Netent's Interim report and their latest news - this is what they had to say:Interim report January–March 2020Quote:Quote from Therese Hillman, Group CEO: “To further strengthen competitiveness and increase efficiency, we initiated a full integration with Red Tiger during the quarter. Red Tiger keeps performing above our expectations with its award-winning games and the expansion to new markets continues. Combined with a strong product pipeline, new regulated market entries and the Live Casino opportunity for NetEnt, this puts us in a good position to continue delivering profitable growth in 2020.”
Important events in the first quarterRevenues for the first quarter amounted to 518 (418) SEKm
Full integration with Red Tiger initiated in order to realize further synergies.
Several new initiatives presented within Live Casino, e.g. new tables in Malta studio and upgraded user interface for mobile gaming
12 new slot games released, six from
NetEnt and six from
Red Tiger, of which Piggy Riches Megaways was the most successful game
Quote:Theresa Hillman also added: "Revenues for the first quarter of the year amounted to SEK 518 (418) million, supported by a strong finish in March and a weaker Swedish krona. On a proforma basis (including Red Tiger in the previous year’s figures), the Group’s total gaming revenues increased by 12 percent in euro compared to the same period in 2019. Most of the growth came from the US and the UK, while developments in Sweden and Norway continued to be negative. Locally regulated markets accounted for 50 percent of Group gaming revenues in the quarter. The largest locally regulated markets for the Group were UK (19 percent of gaming revenues), Italy (8 percent) and USA (7 percent). Sweden accounted for only 6 percent of gaming revenues, which is significantly lower than before the re-regulation of the Swedish market."
About NetEnt:NetEnt AB (publ) is a global gaming company, providing premium gaming solutions to the world’s most successful online casino operators. The product portfolio includes the NetEnt and Red Tiger brands. Since the start in 1996, NetEnt has been a true pioneer in driving the market with innovative games powered by a cutting-edge platform. NetEnt is committed to creating the future of gaming, is listed on Nasdaq Stockholm (NET–B) and employs around 1,100 people in Malta, Stockholm, Sofia, Kiev, Krakow, Gothenburg, Gibraltar, Isle of Man, London and New Jersey
(Source: Netent)NetentRed Tiger Gaming