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Netent Revenues Up

Swedish online gambling software provider reports revenues up at $23.9 million

Swedish online gambling software provider Net Entertainment AB has released its financial results for the first six months of 2010, showing a 27.6 percent year-on-year increase in revenues to $23.9 million.

The company revealed that its operating profit increased by 25 percent year-on-year to $9.2 million off a margin of 38.7 percent compared to 39.5 percent for the first six months of 2009.

Profit after tax in the reporting period amounted to $8.3 million, an increase of $933,200 over the same period last year.

The company signed six new license agreements with firms including Gioco Digitale/Bwin, Interwetten, Intralot and Stan James and launched seven new casinos for its customers.

“Traditionally, the second quarter offers lower growth potential due to seasonal effects, which this year was strengthened by the 2010 FIFA World Cup decreasing player activity for the casino segment during the matches,” said Johan Ohman, President and Chief Executive Officer for Net Entertainment.

“Despite this, revenues increased by 27.2 percent, 42.3 percent in local currency, compared to the same period last year.

“The online gaming industry is changing to a regulated and more mature market, which leads to near-term challenges and significant opportunities in the longer term. This means increased costs for Net Entertainment driven by adjustments for the regulatory demands and more complex integrations.

“Meanwhile, we have a stable order backlog consisting of Stan James and Expekt, who will start to generate revenues primarily in the fourth quarter. The additional delays announced by the Italian gaming authority mean that the agreements we have signed are estimated to start generating revenues at year-end.

Our close working dialogue with AAMS and the customer base we have established in Italy creates a very strong position for Net Entertainment when the market is allowed to open. The regulatory development in France has resulted in challenges for some of our customers which impacted our business during the quarter.

“We continue to reap the results of our sales success and during this quarter we signed three agreements with leading gaming operators. In addition, an important bridgehead to the South American market was established by signing a new license agreement with one of the largest gaming operators in South America, Betboo, in July. South America is one of many interesting geographical regions on which we will increase our focus going forward. For all of the three tier-one operators with whom we signed agreements during the quarter, we will replace the existing casino supplier, which is very pleasing.”



Gambling News :

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.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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