NetEnt Releases Second Quarter Report

NetEnt Releases Second Quarter Report

The digital entertainment company, NetEnt, has released its second quarter report. The company showed solid growth, as expected, and continues to deliver a top quality product. Mobile games have increased the gaming company’s revenues substantially in the first half of 2017.

NetEnt Continues Growth in First Half 2017

With revenues increasing in the first six months of 2017 by 15.4%, NetEnt has clearly continued to thrive in the highly competitive gaming market. Shareholders in the company receive a cash distribution worth SEK 540 million.

Notable events that took place in the second quarter of 2017 included entry into a number of new markets. NetEnt launched games in Serbia’s regulated gaming market, and introduced table games for its Spanish customers. The company also received a supplier license in Canada’s British Columbia. In the first six months of the year, NetEnt signed 21 new customer agreements, and launched 14 new customer casinos.

NetEnt has seen the biggest growth in Great Britain this year, followed by Italy. Other regulated markets have also continued to thrive, including Spain, New Jersey, Denmark, and Belgium. NetEnt is hoping that similar deals to that of New Jersey, United States, could become a reality in Illinois and Pennsylvania in the future.

The gaming software provider has won a number of awards over the years. This year was no different since NetEnt took home three awards from the EGR B2B Awards in London in June this year. The awards were the Mobile Supplier of the Year, Innovation in RNG Casino Software, and RNG Casino Supplier.

The casino has launched a number of popular slots including most recently Copy Cats, Scruffy Duck, Butterfly Staxx, and Hansel & Gretel, all of which hit casinos in the second quarter of the year.

NetEnt’s Per Eriksson Comments

Per Eriksson, the President and Chief Executive Officer of NetEnt, commented on the company’s first six months in 2017. He noted: “The quarter featured continued growth, higher profitability, and a strong cash flow. The most important growth drivers were mobile games, Great Britain and Italy. During June, mobile games contributed more than half of our revenues while Britain was our largest geographic market for the quarter. For the second half of 2017, we see conditions for continued solid growth.”

NetEnt first began providing services to the gaming industry in 1996. The company has over 900 employees in offices located in Stockholm, Kiev, Gothenburg, Malta, Gibraltar, Krakow, and New Jersey. NetEnt is listed on the Nasdaq Stockholm (NET-B).

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