NetEnt preparing for US entry as Q3 profit soars 65%
CEO Per Eriksson expects to be live in Spain in H1 2015 as new licensees bolster revenues
Net Entertainment CEO Per Eriksson revealed preparations for the supplier’s launch into the US market have commenced after it reported Q3 profits jumped by almost two thirds.
The firm’s operating profit for the three months ended 30 September increased 65% year-on-year to SEK73.4m (£6.3m) on the back of a number of new licensees including the likes of Betfair, which went live with NetEnt products during the quarter.
Seven new licensing agreements and casino launches boosted Q3 revenues by 42% year-on-year to SEK217.2m (£18.7m), with mobile now representing 16.5% of the supplier’s revenues following continued investment into the channel.
Eriksson said that the supplier would “continue our strategy to expand into markets” and would now apply for a New Jersey licence to start its push into the potentially lucrative US casino market.
NetEnt is also in the process of preparing a licence application for Spain with H1 2015 earmarked as a potential go-live date for the firm after the country re-opened its licensing window earlier this month.
Eriksson said the UK market remains a key area of focus and said the firm had “high expectations” for the UK for revenue growth.
The software firm also said it had agreements with 14 operators yet to be launched including deals with Full Tilt and bwin.party.