Published on 1 May 2015 by Rhi
As Netent fans over here at NetentCasino.com, we’re not just interested in the casinos that offer their games and playing the games ourselves, we’re also interested in how this Swedish/Maltese game developer is doing in the big world of online gaming and their quarterly reports are the perfect way to satisfy our curiosity. It shows us how they’re doing and gives a great roundup of what they’ve been up to.
Netent’s First Quarter 2015
- Revenues for the first quarter increased by 37.1% (compared to the same period in 2014).
- Operating profit increased by 59.8%.
- Operating margin was 31.7% (27.2%).
- Profit after tax saw an increase of 60.9%.
- Earnings per share amounted to SEK 1.86 (1.17) before dilution and SEK 1.86 (1.16) after dilution.
Notable Q1 Events
- 11 new license agreements were signed, including Danske Spil in Denmark, Codere in Spain and Gamesys in the UK.
- Seven new customers’ casinos were launched.
- Local licenses were obtained in the UK.
CEO Per Eriksson made detailed comments on the statistics;
“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.
During the quarter we handled a full 6.5 billion transactions in our systems, representing an increase of 30.8% from last year. Mobile gaming continues to grow fast and accounted for 20.6% of total game win in the first quarter – almost a doubling from the level in Q1 2014.
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.
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.”
He spoke of Netent’s strategy to target regulated markets such as Denmark, Spina and the UK, where the relevant licensed were obtained and new partnerships formed;
- Denmark: “in March we entered a license agreement with Denmark´s largest gaming operator, Danske Spil, which is owned by the Danish government and is part of World Lottery Association (WLA)”.
- Spain: . “In Spain, the online market for slot games has recently been regulated and in March we signed an agreement with Codere, one of the largest gaming operators in Spain with large land-based operations in Spain and Latin America, and that has recently started to offer casino games online.”
- UK: “In the UK, new regulation was introduced in the autumn of 2014 and at the end of March we were granted local licenses from the UK Gambling Commission…We signed a new agreement with Gamesys, a leading British online gaming operator with well-known brands such as Jackpotjoy and Virgin Games.”