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NetEnt Reports Huge Q3 2017 Results
NetEnt, the Swedish gaming giant and one of the world’s largest online casino operators globally, released its Q3 2017 financial results. The most impressive stat is a $129m operating profit, representing a 20.5% year over year increase.
In a statement on its website, the company’s CEO Per Eriksson outlined the significant growth it experienced during the period, and also laid out plans for future expansion.
”The third quarter was another solid quarter for NetEnt. Revenues increased by 12 percent and the operating margin was significantly better than in the third quarter of last year,” he said.
Mobile, New Games Drive Growth
The report also made clear that mobile is now a significant driver of revenue for NetEnt. Revenues from mobile gaming made up more than half of all the money captured during the quarter — 52%. This is unsurprising, echoing the trend being seen across the industry as a whole. A shifting landscape of easy access also means the company seeing players become increasingly active on its platform, with 10.2 billion more gaming transactions handled, an 18% increase from last year.
NetEnt also continued to innovate in its player facing offerings throughout the quarter, adding three new games — Wolf Cub, Emoji Planet, and Legend of Shangri-La. In addition, it announced the planned addition of new titles Planet of the Apes and Finn and the Swirly Spin in the coming months.
No Sign Of Slowing Down
NetEnt is one of the best positioned companies to ride the current wave of online casino gaming expansion. With innovative mobile offerings, new games in its library, and a player base that is more active than ever, it’s no surprise the company is reporting solid financial results. It’s expected this trend will continue for years to come.
“The future outlook remains bright and for the remainder of 2017, we see conditions for continued solid growth supported by new games, increasing market shares in the UK, mobile growth, many new customers to launch and our expansion in North America,” Eriksson said.