BUSINESS

NetEnt profit and revenue up for Q3

TAGs: netent

netent-profit-and-revenue-up-for-q3Per Eriksson, chief executive of NetEnt, said the company achieved record levels of revenue and profit in the three months to September 30.

The software developer’s revenue in the third quarter reached SEK279.8 million ($33.6 million), a 28.8% increase on the SEK217.2 million posted over the same period last year.

NetEnt’s operating profit jumped 44% year-on-year to SEK 105.3m while profit after tax was SEK 97.6m, an upturn of 45%.

NetEnt’s Q3 performance boosted its overall results for the nine months through to the end of September with year-to-date revenue of SEK809.3 million, an increase of 32.5% on the same period in 2014.

According to Eriksson, nine license agreements were signed during the period including Gala Coral and Golden Nugget.

The company launched six customers during the quarter and gained a total of 26 new customers so far this year.

NetEnt officially entered the New Jersey online gambling market in September as Borgata Hotel Casino & Spa’s online casino began using NetEnt games, following the granting of a transactional waiver to NetEnt by the New Jersey Division of Gaming Enforcement in June to operate its games in the state via Borgata and BwinParty.

Eriksson described NetEnt entering the New Jersey market as a key part of its strategy and a historic milestone for the company.

“We are now also awaiting transactional waivers to go live with Caesars Interactive and Golden Nugget,” said Eriksson. “With regards to game releases, we keep producing at least one new title a month for all our customers, while we also develop customized games at a growing pace. We continue to sign up new operators, while the number of customers to be launched stood at 26 at the end of the quarter, which should support our growth going forward.”

 

 

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