NetEnt Records 28.5% Increase of Sales For 2016
Swedish gambling powerhouse NetEnt have released figures for 2016 and it has been a great year. Full year sales increased by 28.5% to a record €153.7 m. The UK became their largest regional market for the first time in December.
The company’s operating profit also increased by 33.4% to SEK536 million in 2016 .One of the main factors contributing to the impressive growth and results is NetEnt’s mobile business which drove sales with a 43% rise in the fourth quarter of 2016.
CEO of NetEnt, Per Eriksson commented on the results,” 2016 was another exciting year for NetEnt with new record levels in revenues, earnings and cash flow. The fourth quarter developed well – revenues increased by 23.9% and the operating margin improved to 39%.Great Britain continues to offer great growth potential for us and in December, it became our largest geographical market for the first time. Looking ahead in 2017, we see conditions for continued solid growth, supported by a strong pipeline of new games, UK, mobile, new customers to launch as well as our expansion in North America.”
Last year saw NetEnt enter new regulated markets like Romania, Bulgaria and Portugal after obtaining new licenses and certifications. Other large retails agreements with Gauselmann in Italy and Paddy Power in the UK also contributed to the year’s results.