BUSINESS

Net Entertainment releases results and welcomes Italian casino market

TAGs: Italy, Net Entertainment

Net EntertainmentNet Entertainment (Net Ent) achieved a slight increase in almost all sectors as they released their interim results for the second quarter of the year. Revenues for the quarter showed an increase of 12% year-on-year to SEK99.9m with operating profit also up slightly from the last quarter to 27.2m from 26.3m. Profit after tax also increased from 22.9m to 25.1m. Given these results, it’s hardly time to crack out the champagne. One of those really small bottles of Cava might do the trick – or even an alcopop!

Johan Ohman, president and CEO, commented, “The development in the second quarter was primarily a result of growth from the existing customer base. Excluding revenues from France (that in June 2010 introduced a regulatory framework that excludes casino games) revenues increased 25 percent. The number of game transactions continued to increase and amounted to 1.9 billion, an increase of 30 percent compared to the same period 2010.”

The release comes on the same day that the Swedish-based company announced it would be supplying a number of companies with games for the new Italian casino market. Opened up by AAMS on Monday, Net Ent has license agreements in place with Gioco Digitale, Bwin.it, Microgame, Intralot, Unibet, Betclic, G.Matica and Interwetten, for games in the country.

In terms of Italy, Ohman had added, “The company’s Italian customer base represents a significant market share and the majority of the operators are ready for launch as soon as they obtain a formal approval. Initially table games and video poker will be offered and slot machines are expected to be allowed during the first half of 2012.”

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