It’s the time of the year where the online gaming companies starts to post their Q1 results, which will give an idea about how their year will be. If the report is any indication towards how well Netent will be doing in the future, then it is looking very bright for the Swedish company.
The company had revenues of SEK258.3 million, which is an increase of 37.1% year-on-year. At the same time the operating profit experienced an increase of 59.8% to SEK81.2 million, with earnings after tax being SEK74.2 million, an increase of 60.9% in total.
Netent’s good results should be seen in the light of the company’s expansion plans, which includes regulated countries as well as the Bitcoin market. The company signed agreements with Codere in Spain, Danske Spil in Denmark, GameSys in the UK, obtained local UK licenses, launched casino games in Full Tilt and much more. Overall it has been a great year so far for Netent.
"We have made a very strong start to 2015, reaching new record levels for both revenues and profits. Our innovative gaming solutions as well as our strong expansion on new and existing markets are among the reasons for the high growth and good profits.” Per Eriksson, Chief Executive Officer at Netent said.
“We are constantly developing our offering to be at the forefront in terms of technology, innovation and quality. In surveys with customers we can see that they also consider NetEnt to be at the cutting-edge and that we have the best reputation in the industry. As of the second quarter of 2015 all newly released games - for both desktop and mobile – will have been developed in in HTML5, which is expected to bring some synergies going forward” Eriksson added.
“I look forward to the rest of 2015. We have strong momentum - our customer offering is world-leading and we are well prepared to seize new business opportunities on the growing digital casino market.” Eriksson finalized.