Recovering NetEnt to ‘launch more games’ in 2019

Publishing its interim report for the third quarter, NetEnt reported a more than 10 per cent increase in revenues, year on year, driven by a margin of over 50 per cent.

Revenues for the third quarter amounted to SEK449m (€43.2m), up 10.8 per cent year on year, while earnings (EBITDA) topped SEK227m (€21.8m) in the period, up around 15 per cent and delivering a margin of 50.6 per cent.

For the year to date, revenue is SEK1.32bn (€130m) up nine per cent against the same period in 2017. EBITDA for the first nine months is SEK612m (€58.9m), a rise of 12 per cent.

In a statement, group CEO Therese Hillman said that the launch of Jumanji had given NetEnt a string start to Q3, while in September, the company beta-launched its own affiliate business. “The idea is to create a place where players can enjoy the complete portfolio of NetEnt games for free, while operators can offer bonuses to players that are interested in playing for real money,” said Hillman.

“This new service is a great way for us to strengthen our relationship with both operators and players. Our move into social casino proceeds according to plan and we recently introduced a desktop version of our Facebook app in the US.

“Customers and players wish to have more games from us, and we aim to release a significantly higher number of new games in 2019 and going forward,” said the CEO.

Hillman also said that the company would remain loyal to its strategy of focusing on growth in regulated markets. “With new customers in the important WLA segment, such as Norsk Tipping, ATG, Svenska Spel, Veikkaus and British Columbia Lottery Corporation, we can reach a larger player base and generate additional revenues in the years to come,” she said.

Hillman welcomed the re-regulation in Sweden and said that revenues from live casino “keep growing gradually from low levels”, adding that NetEnt plans to go live with additional tables this year and next.

“Now I look forward to the last quarter of the year, as we have a full release schedule with five new slot games, including our largest game production this year, Vikings, which is based on the well-known HBO series.”

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