Popular online casino software provider NetEnt presented yet another amazing interim report showing an increase in revenues by 37.1% during the first quarter of 2015. Their profits after tax saw a massive increase by 60.9% to 74.2 million SEK and during this quarter they processed 6.5 billion transactions across their systems, an increase of 30.8% from last year. At the same time mobile gaming has grown steadily and accounted for 20.6% of total game win in this first quarter, doubling the level for the same quarter in 2014.
The key to NetEnt’s explosive growth
Their strategy of late has been to expand on regulated markets and in March 2015 they entered into a string of new agreements, 11 in fact. Firstly with Denmark’s largest operator, government owned and WLA member Danske Spil. The agreement offered faster expansion in Denmark and global growth throughout WLA member countries. Also in March we saw them sign agreements opening the door to Spain and Latin America through Codere, one of the largest Spanish land based operators that has also recently started offering their casino games online.“Not willing to rest on their laurels they increased their online gaming portfolio and from the second quarter of 2015 will begin developing games for both desktop and mobile in HTML 5, bringing a better cross platform experience going forward”.
Possibly the most interesting development in March came from the UK where NetEnt was granted local licenses from the UK Gambling commission, sparking an opportunity to sign agreements with leading British online gaming operators Gamesys and leading to an increased UK market share among existing customers. Expansion in the UK market contributed heavily to the strong revenue growth for the company.
A constant evolution in gaming experience
With all this said it’s not just blind luck or chance keeping them at the forefront of the pack either. They have backed up their reputation as one of the best customer orientated companies in the business by delivering a cutting edge gaming experience which won them recent accolades in February 2015 for Slots Provider/Supplier Product of the Year for both online and land-based casinos at the International Gaming Awards in London.
Not willing to rest on their laurels they increased their online gaming portfolio and from the second quarter of 2015 will begin developing games for both desktop and mobile in HTML 5, bringing a better cross platform experience going forward. Add to this a mind blowing collaboration between NetEnt and Universal Music, the highly anticipated video slot based on the music of arguably the world’s best known rock band Guns N’ Roses and you can see where this has the potential of heading.
Boom or bust, what does the future hold for NetEnt?
These are certainly some impressive figures and a recent statement from NetEnt President and CEO Per Eriksson reflects the upbeat mood that’s been resonating from the NetEnt camp of late.
On the back of news about their impressive performance in the first quarter of 2015, Eriksson stated "We have made a very strong start to 2015, reaching new record levels for both revenues and profits. Our innovative gaming solutions as well as our strong expansion on new and existing markets are among the reasons for the high growth and good profits.”
He went on to conclude “We have strong momentum - our customer offering is world-leading and we are well prepared to seize new business opportunities on the growing digital casino market."
These are bold words and we’ll be looking forward to the figures from the second quarter, not only to see if he was right but also to see if the brand can maintain and build upon it’s currently winning formula. The team here at casinobonusesindex.com are interested in what cards Eriksson and NetEnt have up their sleeves for the rest of 2015, let us hope they don’t get caught bluffing.