Finance

NetEnt grows annual sales and UK market

2 minutes read
NetEnt has announced that its full year sales for 2016 increased by 28.5% to a record SEK1.5 billion (€153.7 million/£130.8 million) and said the UK became its biggest regional market for the first time in December.

NetEnt has announced that its full year sales for 2016 increased by 28.5% to a record SEK1.5 billion (€153.7 million/£130.8 million) and said the UK became its biggest regional market for the first time in December.

The company’s operating profit amounted to SEK536 million in 2016, an increase of 33.4% from 2015.

NetEnt cited its mobile gaming business, which grew by 43% in the fourth quarter of 2016, as a big driver of sales.

Per Eriksson, chief executive of NetEnt, said: “2016 was another exciting year for NetEnt with new record levels in revenues, earnings and cash flow. The fourth quarter developed well – revenues increased by 23.9% and the operating margin improved to 39%.

“Great Britain continues to offer great growth potential for us and in December, it became our largest geographical market for the first time. Looking ahead in 2017, we see conditions for continued solid growth, supported by a strong pipeline of new games, UK, mobile, new customers to launch as well as our expansion in North America.”

In the fourth quarter, NetEnt agreed new retail deals for gaming machines with Gauselmann in Italy and Paddy Power in the UK.

The company signed 45 new customer agreements and launched its games with 34 new customers in 2016.

NetEnt’s games were also launched on the regulated markets in Romania, Bulgaria and Portugal last year, following new licenses and certifications.

Related article: NetEnt launches in Bulgaria

Subscribe to the iGaming newsletter