NetEnt Growth Strategy Continues to Yield Results in 2017
The Swedish-based casino content developers NetEnt – famous for their impressive, high-quality slot games – have revealed encouraging numbers which show company’s growth strategy continues to bring significant results.
The year 2016 was the record year for NetEnt who saw their fourth-quarter finances go through a 23.9% rise with full-year revenues amounting to $127 million and operating profit surging to $59.36 million.
The Swedish company also recorded a $55.84 million profit after tax, which comes as a direct result from 45 new customer agreements and 34 new casino launches in 2016 alone.
Additionally, NetEnt expanded their list of regulated markets as the company set foot in Romania, Bulgaria and Portugal.
Promising Start to 2017
The company’s continual growth strategy brought positive results in the first quarter of 2017 as well, with NetEnt recording a $44.5 million in revenue during the first three months of the new year.
The numbers represent a 15.2% rise on the records posted in the corresponding period in 2016, with operating profits climbing 6.3%. Additionally, profit after taxes have seen a 1.8% rise compared to the first quarter of 2016.
The fine results from the Q1 in 2017 are partly down to NetEnt’s official launch of the regulated market in Mexico with first games becoming available to Mexican player since the turn of the year.
Additionally, NetEnt has announced the development of the first virtual reality game which is bound to influence an additional growth in finances for the Swedish powerhouse.
“For the rest of 2017, we see conditions for continued solid growth supported by new games, increasing market shares in the UK, mobile growth, many new customers to be launched and our ongoing expansion in North America.”, president and chief executive of NetEnt, Per Eriksson, said.