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Netent Revenue up 32 percent

NETENT ENJOYS ANOTHER SUCCESSFUL HALF-YEAR
 
Online gambling software provider grew year-on-year revenue 32 percent.
 
The Swedish online gambling software provider NetEnt has posted another positive half-year result to end June 2016, reporting that revenue grew 32 percent year-on-year to SEK 697.4 million (GBP 61.1 million) and fourteen new  casinos were launched for clients.
 
The provider revealed that it currently has 31 new live, mobile and online projects for clients in the launch pipeline scheduled for release, and promising business projected for Europe, Asia and Latin America.
 
The companys H1 statement revealed that slot products deliver almost 88 percent of its revenues.
 
Operating profit for the six months was up 44 percent y-o-y at SEK 250.5 million, and the operating margin rose 3 percent to 36 percent in the period.
 
Profit after tax followed the upward trend, soaring 46 percent to SEK 235.2 million.
 
The UK continued to provide useful business to the provider, making a hefty contribution to its 21 new customer agreements inked during the first half of this year.
 
That being the case, CEO Per Eriksson wisely noted that it was still too early to predict the impact of Brexit, although in the short term currency fluctuations could have an impact, because NetEnt bills its UK clients in pounds sterling.
 
Eriksson commented in the update that the company has launched a beta version of its new live casino mobile product, which has been well received.
 
“Mobile gaming continues to be an important growth driver for us," he explained. "Revenues from mobile doubled compared to the same period last year and accounted for 37 percent of revenues in the second quarter.”

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Gambling News :

Oryx in deal with Extreme Live Gaming - #oryx Turnkey provider ORYX has selected Extreme Live Gaming for the integration of a number of Live Casino titles to its games platform.

GAN Partners with Station Casinos - B2B online gaming company GAN (formerly Game Account Network) has revealed Station Casinos as its previously unidentified partner in an announcement made August 2016

Tipbet Sponsor of easy Credit Basketball Bundesliga for season 2016/2017 - #tipbet The agreement comes with good timing; the BBL basketball 2016/17 season started last Friday, ensuring that Tipbet benefits from high visibility for its brand presence at the games.

Oceanís Call Slot Launches - Online gambling games developer Habanero has embarked on a journey across the high seas to bring players its latest HTML5 high resolution slot title, Oceanís Call.

Big Names Playing WCOOP - The big names came out to play in the closing stages of the World Championship of Online Poker this week as major prizes were handed out in a number of exciting and entertaining competitions.

Should Gibraltar and Britain be regarded as a single state under EU gambling laws? - The issue has been referred to the ECJ by the High Court with the question "should the UK and Gibraltar be treated as a single member state when it comes to EU law on remote gambling?"

Sirplay to Open Argentina Branch - #SirPlay expects the new office to be fully operational by early next year, extending its service to Grupo Slots, which holds a license to operate the provincial San Luis Lottery, and other potential LatAm clients.

DFS Changes for Ohio - #dfs Coley says that at present DFS is an example of the "pools for profit" concept, the rules for which the state Attorney General has opined are unclear in relation to DFS.

New Jersey Teams Up With Kahnawake Gaming Commission - The New Jersey Division of Gaming Enforcement and the Kahnawake Gaming Commission have agreed to collaborate in preventing unlicensed online operators from accepting bets from New Jersey and other U.S. states through the Continent 8 data centre situated on tribal land, according to reports Tuesday from the Associated Press news agency.

Petition to Ban Online Gaming in Singapore - Singapore Pools and Singapore Turf Clubís 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.

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