Net Entertainment Delivers H1 Results

NET ENTERTAINMENT DELIVERS H1 RESULTS

15th July, 2011 at 09:26:41
Source: http://www.azonlinecasinos.com

Positioned for growth

Swedish online gaming developer and provider Net Entertainment announced its results for the six month period ended June 30 2011, this week.

Key performance indicators include:

- Increase in Revenues by 10.2% to SEK 195.1 million (H1/2010: SEK 177.1 million)

- Operating profit of SEK 53.5 million (H1/2010: SEK 68.6 million)

- Operating margin was 27.4% (H1/2010: 38.7 percent)

- Profit after tax amounted to SEK 48.0 million (SEK 61.4 million)

- The period under review resulted in two new license agreements and the launch of four new customer's casinos.

Net Entertainment is looking forward to the opening of the Italian online casino market where its customer base represents a significant market share. The company holds agreements with operators Gioco Digitale, bwin.it, Microgame and Intralot that are ready for launch once formal approval is given by the Italian regulator AAMS.

The gaming firm's mobile casino games development is progressing and launch of its first games are scheduled during the remainder of 2011.

Johan –hman, President and CEO, Net Entertainment said: "Overall Net Entertainment is well positioned and I expect we will see the results from the investments we have made in the business in the coming quarters."

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