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Mixed Results For NetEnt For The Final Quarter Of 2017 On A Year-On-Year Basis

19.02.2018 01:46
NetEnt’s Results For The 4th Quarter Of 2017The results for the final quarter of 2017 are out in the public and NetEnt has reported theirs being mixed with a 4.7% rise in their revenues on a year-on-year basis.
NetEnt’s final report for last year states that their gaming revenues for 2017 total to SEK 419 million, compared to the same period in 2016 when they have totaled to SEK 400 million.
Last year was somewhat turbulent for the operator, where they actually reported a decline of 3.9% in their operating profits, compared to the year before. Or from reporting SEK 156 million in 2016, they dropped to SEK 150 million in the same period, last year.
However, not everything is as dark as it seems for the company. The taxed company profits have risen by 1.5% in 2017, or NetEnt reported SEK152 million last year, whereas, they have reported SEK 150 million for the same period of 2016.
Last year has been fertile for the company’s expansion especially at the end, meaning, they signed 8 new customer agreements and launched 11 new customer casinos at the end of the year.
Overall, NetEnt’s total annual revenues have increased by 11.7%, or they have reported SEK 1.625 million in 2017, compared to 2016, when they reported SEK 1.455 million.
Their operating profits have gone up by 9.5%, to SEK 587 million in 2017.
After taxation, NetEnt’s profits for the entire year have gone up as well, from SEK 504 million in 2016 to SEK 552 million in 2017. In total, they have signed 37 new customer agreements and 35 new casinos launched in 2017.
Not to forget also that NetEnt has been awarded Online Casino Supplier of the year at the Global Gaming Awards that happened in London, earlier this month. They have been nominated with some serious rivals for the award, such as Playtech and IGT.
Per Eriksson, the company’s CEO, commented the results of NetEnt for 2017 saying: “2017 was another eventful year with profitable growth for NetEnt, even though we had expected a much better outcome. Our strategy to grow on regulated markets remains in place and during 2017 we terminated deliveries of games to operators in Australia, Poland, and Czechia, which affected revenues negatively by three percentage points in the fourth quarter. “
“The global market for online gaming continues to grow, supported by digitalization and the mobile development. We are challenging the traditional gaming industry with our digital business model and see that the migration to online from offline continues unabated. Only five percent of all casino gaming globally takes place online, the rest still occurs in land-based gaming environments. The online casino penetration is higher in our core markets in Europe where we have high market shares and we have experienced slower growth in the Nordics, especially in Norway, while growth has remained strong in re-regulated markets like Italy, Spain, Britain and New Jersey.”
“In 2018, we are increasing our commercial focus and optimizing our organization to make sure that revenues grow more than costs. I look forward to a new year with more game releases and product news than ever for NetEnt.”
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