BUSINESS

Net Entertainment’s plans for world domination proceed unabated

TAGs: Codere, danske spil, Net Entertainment, netent, UK Gambling Commission

net-entertainment-per-erikssonOnline gambling software outfit Net Entertainment has received new licenses from the UK Gambling Commission (UKGC).

On Wednesday, the Swedish technologists announced that the UKGC had seen fit to bestow NetEnt with both operating and software licenses under the UK’s new regulatory scheme. NetEnt CEO Per Eriksson (pictured) celebrated the “milestone” event, saying the UK was “central to our growth strategy to expand in regulated markets.”

The day before, NetEnt had announced it had signed a license agreement to supply Spanish operator Codere’s online gambling site with a range of casino game content. NetEnt is awaiting the official nod from Spanish regulators before launching its products and services in the country later this year.

NetEnt chief of European Market Operations Enrico Bradamante called Spain “one of our prioritized countries when it comes to regulated markets with strong growth potential.” Spain is in the process of expanding its online casino palette beyond its current baccarat, blackjack and roulette limitations to include online slots.

In Denmark, NetEnt recently inked a licensing deal with former state monopoly operator Danske Spil, a member of the World Lottery Association (WLA). Eriksson said NetEnt had been “among the first to supply online casino games to the regulated Danish online gambling market in 2012” and Eriksson was right chuffed to “continue our expansion in the strategic WLA channel.”

NetEnt capped off this flurry of activity by releasing its annual report for 2014. The company’s product portfolio now boasts 195 games in 25 different languages deployed with over 90 customers. Slots generated 84.2% of NetEnt’s gaming yield last year, followed by roulette (7.9%), blackjack (4.4%), video poker (1.6%) and other games (1.9%). NetEnt inked 31 new customer agreements in 2014 and launched 28 customers.

NetEnt called 2014 “yet another in a series of fantastic years,” as revenue hit SEK 851.6m (US $98.3m), up 35% from 2013, while operating profit rose 30.7% to SEK 261.7m. Over the past five years, NetEnt annual revenues have increased by an average 23%, nearly twice the annual growth of the European online casino market.

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