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Net Entertainment Revenues for Q3/2010 Up 21 percent

Revenues for Q3/2010 Up 21 percent
 
Gaming software provider, Net Entertainment "saw good development during Q3/2010 with a 21 percent growth in revenue (35 percent in local currency) which should be compared with the 14 percent market growth predicted by H2 Gaming Capital for the full year of 2010", commented Johan Öhman, president and CEO.
 
Third Quarter Highlights included:
 
- Revenues for the third quarter increased by 20.8 percent to SEK 91.6 (Q3/2009: 75.8) million
 
- Operating profit increased by 13.8 percent to SEK 34.1 (Q3/2009:30.0) million
 
- Operating margin was 37.2 (Q3/2009:39.5) percent
 
- Profit after tax amounted to SEK 30.0 (Q3/2009:20.8) million
 
- Earnings per share amounted to SEK 0.76 (Q3/2009:0.53) before and after dilution
 
- Two new license agreements were signed
 
First Nine Months 2010:
 
- Revenues for first nine months increased 25.2 percent to SEK 268.7 (214.6) million
- Operating profit increased by 21.0 percent to SEK 102.7 (84.8) million
- Operating margin was 38.2 (39.5) percent
- Profit after tax amounted to SEK 91.4 (75.3) million
- Earnings per share amounted to SEK 2.31 (1.90) before and after dilution
- Eight new license agreements were signed, including Gioco Digitale/bwin.it, Interwetten, Intralot and Stan James, and eight new customers' casinos were
launched
 
Important Events in Q3/2010:
 
Revenue growth for the third quarter was 35.1 percent in local currency compared to the Q3/2009 and 6.0 percent compared to the previous quarter. The strengthened Swedish currency has held back revenue growth in SEK.
 
The regulation of casino games online in Italy continued during the quarter.  The market is still expected to open at year-end. The integration has continued during the quarter.
 
Agreements were signed with an operator in South America, which is a region expected to become an important market for online gaming in the future. The integration of Stan James has progressed well and launch is still planned for the fourth quarter.
 
Net Entertainment has received a license to offer its casino solution to gaming operators who are licensed by the Alderney gaming authority or other reputable gaming authorities. In addition, this gives an opportunity to further strengthen the customer offering by providing alternative hosting if serious disturbances occur, so called disaster recovery.
 
Comments from Johan Öhman, President and CEO:
 
We saw good development during the third quarter with a 21 percent revenue growth (35 percent in local currency) which should be compared with the 14 percent market growth predicted by H2 Gaming Capital for the full year of 2010.
 
The announced agreement with Universal will allow us to develop games based on well recognized brands where the first release will be made during the first half of 2011.
 
The regulatory development in Italy is progressing well and the first casino licenses are expected to be awarded around year end. Operators holding an existing license in Italy will be first out which will benefit Net Entertainment as several of the licensed operators are existing customers to us.
 
Significant efforts have gone into setting up a hosting facility in Alderney which will be commissioned during the fourth quarter. The Alderney Gaming Commission issued license which was received during the fourth quarter will enable us to better address certain markets such as the UK but equally to provide disaster recovery services to our existing licensees.



Gambling News :

Live Dealer Now At Slotocash - Live Dealer can be found in the left navigation menu under 'Live Dealer' when you, the player is logged in to instant play.

Advantages of online slots over slot machines - The rise of online casinos means that players no longer have to leave their own house to play casino games.

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

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