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Great 4th Quarter For Netent
The Swedish online gambling software provider Net Entertainment has matched the outstanding performance of its sister company Betsson with a gilt-edged Q4 2008 set of results that showcase a 71 percent increase in revenues to $7.45 million, and a doubling of operational profit to $3.69 million over the corresponding quarter in 2007.
The company's operating margin increased to 49.1 percent from 41.9 percent while profits for the period increased by 96 percent to $3.28 million from $1.67 million.
Net Entertainment signed four new licensees for its CasinoModule solution over the fourth quarter of last year. This is in addition to the two deals it agreed last month for its CasinoCafe (see previous InfoPowa report), which is software that allows an operator to establish a local casino operation using standard PCs from a central location with broadband access.
For the full year 2008, Net Entertainment reported that revenues increased by 56 percent to $24.78 million while its operating profits rose 74 percent to $10.63 million. Profits for the year increased by 74 percent to $9.69 million, helped by 20 CasinoModule license agreements with operators such as Victor Chandler, King.com and Bet-At-Home.
“2008 was a record year for Net Entertainment,” said Johan Ohman, President and Chief Executive Officer. “Our customers and shareholders can be pleased with our strong growth and it shows no signs of slowing down. December 2008 was our best month ever with regards to revenues. Our key CasinoModule and CasinoCafe products are continuing to sell well. They were improved during the year and are very well regarded by gaming operators around the world.
“Net Entertainment has entered 2009 with a product portfolio and customer base that is stronger than ever. And our accreditation from the independent industry standards and player protection organisation ECOGRA in 2008 is a quality and credibility stamp that will drive continued new sales."
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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