Net Entertainment’s Revenues Rise 26.7% During First Quarter of 2014

Net Entertainment’s Revenues Rise 26.7% During First Quarter of 2014

Staff Writer
April 23, 2014

Scandinavian online casino games provider Net Entertainment have today released their first quarter revenues for 2014, revenues that show a impressive increase of 26.7% compared to the same period last year.

Net Entertainment's revenues for the first quarter of 2014 were reported at SEK188.4million ($28.7million), 26.7% up on the SEK148.8miilion of 2013. Operating profits also rose during the same period and now stand at SEK51.2million, up from the SEK41million of 2013, and their profit after tax also increased to now show SEK46.1million, up from the SEK33.8million of the corresponding period in 2013.

President and CEO of Net Entertainment is Per Eriksson and he was in buoyant mood this morning as he read the following statement. It read, “Net Entertainment had a very good start in 2014 with a growth of 26.7% while strengthening its position in Europe by signing several new customer agreements and launching several new games. Regulated markets is a strategic focus area for Net Entertainment and we are investigating the possibility for establishment in Holland and Spain which are currently regulating online gaming and we are preparing the company for the re-regulation in Great Britain which is expected to take place during the second half of 2014.”

Mr Eriksson finished off by saying, “Net Entertainment has had a strong start in 2014 and I am convinced that we will see a continued eventful year in the form of new markets, new customer agreements and new products for the company.”

A great start to the year for one of the industry's leading online gaming providers and with a number of important deals and agreements having already been agreed this year revenues will no doubt rise even further when the half yearly reports are released later this year.



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