NetEnt has announced their numbers for October – December 2019 and 2019 year-end report. Stockholm-listed casino game developer highlighted its rising US revenue, all-time high live casino numbers and the outperforming Red Tiger acquisition.
What the Figures Say
The latest financial report displayed a fourth quarter revenue increase of ten per cent to SEK 512m (2018: SEK 465m). Red Tiger, which was obtained by the firm in September, contributed SEK 96m to that sum.
NetEnt’s full-year revenue was slightly raised to SEK 1.79bn.
On a pro forma basis, total revenues, including Red Tiger decreased by 4.8 percent compared to the corresponding period of 2018. This was due to weakness primarily in Sweden and Norway, and partially offset by revenue in the US which “continued to grow significantly”.
Comments from the Officials
Continually praising the impacts of the Red Tiger acquisition, Hillman stated: “Red Tiger was acquired with the objective to create shareholder value through increased growth and profitability for the new group”.
The CEO added: “Red Tiger adds complementary competence to the NetEnt group and we are running a number of common projects at full speed to deliver a significantly enhanced customer offering and player experience.”
The Company’s 2020 Vision
NetEnt has recently unveiled new content at the ICE exhibition in London. They’ve exhibited Starburst Power Pots, new jackpot concept, and branded games in collaboration with Gordon Ramsay, Street Fighter and Fashion TV. Riding high from the successful showcasing of product at the ICE exhibition, and supported Red Tiger purchase, Hillman concluded:
”Backed by our ongoing focus on efficiency and the acquisition of Red Tiger, we are entering the new year in a stronger position.
Our global distribution and two strong brands give us the right basis to increase our market shares in online casino. We see good conditions for NetEnt to deliver growth in 2020, supported by our combined game portfolio and live casino.”
