The renowned Swedish online gambling technology provider Net Entertainment has followed up their record breaking Q2 stellar with a Q3 trading update. This time again the flashlight is upon Net Entertainment for following up the Q2 record with an equally fantastic Q3 record. Revenue rose 42% year –on-year to SEK 217.2m which means $30m again, the earnings have leapt to SEK 73.4 or$10.1 m which is almost 65% rise. For the first 3 quarters of 2014, the revenue was up over by 35% while earnings and profit are both up to 46%.
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Game transaction rise up to 37% inQ3 and mobile channels accounted for 16.5% for group revenue which is rise of 13% from Q2. Thus the contribution of mobile channels has gone up significant in Q3. Interestingly enough, the total number of live casino customers has gone up from 27, as recorded in Q2 to 32, as recorded in Q3. However, this number was just 18 in Q1. Thus this number has almost doubled up in the third quarter.
Net Entertainment has linked seven new customer agreements in Q3. It includes two major deals with Bwin.party and Betfair. Net Entertainment also has deals with fourteen new customer which is yet to be launched including Amaya gaming’s new acquisition Full Tilt . Amaya Gaming’s new studying the potential for acquiring a Spanish license on the preset that the country’s moves to at last validate online slot play. .Net Entertainment is now opting for applying a license under UK legislation. Therefore, it is a financial burden over the online gaming providers as they have to pay tax to the Uk government. There is much more to share. In Italy, New Entertainment has begun to work with the regulatory body of AAMS for putting the screws to operators who do not have any Italian licence and Net Ent opines that it “does not intend to deliver the company’s products to unlicensed operators in Italy after the end of 2014.”
While the Net Entertainment intends its European focus, CEO of this Swedish company Net Ent, Per Eriksson announced in july that Björn Kravitz ,the managing director Net Ent Malta’s operation, would spearhead the company’s push into the US regulated online gambling market in New Jersey. In addition to this, Net Ent has also announced that Enrico Bradamante would assume the former job responsibility of Björn Kravitz effective January 2015. Bradamante is the present deputy boss of Malta operations.