Net Entertainment release positive H1 results

Written by BrainBetting Team Saturday, 16 July 2011 20:19

Gambling News - Casino News

Swedish online gaming developer & provider Net Entertainment announced its results for the six month period ended June 30 2011, this week.

Key performance indicators include:

- Increase in Revenues by 10.2 percent to SEK 195.1 million (H1/2010: SEK 177.1 million)

- Operating profit of SEK 53.5 million (H1/2010: SEK 68.6 million)

- Operating margin was 27.4 percent (H1/2010: 38.7 percent)

- Profit after tax amounted to SEK 48.0 million (SEK 61.4 million)

- The period under review resulted in two new license agreements & the launch of four new customer's casinos.

Net Entertainment is looking forward to the opening of the Italian online casino market where its customer base represents a significant market share. The company holds agreements with operators Gioco Digitale , bwin.it , Microgame & Intralot that are ready for launch once formal approval is given by the Italian regulator AAMS .

The gaming firm's mobile casino games development is progressing & launch of its first games are scheduled during the remainder of 2011.

Johanhman, President & CEO, Net Entertainment said: "Overall Net Entertainment is well positioned & I expect we will see the results from the investments we have made in the business in the coming quarters."

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