Online Gambling Software Developer Net Entertainment Profits Rise

Written By Janice Doughtrey

Net Entertainment, one of the world’s largest online gambling software developers, has announced a net increase in sales of 36 percent for its third quarter figures, after-tax profits up 73 percent and the addition of five new Casino Module licensees.

Net sales for the company reached $5.09 million, which is up from the $3.74 million from the same period in 2006.

After-tax returns were up at $1.53 million, from $887.085 from the same time last year with a net profit margin also up at 33.5 percent from 26.6 percent.

Chief Executive Officer for Net Entertainment, Johan Ohman, said, “During the third quarter, our sales increased nine percent compared to the pervious quarter.”

“The growth is driven by a strong product that is well received by the end user, combined with favourable external factors such as a relatively early autumn, which has positively affected gaming activity,” he said.

Ohman also stated that 13 new licensing agreements have been signed in 2007 including five during the third quarter.

“The market for online gaming is constantly changing, which is accentuated by the rise of new market and player segments that will contribute to the industry’s continued growth,” Ohman said.

“Net Entertainment’s active, continuous product development ensures that our products meet changes in demand. This will not only further increase our competitive strength and the profitability of our licensees but also increase demand for Net Entertainment’s products,” he concluded.

Leave a comment