Positive performance in gambling in Q4 2014 totaled $28 million for NetEnt
Net Entertainment (NetEnt), the online gaming content developer, divulged information showing that despite stringent Swedish gambling laws they managed to reach a record revenue in 2014, thanks to a larger number of online players which mostly explained the high rise in revenue.
Full-year revenue was $101.8 million, which mirrors a year-on-year increase of 35%. Operating profit was up 45.6% year-on-year and the operating margin increased from 28.5% 30.7%, over the 12 previous months. Operating profit for the fourth quarter jumped 44.5% year-on-year while net profits in the period accounted for amounted to $9 million.
World-class entertainment and riveting games good combination to gaming success
Chief executive officer of NetEnt, Per Eriksson, said that “2014 was another fantastic year for NetEnt with revenues, operating profit, cash flow and proposed transfer to shareholders all reaching new record levels. Revenue growth for the full year, even adjusted for currency changes, is the highest ever for the company, with a continuing strong operating margin”.
The company chalks this down to new players checking out their Swedish Poker rooms for example, on mobile devices, and the favorable currency conversions last year. Eriksson said he was “convinced that NetEnt’s focus on developing world-class entertaining and thrilling games makes us well positioned to keep growing on existing and new markets.”