Net Entertainment annual report: revenue increases as demand for online entertainment rises

Monday, Aug 29, 2016 13:01

Swedish software provider Net Entertainment released its financial report for 2015. The company saw an overall increase in revenue of 33.0% to SEK 1,132.4 (851.7) million. The company’s profits have risen to SEK 401.6 (261.7) million, which is an increase of 53.5%.

“2015 was yet another fantastic year for NetEnt,” remarked Per Eriksson, President and CEO, in a press release. “The fourth quarter featured many new signed and launched customers and strong growth. Revenues increased by 34.0 percent to 323.1 MSEK and operating profit rose by 51.6 percent to 121.8 MSEK, compared to last year.”

Over the past year NetEnt has signed 43 new license agreements and 37 new customer casinos were launched. In the fourth quarter alone, 14 license agreements were signed and 16 new casinos launched. This trend indicates that Net Entertainment increasingly shifts its focus on expansion. Eriksson noted that growing demand for digital casino entertainment has helped Net Entertainment reach its target.

Gamewin from mobile games rose by 144 percent compared to the fourth quarter of last year and accounted for 30 percent of our total game win,” highlighted Eriksson.

During 2015, Net Entertainment developed all its new games with HTML5, and has shifted all existing games to HTML5. Eriksson is confident that this development will have a positive impact on the business, and will result in more opportunities to embrace technological advances

At the moment, Net Entertainment is in process of developing a mobile solution for Live Casinos. A date as to when casinos, and players, can expect this new product is not set as of yet.

The full report can be viewed here.