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FinancialIndustry

NetEnt record sales pushed by mobile gaming in Q4

NetE

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nt has announced that its full year sales for 2016 increased by 28.5% to a record £130.8m. The company’s operating profit amounted to SEK356m in 2016, an increase of 33.4% from 2015.

NetEnt mentioned that its mobile gaming business continued to be an important growth driver, accounting for 43% of revenues in the final quarter.

NetEnt’s President and CEO, Per Erkisson comments: “2016 was another exciting year for NetEnt with new record levels in revenues, earnings and cash flow. The fourth quarter developed well – revenues increased by 23.9% and the operating margin improved to 39.0%.

“Great Britain continues to offer great growth potential for us and in December, it became our largest geographical market for the first time.

“Looking ahead in 2017, we see conditions for continued solid growth, supported by a strong pipeline of new games, UK, mobile, new customers to launch as well as our expansion in North America.”

In the fourth quarter of 2016, NetEnt singed 13 new customer agreements and 12 new customers’ casinos were launched. Full the full year, 45 new customer agreements, 34 new customer’s casinos were launched and the company had 31 signed customers that were yet to be launched.

NetEnt’s games were also launched on the regulated markets in Romania, Bulgaria and Portugal last year, following new licenses and certificates.

For 2017, NetEnt expects revenues to be line with the fourth quarter of 2016. NetEnt governance has stated that they plan to increase the number of employees whilst enhancing the product offering, integrating more customers on new regulated markets.

“With this in mind, we foresee higher costs and an ongoing need to invest during 2016. These are all projects that will enable continued solid growth for NetEnt going forward.”

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