NetEnt Unveils Results for 2019; Shows Promising Figures
Posted on February 26, 2020 | 8:52 am
First-rate provider of casino content, Net Entertainment, has just published its financial report for the 2019 as well as the quarterly report from October to December. According to the figures, the company has made significant success in the previous months with more promising things coming soon. It has acquired Red Tiger casino and enriched its live casino offer. The future of the provider looks more than optimistic.
The developer has achieved vital milestones in recent months. The total revenues for the last three months increased by 10.0 percent to SEK 512 million (465 SEKm). Most money came from September’s acquisition of Red Tiger (SEK 96 million). The growth is further backed by the record-breaking results in the USA. Compared to the same period in 2018, The developer’s revenues have decreased by about 4.8 percent, which was caused by ongoing fluctuations in Sweden and Norway.
About Operating Income
The provider of exclusive gaming content has marked a significant increase in the last quarter. Only in this period, earnings before interest, tax, depreciation, and amortization (EBITDA) stood at SEK 261 million, of which SEK 70 million came by Red Tiger. The acquisition was completed with the goal to create shareholder value through enhanced growth and profitability for the new partner.
NetEnt has also delivered news games in the last quarter of 2019. It has unleashed 13 titles while Red Tiger disclosed about 9 chances. Both operators strengthen their cooperation to deliver more efficient products and supply customers with true gaming experience.
The first game created in collaboration with two partners is Piggy Riches – one of the best releases with jackpot mechanics. Both partners will deliver additional titles over the next months.
Live Casino Offer
As one of the vital steps for NetEnt’s expansion, the company has improved its live casino offer. It launched an exclusive Auto-Roulette studio which was followed by positive reactions of customers. The number of users since live casino inclusion has drastically been increased. At the moment, the operator extends its live casino portfolio in Malta and will soon deliver physical tables to the customers.
However, this is not all for NetEnt as the operator saw additional success in the market. It has unleashed several updates at the ICE exhibition in London, including a new jackpot named Starburst Power Pots, branded games in cooperation with Gordon Ramsay, Fashion TV, and Street Fighter. It demonstrated the company’s dedication to creating premium content and making additional progress in the market.
Commenting on the ongoing success of the company, NetEnt Group CEO, Therese Hillman said:
“Since December, we have seen all-time highs in the number of players for our Live Casino, which supports our belief in growing revenues from this segment. Since the acquisition, Red Tiger has exceeded our expectations and now forms a vital part of our ongoing improvement efforts within the NetEnt Group. We see good conditions for NetEnt to deliver growth in 2020, supported by our combined game portfolio and Live Casino.”
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