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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.”
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
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