NetEnt Growth Driven by Mobile MarketTia Winter | 18 July 2017
Successful casino software developer NetEnt has recently revealed its latest H1 interim financial results, showing impressive growth in many of its key sectors. The Swedish software provider has posted a significant growth of 15.4% in its fiscal report for the first half of 2017, including revenues that have now risen to SEK 805 million.
NetEnt’s H1 financial report also highlighted respectable growth in many of the company’s other divisions, with its operating profits climbing to SEK 281 million. This is a 12.2% increase over the figures of SEK 251 million posted for the first half of 2016. NetEnt’s operating margin also came to an impressive 35% of the aforementioned figure.
The Stockholm-based firm’s profits after tax also increased, growing 9.6% to reach SEK 258 million. The report went on to mention that NetEnt signed 21 new customer agreements during the period in review, while 14 new casinos offering NetEnt’s sought-after range of online casino games were also launched in the first half of this year.
Italy, UK, And Mobile Gaming The Main Drivers
NetEnt noted that the European regions of Italy and the UK were by far its largest markets in the second quarter of 2017, and the company highlighted in particular the massive growth of its mobile division during this time. According to the provider, mobile casino games accounted for over half its overall takings in June alone.
The company also continued to implement its plans to expand into new regulated iGaming markets in Q2, obtaining licenses to operate in the Canadian province of British Columbia and also breaking into the Serbian regulated market with its real money games.
NetEnt CEO Per Eriksson Expects Continued Success
President and CEO of NetEnt Per Eriksson commented on his company’s H1 success, saying that the most recent report highlighted solid growth, boosted profitability, and an impressive flow of cash for NetEnt.
He confirmed that Great Britain and Italy were the company’s main growth drivers, along with the increasing popularity of mobile games.
The CEO continued, noting that during June, over half of his company’s revenues were generated by mobile games, while Britain was the firm’s largest geographical market for the period in review. Eriksson concluded by noting that NetEnt sees the right conditions for sustained growth for the rest of 2017.