New Clients help boost NetEnt profits by 63%

perericksonNew client accounts have helped igaming content developer Net Entertainment AB (Net Ent) deliver increased H1 2015 operating profits of SEK 174 million (£13.5 million ) up 63% on H1 2014 SEK 108 million.

The developers strong opening half to 2015, has seen it agree new content partnerships with leading operators Gamesys, PokerStars and Dankse Spil. Overall the developer announced nine new client partnership in H1 2015

Furthermore NetEnt released specific retail gaming content with William Hill during the period, which saw its popular titles available throughout William Hill’s retail betting shops inventory.

The increased client visibility combined with increased take up of its games content has seen H1 revenues increase to SEK 529 million (£41 million) up 35% on H1 2014 SEK 393 million. NetEnt governance stated that the developer was confident of hitting all 2015 goals.

Per Eriksson President & CEO of NetEnt commented on company performance

“Our growth strategy is to expand on regulated markets and we had a very eventful second quarter with regards to new customers and new markets. We were granted local gaming licenses in Spain in June and thanks to good preparations, shortly thereafter we were able to go live with several large customers in the country. Further, we launched our games with Danske Spil, the Danish state-owned operator that is part of World Lottery Association (WLA), which is a strategically important customer segment for us. We also signed our first two customer agreements in New Jersey, with bwin/Borgata and Caesars Interactive Entertainment, and entered a cross-patent licensing agreement with IGT for the North American market. These contracts are very important as they form the basis for our licensing process and entrance into the North American market. We continue to take market shares in the UK, which has become our third largest market in revenue terms and a key factor behind our strong growth overall. Live Casino is an important product where we continue to see growth and market share gains. In May we launched the product on the Italian market”

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