The digital entertainment company, NetEnt, has shown increased revenues in its half yearly interim report. The report showed an increase in revenues for the first six months, with an especially good second quarter.
NetEnt Has Strong Second Quarter in 2015
As is in accordance with NetEnt's growth policy, the company has expanded into regulated markets around the world. In the first six months of 2015, NetEnt signed licensing agreements with 20 new customers, and launched its casino offering for 15 new customers.
In the first half of the year, revenue increased by 34.6 percent to an amount of SEK 529.5 million, while operating profits increased by 61.7 percent to SEK 174.5 million. After tax, NetEnt's profits saw an increase of 63 percent to SEK 160.7. Before dilution, earnings per share was SEK 4.02, and after dilution, it was SEK 4.02.
There were a number of important events that positively affected NetEnt's finances in the second quarter this year. Included in this was NetEnt's launch with Danske Spil, PokerStars, bwin.party, and Gamesys. NetEnt also launched its casino product in Spain, and has launched its first game for William Hill's land-based betting shops in the United Kingdom.
NetEnt has begun to move into North America with its cross-license patent agreement with IGT. In addition to this, the gaming software company has signed two customer agreements in New Jersey. Although NetEnt is still waiting to be granted a gaming license in the Garden State, the company has signed agreements with Caesars Interactive Entertainment and bwin/Borgata. It is highly likely that NetEnt will be granted its New Jersey gaming license, soon after which the company's games will be launched.
NetEnt's CEO Comments
Per Eriksson, the President and Chief Executive Officer for NetEnt, commented on the company's growth, saying: "The strong growth continued in the second quarter and we took several important steps towards entering new markets such as the US and Spain. We also launched operations with William Hill retail, meaning that for the first time our popular games are available in betting shops across the UK."
Eriksson also spoke about other non-financial achievements that took place so far this year. He said: "We constantly develop our offering to be at the forefront in terms of technology, innovation, and quality. In June, we won three prestigious industry awards at the annual eGaming Review B2B Awards in London, in the prize categories for Innovation in Mobile, Slot Provider, and Mobile Supplier - further proof that our investments generate results."
The CEO said that he is looking forward to the second half of the year. He expects the company to continue its growth trend, and maintain its strong position in the online casino market.