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Gambling: Netent good 1st half
Software provider Net Entertainment has reported another set of strong results for the half year to June 30th 2009, with revenues, profits and margins all up.
H1 revenues climbed 53 percent to SEK138.8 million (H1 2008: SEK90.9 million), whilst operating profit rose 59 percent to SEK54.9 million and profit after tax soared by 65.4 percent to SEK54.5 million.
The company also reported operating margins up 0.8 percent to 39.5 percent, and EBITDA of SEK25.3 million, up from SEK18.3 million
A lucky online gambler impacted the firm's Q2 cashflow by winning a SEK 47.3 million jackpot, one of NetEnt’s largest yet and paid out in a lump sum.
On the personnel front, the company reported the hiring as COO and md for sales and marketing of Björn Krantz, who takes up his responsibilities in Malta on September 1st.
New licensees during the review period included Nordic operator Paf, which ordered download and browser-based versions of NetEnt's CasinoModule in a four year deal. The company is also gearing up for the launch of its CasinoCafé product, and expects orders for CasinoModule from Paf, Expekt and Sportingbet to boost revenues.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
Online gambling games developer Genesis Gaming has unveiled its latest game, with a theme based on a horror story of the undead, exploiting the current trend....and just in time for Halloween.
Why is FullFlush Poker Still Down -
Its now almost a month since Full Flush Poker went offline "for a platform upgrade" and stopped communicating with its reportedly many unpaid and unhappy players. All trace of the operator - and means to communicate with it - have vanished.
Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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