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Netent Q1-2016 Report

Tuesday, April 19, 2016 :  NETENT PERFORMS WELL IN Q1-2016
 
Revenue up by more than a third and operating profit rises over 50 percent.
 
Online gambling software provider NetEnt has posted another set of impressive results for the period January-March 2016, noting that revenue growth was up by more than a third and operating profit by over 50 percent.
 
In his report to shareholders, Per Eriksson, president and CEO, commented:
 
“We have had a strong start to the year with high growth in revenues, profits and cash flow.
 
"In January we released the slot game Guns N Roses, which became our most successful game release so far. The game is part of our new concept NetEnt Rocks, which includes upcoming games based on music and graphics of Jimi Hendrix and Motörhead. We have an exciting year ahead of us and I am positive about the future.”

Highlights of the group's Q1-2016 results include:
 
* Revenues for the first quarter up by 33.7 percent to SEK 345.4 (258.3) million;
 
* Operating profit of SEK 128.1 (81.8) million, an increase of 56.6 percent;
 
* Operating margin of 37.1 (31.7) percent;
 
* Profit after tax of SEK 121.7 (74.2) million, an increase of 64.1 percent;
 
* Earnings per share reached SEK 3.04 (1.86) after dilution;
 
* 9 new licence agreements were signed, 8 new customers’ casinos were launched;
 
* License agreement signed and games launched with PokerStars in New Jersey;
 
* NetEnt became associated member of World Lottery Association (WLA);
 
* Administrative Court of Appeal ruled in NetEnt’s favour in tax dispute;
 
Eriksson noted:
 
"The number of gaming transactions was 8.9 billion in the first quarter, representing an increase of 37 percent compared to the previous year.
 
"We have successfully signed up all gaming operators in New Jersey and have quickly gained market share and traction with our games there, which is good for our future growth not only in New Jersey, but also in other US states if and when they decide to reregulate the online gaming market.
 
"Mobile games and the UK market continue to contribute significantly to our growth. Revenues from the UK almost doubled compared to the same period last year and mobile games represented 33 percent of our gamewin in the quarter, a sharp increase from the level of 21 percent last year."

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Gambling News :

Petition to Ban Online Gaming in Singapore - Singapore Pools and Singapore Turf Club’s application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.

Lost Vegas Slot Launches - “Lost Vegas” is a new release on Microgaming’s October roster, a five-reel 243-payline game that offers punters the option to play in either Survivor or Zombie mode throughout the base game, a choice that affects the symbols and bonus games on offer.

Leap Gaming Partners With Pala Interactive - Israeli-based developer Leap Gaming has clinched its second deal in a week, this with Pala Interactive for the integration of its virtual sports turnkey product to Pala’s white-label social gaming platform.

Sportech Racing Partners With Macau Jockey Club - Sportech Racing and Digital has partnered Macau Jockey Club (MJC) for the provision of a white-label digital pari-mutuel betting platform and other retail solutions.

Bla Bla Bla Studios - Under the terms of the deal Bla Bla Bla Studios will develop and distribute exclusive gaming content for integration into the Quickfire platform.

Betser Powered By SBTech - #Betser is inspired by fantasy football, private betting leagues and social betting. The offer includes a twin-track loyalty scheme devised by Malta-based Hero Gaming, who operate Casino Heroes.

EveryMatrix has appointed Glen Bullen as Sales Manager - Bullen assumes responsibility for the entire casino sales operation, particularly focusing on growing distribution of the newly-updated and expanded CasinoEngine platform into Tier One operators.

Freemasons Fortune Slot Launches - Booming Games has launched Freemasons Fortune, a new 3-reel, nine-payline game inspired by the enigmatic Freemasons fraternal order.

Hollywood Classic Slots launches - Penn Interactive has launched Hollywood Classic Slots, a social casino game developed in collaboration with its recently acquired social gaming company Rocket Games.

Pagcor relents on 20 venues - In an announcement to the local stock exchange Monday, the company revealed that 20 of its 36 e-bingo revocations have been lifted, enabling operations to continue.

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