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June 20, 2021

Company signed 29 new license agreements over the period in review

NetEnt posts record increase in Q3 revenue

NetEnt posts record increase in Q3 revenue
NetEnt posted its financial results for the third quarter of the year. Revenue amounted to SEK279.8 million, up 28.8% year-on-year compared to the SEK217.2 million reported for the three months ended September 30, 2014.
Sweden | 10/23/2015

NetEnt posted its financial results for the third quarter of the year. Revenue amounted to SEK279.8 million, up 28.8% year-on-year compared to the SEK217.2 million reported for the three months ended September 30, 2014.

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perating profit increased 43.5% to reach SEK105.3 million. Operating margin was 37.6% compared to 33.8% posted for the same period a year ago. Profit after tax totaled SEK97.6 million, up 44.5% year-on-year. Earnings per share before and after being diluted amounted to SEK2.44 compared to SEK1.69 in the third quarter of 2014.

The company pointed out that it signed nine important license agreements with both European and North American customers during the period in review. For instance, NetEnt penned a partnership deal with UK-based gambling operator Gala Coral. During the third quarter of the year, it also signed an agreement with Golden Nugget to provide the New Jersey-based operator with a selection of its most popular gaming titles.

The company was granted a transactional waiver by the New Jersey Division of Gaming Enforcement so as for its product offering to be launched in the state with the Borgata and bwin.party brands, while its application for a full gaming license is being reviewed by the gambling regulator. The games have already gone live after their successful integration on the bwin.party gaming platform.

NetEnt also provided information about its financial results for the nine-month period ended September 30, 2015. Revenue amounted to SEK809.3 million, up 32.5% year-on-year. Operating profit increased 54.3% to SEK279.8 million. Operating margin was 34.6% compared to 29.7% for the same nine-month period a year ago.

Profit after tax totaled SEK258.3 million, up 55.5% year-on-year. Earnings per share before and after dilution amounted to SEK6.45 compared to SEK4.16 posted for the first nine months of 2015.

The company noted that it signed a total of 29 new license agreements over the period in review. What is more, 21 new customers’ casinos went live in the reported nine months.

Per Eriksson, President and CEO of NetEnt, said that the company posted record revenue and profit growth and reached a historic milestone over the past three months as it launched a selection of its games in New Jersey. He also noted that they well keep on following their strategy to introduce their product offering in new regulated markets. In addition, NetEnt will pay even more special attention to the mobile segment as it has been constantly growing over the past years. The company will also remain committed to launching at least one new gaming title every month.

Currently, the Swedish gaming developer is working on a Guns N’ Roses-based game, a major production expected to be officially released in January 2016.

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