NetEnt Releases Q3 Numbers: Continued Growth for Swedish DeveloperPublished November 7, 2017 by Ivan P
NetEnt's Q3 report has shown a 14.3% increase in the year-on-year overall revenues, with the company earning a total of €120.6 million.
NetEnt, one of the undisputed leaders in the development of online casino games and solutions, has released their financial statement for the third quarter of 2017. Not surprisingly, the Swedish company with a global presence has managed to maintain rapid growth, with numbers showing significant positive year-on-year trends.
Increased Profits Across the Board
During Q3 of 2017, NetEnt has recorded profits of SEK 401 million (€40.1 million), which represented a 12.3% increase compared to the last quarter. After tax deductions, company profits amounted to SEK 142 million (€14.2 million) for an impressive increase of 19.3%.
Looking at the first nine months of 2017, NetEnt's overall revenue was €120.6 million, representing a 14.3% year-on-year increase. During 2017, the company signed 29 new customer agreements and 24 new casinos were started.
Mobile Segment & New Gaming Titles
According to the Q3 report, mobile segment continued to play an important role for the company's bottom line, contributing 52% of total revenues. The operating margin also experienced a significant boost, which Per Eriksson, NetEnt's President and CEO, attributed to economies of scale and growing revenues.
As always, the company released several new slots during Q3. These were Emoji Planet, Wolf Cub, and The Legend of Shangri-La. They continued in the same fashion for the last quarter of 2017, already releasing two interesting new games - Planet of the Apes and Finn and the Swirly Spin. According to Eriksson, the latter game was designed specifically to target the mobile segment and provide players with the ultimate mobile gaming experience.
The Live Casino segment has also continued to show significant growth throughout 2017, in particular thanks to Live Rewards system, which helped increase the appeal of the games with the players. The company has also expanded their live studio located in Malta to be able to offer even more exclusive tables for their customers.
Future Looks Bright
NetEnt has managed to increase its presence outside of Nordics, primarily in the UK and Italy, but also in Spain. The company has set their eyes on the US as well, where they've been going strong in New Jersey and they hope the newly introduced regulation in Pennsylvania will help them establish their position further.
Overall, Eriksson believes that the company will end 2017 on a high note and continue to grow moving forward, hiring more personnel, developing new gaming titles, and entering even more regulated markets.