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NetEnt Reports Q3 2017 Financial Results
NetEnt, one of the world’ largest producers of online casino games, released its Q3 2017 report in a statement on its corporate website. Its revenues were $47.5m, a 12.3% year over year increase. Operating profits rose to 18.5m, a 20.5% increase from last year.
In addition, the company undertook a number of new initiatives, most notably the launch of its “Live Rewards” program designed to bolster the attractiveness of its live casino offerings.
”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. Mobile games and regulated markets such as the UK, Italy and Spain contributed the most to our growth,” said Per Eriksson, NetEnt’s CEO.
Mobile Revenues Growing
The report also discussed the state of the company’s mobile games offerings. As the industry continues to shift towards mobile gaming, its a vertical that increases in importance every day. NetEnt is currently enjoying strong growth there, with 52% of revenues coming from its mobile games.
Overall, the quarter was highlighted by the release of the Wolf Cub, Emoji Planet, and Legend of Shangri-La slots. All three were well received by online casino players, and their mobile friendly design contributed to the increase in revenues.
Eriksson also discussed the increasing importance of continuous innovation in order to remain competitive in a tough industry. Most notably, he echoed the sentiments of many other online casino executives in declaring that increased focus would be placed on backend systems that will provide better data for future decision making.
“Competition is toughening among operators and we are convinced that our customers need to use gaming data in a better way to be able to optimize their marketing spend. Looking ahead, we will continue to develop new services that support our customers to drive growth,” he said.