iGaming Business – Online casino games provider Net Entertainment has cited the effect of earlier investments as the reason behind year-on-year revenue increase to record levels in the 12 months through to December 31, 2013.
The firm posted record full-year revenue of SEK630.7 million (€71.6 million/$97.9 million), a 19.8% increase on the SEK536.7 million achieved in the previous year.
Operating profit for the year grew from SEK153.1 million in 2012 to SEK179.7 million in 2013, while profit after tax amounted to SEK167.1 million, up from SEK136.1 million in the previous year.
Net Entertainment signed a total of 27 licence agreements in 2013 while 20 new customer casinos were also launched.
The firm’s record full-year revenue levels were boosted by an impressive fourth quarter, in which Net Entertainment posted revenue of SEK180.1 million, a year-on-year increase of 24.5%.
In addition, operating profit was up to SEK55.6 million for the period, while profit after tax also grew from SEK34 million in Q4 of 2012 to SEK56.1 million in the most recent quarter.
Per Eriksson, president and chief executive officer of Net Entertainment, said: “Year 2013 has been a fantastic year and Net Entertainment has started to see the effect from several investments that were carried out during 2012 and revenues reached record levels.
“One of the company’s most successful efforts has been casino games through mobile units. Net Entertainment has won several prices and received great appreciation from the company’s customers and is known as one of the world’s most prominent suppliers within this segment
“Regulation of online gaming is expected to continue during 2014 and if the prerequisites are right for the company there is a high probability that we will enter more regulated markets in coming years.
“Net Entertainment has an eventful year ahead with many exciting projects and challenges. I am convinced we will strengthen our position further on the market and maintain good growth with good profitability.”
