BUSINESS

Net Entertainment sees 14 per cent Q3 profit boost

TAGs: Johan Öhman, Net Entertainment, q3 profits

Sweden’s Net Entertainment has somehow managed to boost their Q3 profits by a healthy 14% in comparison to the same period last year. Revenues also increased 21% as during the quarter in which Net Entertainment launched a bevy of casinos for new customers and ink licence agreements with operators including Gioco Digitale and Bwin.it, Interwetten, Intralot and Stan James.

Perhaps a little surprising is the fact that the unfavorable gaming regulations in France proved to have a negligible effect on profits. Net Entertainment president and chief executive Johan Öhman said in the company’s statement,”The impact on Net Entertainment from the regulatory development in France, which had a negative effect on some of our licensees, was cushioned as a result of our pricing model”.

Ohman also made it clear that the company would be pursuing setting up shop in Alderney after recently receiving a license to offer its casino products to gaming operators licensed by the Alderney Gaming Commission. Ohman added, “Significant efforts have gone into setting up a hosting facility in Alderney which will be commissioned during the fourth quarter”.

The move is expected to allow Net Entertainment to target markets like the UK as well as to sure up some of the company’s exisiting licenses.

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