NetEnt Sees Big Q3 Growth Due To New Markets

NetEnt are one of the biggest names in the online gambling world and have been for a long time, but no company is immune from the effects of law changes and the ever changing regulations of an industry trying to get ahead of various issues.After firing former CEO Per Eriksson, who was replaced by Therese Hillman, NetEnt have looked to improve on disappointing financial results, and they have accomplished that with style in the third quarter of 2018.

New markets

A large reason for the success of NetEnt in the third quarter of 2018 is the steps they have made into new markets.Deals in Norway with Norsk Tipping, New Jersey with Hard Rock Atlantic City’s online casino site, Canada with the British Columbia Lottery Corporation, and in Lithuania have expanded the already huge global presence of the software giant.2017 saw NetEnt leaving markets including Australia and the Czech Republic, but they have sought to rectify that in 2018, and that is clear in the financial reports.


NetEnt reported revenue of SEK449 million in the quarter, an 11% rise on last year, with earning up nearly 17%, with after tax profit rising nearly 10%.Hillman claimed that the release of the hugely successful Jumanji slot at the beginning of the quarter lit the fire for NetEnt, while increasing the pace of game releases and lowering overheads also helped.With nine new customer agreements being signed in the third quarter, and deals with Finland’s Veikkaus and Svenska Spel in Sweden among those already signed in the fourth quarter, as well as a deal with Penn National Gaming in Pennsylvania this week, it’s clear that NetEnt intend to continue this growth going forward, and it’s hard to argue with their ability to do so.

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