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Net Entertainment reports stellar second quarter, Gaming Intelligence

Online casino developer Net Entertainment has posted a 32.2 per cent increase in revenues and a 45.5 per cent increase in operating profit for the second quarter, driven by setup fees for new deployments and higher spending by players.

 

Net Entertainment said Friday that revenues for the second quarter climbed from €99.9m a year ago to €132.0m, with operating profit climbing from €27.2m to €39.6m on an improved operating margin of 30 per cent.

 

Profit after the tax for the period amounted to €36.7m, an increase of 46.2 per cent year-on-year, with earnings per share climbing from €0.64 a year ago to €0.93.

 

For the six month period ended June 30th, Net Entertainment’s revenues amounted to €259.5m, a rise of 33 per cent, with operating profit and net profit up 49 per cent to €79.7m and €71.4m respectively.

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Increased volumes aid Net Entertainment growth, iGaming Business

Increased volumes aid Net Entertainment growth, iGaming Business | Poker & eGaming News | Scoop.it

Online gambling software developer Net Entertainment AB has released its interim financial results for the first quarter of 2011 showing that revenues increased by 33.9 percent year-on-year to $18.97 million (SEK127.5 million).


Stockholm-based Net Entertainment revealed that its operating profit for the three-month period rose over 52 percent year-on-year to $5.96 million (SEK40.1 million) from a margin that had improved 3.8 percent to 31.4 percent.


All of this saw the Swedish firm report a profit after tax for the first quarter of $5.14 million (SEK34.6 million), which was a 51 percent improvement when compared with the same period last year.


“We are also starting to see results from the investments we have made in Italy, which is now the company’s third largest market where Norway and Sweden are the two largest markets.“


“Historically, Net Entertainment has had a small presence on the UK market, which is Europe’s largest market for online games. Positive discussions are ongoing with several operators.“

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