Mobile drives NetEnt Q3 revenues up 28%
Revenues from the channel up 83% year-on-year as supplier eyes Q4 expansion into Canadian market
Online casino supplier NetEnt has reported a 28% increase in Q3 revenues, driven by significant growth from mobile and 11 new customer sign-ups during the quarter.
Revenues for the three months ended 30 September 2016 stood at SEK357.4m (£32.9m), up from SEK279.8m (£25.7m) in Q3 2015, with revenues from the Stockholm-listed firm’s mobile arm up 83% year-on-year.
Operating profit also increased 23% year-on-year to SEK129.4m (£11.9m).
During the three-month period, NetEnt signed agreements with 11 new customers and expanded its reach into a number of regulated markets including Romania, Spain and the UK.
In September the company also unveiled its new NetEnt Live Mobile product and launched the third game in its NetEnt Rocks trilogy, Motörhead.
“NetEnt’s growth strategy keeps delivering results â we grow in new markets, with new products and with more customers,” the company’s CEO and president, Per Eriksson (pictured), said.
“Mobile gaming continues to be an important growth market. We have applied the latest technology in streaming, sound and video, and as a mobile player, this is about the closest you can get to a real-life casino experience.”
Eriksson also said the supplier was aiming to enter the Canadian market in the near future and would apply for a British Columbia licence in Q4.
Earlier this month, the firm appointed Unibet board director Therese Hillman as its new chief financial officer (CFO). She will assume the role in January.
NetEnt’s share price was down 4.94% to SEK 73.15 on the Nasdaq Stockholm at the time of writing.