Swedish Games Developer Net Ent to Target US MarketPublished July 16, 2014 by Arthur M
Following the release of improved profit details, Net Ent have announced that they are to try to enter the potentially lucrative US market in 2015.
Swedish online casino games developer Net Entertainment (Net Ent) has revealed that they are looking to crack the US market by the second half of 2015.
Net Ent Financial Results
The latest financial results form Net Ent have revealed a 34% year on year growth in profit to nearly SEK100m, which equates to around £8.5m. Overall revenues increased by some 32% to SEK393.4m, or £33.9m, reflecting the rapid growth of this innovative company. Some of this growth is due to new agreements to provide games to major operators including William Hill and Full Tilt, with several other licensing agreements to smaller companies also signed.
US Push for Net Ent
The CEO of Net Ent, Per Eriksson has stated that the time is now right to look at entering the US market. With regulations changing, particularly in New Jersey where online gambling is now legal, several games suppliers are to seek licenses to operate in both the USA and Canada, and the company is planning to launch in North America later on in 2015.
The MD of Net Entertainment Malta, Bjorn Krantz, is to head up the project to gain a US license, with his deputy Enrico Bradamante taking over his position.
Commenting on the US move, Eriksson has said ''Net Ent has been evaluating the developments in North America and believe the prerequisites and timing is right to intensify the preparation for an entry into both the US and Canada.''
Other Suppliers Target the US
With Quickspin also announcing that it is due to seek a US license, Net Ent becomes the second Swedish supplier in a month to declare that it wants to operate in what could be a highly lucrative territory. Quickspin has also signed an agreement with bwin to supply games for both mobile and desktop casino platforms, and this saw their share price rise by around 4% in early trading.