NetEnt 2019 revenue up 1% with “continued weakness” in Scandinavia

EBITDA was SEK 261m, an increase of 28%, while earnings after tax were SEK 113m, down 21%.

In total, the supplier saw full-year revenue of SEK 1.79bn for 2019, a rise of 1% from 2018, while EBITDA was SEK 855m, up 5%.

These figures include SEK 59m of acquisition-related transaction costs and amortization, and SEK 29m of acquisition-related financing costs.

After being consolidated in September 2019, Red Tiger contributed SEK 126m to revenue and SEK 93m to EBITDA.

The supplier attributed its limited growth to “continued weakness in mainly Sweden and Norway,” but was pleased with its business in the US, which “continued to grow significantly.”

Therese Hillman, Group CEO, said: “Since December, we have seen all-time highs in the number of players for our live casino, which supports our belief in growing revenue from this segment.

“Since the acquisition, Red Tiger has exceeded our expectations and now forms a vital part of our ongoing improvement efforts within the NetEnt Group.

“We see good conditions for NetEnt to deliver growth in 2020, supported by our combined game portfolio and live casino.”

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Owain Flanders

Journalist

Owain Flanders is a journalist who spent over a year with Gambling Insider, first joining as an Editorial Intern in August 2019 before progressing to Staff Writer from November 2019 to December 2020. During his tenure, he covered a wide range of developments across the global gambling and iGaming sectors, producing original news stories, in-depth features and analytical pieces for the Gambling Insider website and its bi-monthly magazine.

Owain interviewed CEOs, analysts and senior marketing executives on emerging trends, regulatory issues and commercial strategy, bringing authoritative insight to a professional B2B audience.

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