Net Entertainment Records 25% Q3 Revenue Increase

Online casino game provider Net Entertainment has reported a 25% increase in revenue for the third quarter of 2013.

The firm posted revenue of SEK153.1 million (€17.5 million/$23.9 million) over the three-month period through to the end of September.

The figures place Net Entertainment’s total revenue for the first nine months of 2013 at SEK450.6 million, an 18% increase on the corresponding period last year.

During the third quarter, the firm also recorded a rise in operating profit to SEK44.5 million, while profit after tax amounted to SEK39.4 million.

Net Entertainment also struck five licence agreements with customers in the third quarter, including deals will UK bookmakers Ladbrokes and William Hill.

In addition, the firm launched nine new customer-facing casinos over the three months.

Net Entertainment has signed 17 licence agreements and launched 14 new customers’ casinos during the first nine months of 2013.

“Revenues showed positive development compared to last year, which primarily was a result of good underlying growth with our existing customer base in combination with the addition of 22 new customers that have been signed in the last 12 months,” Net Entrainment’s president and chief executive officer, Per Eriksson, said.

“Net Entertainment has year after year showed proof of the Company’s ability to generate good results for our partners, which has led to an increased demand for our products.

“This, in combination with a high commitment throughout the entire organisation, has led to several new agreements with some of the largest operators in Great Britain.

“I am excited about what the market in Great Britain can generate for Net Entertainment in the future when all operators are fully launched.”

Eriksson also highlighted the firm’s growing focus on mobile game development, but said that developments were still at an early stage.

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