Massive growth shown in latest NetEnt financial report

Published on 20 April 2016 by Casino Admin

Massive growth shown in latest NetEnt financial reportWe have had a strong start to the year with high growth in revenues, profits and cash flow. In January we released the slot game Guns N Roses, which became our most successful game release so far. The game is part of our new concept NetEnt Rocks, which also includes upcoming games based on music and graphics of Jimi Hendrix and Motörhead. We have an exciting year ahead of us and I am positive about the future.”

– Per Eriksson, President and CEO

Net Entertainments’ quarterly financial report has landed this week, so as NetEnt fans we thought we ought to fill you in on how your favourite provider is doing. Below is a little rundown of the main bits of news. There are significant increases there in profits and a number of new license agreements signed, which means Net Entertainment continue to flourish.

First quarter 2016

  • Revenues increased by 33.7% to €258.3 million
  • Operating profit rose to €81.8 million, an increase of 56.6%
  • Profit after tax amounted to €74.2 million, an increase of 64.1%
  • 9 new license agreements were signed, 8 new customers’ casinos were launched

Important events in the first quarter

  • License agreement signed and games launched with PokerStars New Jersey
  • NetEnt became associated member of World Lottery Association (WLA)
  • Guns N Roses slot game was released
  • NetEnt won awards at the International Gaming Awards, Gaming Intelligence Awards and EGR Nordic Awards

President Per Eriksson also made special mention of the UK market, where revenues have doubled compared to the same period last year and the income specifically from mobile has increased from 21% to 33%. Brits are obviously getting more keen on playing from their mobiles and tablets!

He also mentioned the success of the new NetEnt Rocks selection of slots, predicting similar success for Jimi Hendrix and the upcoming Motorhead game as was experienced with Guns N’ Roses. They also seem very happy with the awards they’ve received recently, rewarding them for their innovative approach to new game design.

When we compare this quarterly report to the annual report from 2015, the rapid growth experienced this quarter becomes more clear. In total, last year NetEnt signed 11 new license agreements and helped to launch 7 new casinos. This quarter alone has almost matched that for new license agreements and has exceeded the total number of casino launches from 2015. This is definitely a sign of just how rapidly NetEnt and the igaming industry as a whole are continuing to grow.

For other news related to Net Entertainment, their financial reports and new games visit our Net Entertainment news section.