Is NetEnt growing too fast?
Published on by Adam
After another interaction with Per Eriksson, the CEO of NetEnt, a press release announced the immense growth that NetEnt has seen since last year in terms of increased profit margins as well as actual growth. Get the news straight from the horses mouth, as Per Eriksson answers a series of questions and lets us have a peek into what makes NetEnt do so well!
Saying that NetEnt has seen rapid growth is nothing more than an understatement at this point, having since last week reported an increase in profits by 35% as well as a whopping 62% increase in operating profits. Per Eriksson has explained in a press release how they were able to see such a significant increase and how they intend to keep that momentum in the coming half of the year.
Per explains that thanks to the calculated investments made throughout the year, NetEnt were able to grow exponentially and they have seen a significant amount of this growth in the UK market. He goes on to ambitiously remind us of NetEnt’s expansion into New Jersey, giving them a foot into the vast American casino market. Also admitting to having a preference tiowards controlled and regulated market regions, where companies can avoid the unpredictable actions which cause loss of revenue, expressing that it is worth the increased tax burden.
Per Eriksson is also very excited over the revenue figures generated from their recent introduction into the Spanish regulated market, as every euro at this point is some form of an increase in revenue, you can imagine why Per is so pleased with the expansion and the optimism that NetEnt expresses for future deals in the Spanish market is understandable.
However, some hindrances in regards to the New Jersey expansion have become apparent, as with any new market there is always a certain amount of red tape to cut through before you can settle and see an increase in revenue. This has been the issue so far, which is expected considering that it is not an EU market. This will obviously make acquisitions of licensing and proper regulation quite the task, although Per expresses his usual optimism and can-do-attitude towards the expansion and is positive about what will come next.
A congratulations is also in order, as you may or may not know, NetEnt received even more industry recognition in the form of three B2B awards in the all-important categories; Mobile Innovation, Slot Provider & Mobile Supplier. Three awards that Per is very proud of and three awards that will further the NetEnt brand as well as an industry titan.