Net Entertainment, the Swedish iGaming content provider has posted its Q3 2014 revenue results. The report indicated a 41.8% increase in gaming revenues amounting to SEK 217.2 million. Q3 2013 was SEK 153.1 million.
Profits for Q3
Per Eriksson, NetEnt CEO, affirmed that the company’s increase in revenues is also attributed to growth in operations pertaining to existing customers and new licensees. Operating profit ending in September 30 is pegged at SEK 73.4 million, which is an increase of 33%. Operating margin is at 33.8% and profit after taxes is SEK 67.2 million.
According to Eriksson, there was a 37% increase in game transactions against last year, an indication of NetEnt’s products and games position in the current iGaming market. A marked increase in the number of new customers and the strong exchange rate of currency positively affected the revenue increase. Mobile games represent 16.5% of Q3’s revenues.
New Clients in the Offing
As part of its expansion plan, NetEnt has inked seven license agreements with new customers. In turn, seven new customers’ casinos were recently launched.
Björn Krantz, of NetEnt Malta, is set to spearhead the company’s expansion into North America. CEO Eriksson said that New Jersey is its entry point in the USA and preparations to apply (and possibly secure) for a license has started. NetEnt’s entry into Spain will commence in the first half of 2015.
Currently, the tech people behind NetEnt’s platform are upgrading its 2014 platform to carry on until the greater part of 2015. The platform development’s purpose is to secure various online games. The first nine months of 2014 brought 21 new customer agreements. It has a total of 34 customers for Live Casino and has just recently signed a contract agreement with UK’s largest online gaming operators including Bet365, Betfair, and Winner Casino UK.
NetEnt’s mark in online gaming is further established as it won the Digital Gaming Innovator of the Year award in September. The award is further proof that the company continues to hold the position as the leading casino content provider in the online casino niche.
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