The first half of 2023 for NetEnt resulted in a 32% year-on-year revenue to SEK 697.4m (£61.1m).
This increase could be attributed to the appearance of 14 new customer’s casinos, among them New Jersey’s Tropicana. NetEnt is partnered with every i-gaming casino operator in the state.
Operating profit amounted to SEK 250.5m, which is a 44% increase, while operating margin increased from 33% to 36%. Profit after tax was SEK 235.2m, a 46% increase.
During the period, NetEnt has signed agreements with a total of 21 new customers.
“Great Britain continues to be one of our most important markets, where we keep seeing strong growth. In June, we signed a license agreement with Rank Group, one of the largest gaming operators in Europe with a strong market position in the UK. It is difficult to assess how online gaming demand will be affected by Brexit going forward,” commented Per Eriksson, CEO of NetEnt.
“In the short term, we see mainly currency effects as we invoice most of our UK customers in British pounds. However, since the UK referendum, weakness in the Swedish krona against the euro has compensated for the weaker pound.”
According to Eriksson’s NetEnt presentation, 31 more new customers will launch by the end of Q2. He listed UK, mobile, live casino and North America as the main growth drivers, while Asia, retail and Latin American were listed as long-term growth drivers.
88% of gaming win came from slots, which are NetEnt’s main and most popular product.
About NetEnt
Established in 1996, NetEnt AB is the leading provider of premium gaming solutions and developer of most popular casino slots, available at the world’s most successful online casinos. The company is listed on Nasdaq Stockholm (NET-B) employs over 800 people in Stockholm, Malta, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey.
