NetEnt revenues improve

ider NetEnt has reported a 35% revenues increase to SEK 529.5m (approximately £40.2m) for the first six months of 2015.

Operating profit went up 62% to SEK 174.5m and profit after tax ascended 63% to SEK 160.7m.

Earnings per share were SEK 4.03 before dilution and SEK 4.02 after dilution.

NetEnt signed 20 licence agreements with new customers and the casinos of 15 new customers were launched.

The results for the first six months of 2015 were published along with results for the second quarter of 2015, where revenues increased 32% to SEK 271.2m and operating profit went up 63% to SEK 92.7m.

NetEnt president and CEO Per Eriksson said: “The margin increase was driven by growing revenues and economies of scale, offsetting continuing investments in new staff, product development and new markets.

“We also signed our first two customer agreements in New Jersey, and entered a cross-patent licensing agreement with IGT for the North American market. These contracts are very important as they form the basis for our licensing process and entrance into the North American market.

“Around 95% of all casino gaming still takes place offline and it is strategically important for us to capitalise on the trend of increasing convergence between offline and online.”