Net Ent posts record figures in Q2, signs up with bwin party
Gaming content developer Net Entertainment has cited strong development with its customers as the main reason behind a jump in revenue during the three months to June 30, 2014 and announced a content supply deal with bwin party.
The company reported revenue of SEK205 million (€22.2 million/$30.3 million) in the second quarter, an increase of 37.8% on the SEK148.7 million achieved in the corresponding period last year.
Operating profit in the latest quarter also increased from SEK38.7 million in the previous year to SEK56.7 million this year.
Net Ent also reported that profit after tax increased from SEK39.6 million in Q2 of 2013 to SEK52.5 million in the most recent quarter.
The figures from the second quarter places Net Ent’s revenue for the first six months of the year at SEK393.4 million, an increase of 32.2% on the SEK297.5 million achieved in the same period last year.
Operating profit for the first six months is up 35.5% to SEK107.9 million while profit after tax has increased from SEK73.4 million last year to SEK98.6 million this year.
“The second quarter showed positive development and the revenues increased by 38% compared to last year, which was another record,” Net Ent’s president and chief executive Per Eriksson said.
“The increase was primarily attributable to strong development with Net Ent's customers, but also due to more set-up fees than usual in combination with a positive currency development.
“In addition the 2014 World Cup did not affect revenues negatively, which is often the case during larger sport events as it can take attention from casino.”
Meanwhile, Net Ent has also agreed a deal to provide online gaming operator bwin.party with a range of its online casino games.
Under the agreement, a number of Net Ent titles that are playable on both desktop and mobile devices will be added to the bwin.party platform.
Björn Krantz, managing director of Net Ent, said: “Bwin.party is a major player, and we are confident that our portfolio and operational leadership will support bwin.party’s agenda to drive its casino business forward.”
Golan Shaked, director of games at bwin.party, added: “We are upgrading our casino experience, focusing on content, user experience and multi-platform game play.
“The addition of Net Entertainment’s games, including titles such as Starburst, Gonzo’s Quest and TwinSpin, will significantly enhance our casino content offering and the entertainment we provide to our customers around the world.”
Related article: Net Entertainment boosted by European growth in Q1