all Canadian licensees due to the grey market area. 

It’s no secret that NetEnt’s goal is to keep achieving strong sales growth throughout the year. NetEnt President and CEO, Per Eriksson emphasised their commitment towards growth and sustainability in regulated markets. He also mentioned their passion for corporate ethics especially in promoting responsible gaming which is essential to the company but also a condition for the licenses they hold.

The CEO also touched on the growing amount of countries submitting to regulate online gaming as this provides more sustainability and gives them a competitive edge due to their organisation value and viability. 

It’s easy to see that this industry giant is on a roll and will continues to expand and grow for as long as possible.