2016 has proven to be a very good year for NetEnt, as the Swedish online casino games software developed have announced their financial results for the third quarter. Overall, they have increased their year on year revenue by over 27% with $40 million in operating profit, while their overall reach has increased to 22.9% and $14.51 million.
If you’re a member of Betfair, Stan James or Mr Smith online casinos, you’ll already be familiar with a number of NetEnt games, including the Guns ‘n’ Roses slots game. The popularity of NetEnt’s brand has increased to the point where they have signed agreements with 11 new clients to launch eight new online casinos which is good news for all fans of their many games.
Throughout the third quarter, NetEnt have launched new games with the Rank Group, while they’ve also agreed new deals with a number of operators throughout the Romanian market and launched their first ever mobile only, live casino service.
This means, across the first 9 months of the year, NetEnt have announced revenues of $118 million, which is a steady 30% rise year on year, and their operating profit has risen by 35% to $42 million. This year alone, they have launched 22 new client websites and signed 32 new customer agreements.
NetEnt’s continued growth, inside a growing online casino industry, is nothing short of impressive as they find themselves expanding into newer markets and continually attracting new customers. While the UK will always be among the most important markets for Netent, breaking into the Romanian territory is certainly an impressive coup. It is also impressive that NetEnt have remained profitable in the UK despite the falling value of the pound following the Brexit vote in June. NetEnt are already focused on continuing their strong sales growth throughout the rest of 2016, into 2017 and beyond.