Net Entertainment has unveiled their official Interim Report for 2019. This new portfolio of financial developments will highlight what has been improved over the years, any shortcomings, and what could be in store next for the business.
Revenues for the third quarter of the fiscal year have shown the big improvements, with profits earning up to 443 SEK million. Profit after taxes have amounted to 97 SEKm, and earning per share have been up to 0.32 SEK. With a strong start in the first nine months, they have continued to grow exponentially with improvements to connects of other well-established providers.
Perhaps the most noteworthy partnership came from the one they made with Red Tiger Gaming. With an acquisition backed primarily through bank loans, a deal was struck with the companies combining their portfolios and using each other’s target audiences for improved profits. Thanks to these other connections, NetEnt have even been able to release games in Pennsylvania and New Jersey, such as DraftKings and other new titles. Thanks to the research committed by the Interim Report, it is said that annual revenue could potentially increase up to 150 SEK million every year. NetEnt prides itself on twenty-two regulated markets and more than 200 active users and hopes for more given the new acquisition.
The Group CEO of NetEnt, Therese Hillman, issued the following statement. “The two companies complement one another well, both in terms of geography and product offering, and together we believe we can attain a stronger market position and realize economies of scale throughout our business”.
You can view the full Interim Report online or from Therese’s own live webcast.