Continuing the strong performance in the market in 2015, NetEnt has posted impressive all round gains in the Q1 results of 2016. NetEnt has shown remarkable gains in revenue collection, operating profits and in profit after tax during the Q1 as a result of expansion drive the company is undertaking.
With host of brands including 777 casino, Playamo casino and EUcasino, NetEnt is now one of the major players in the online gaming sector. The strategy of NetEnt to target the New Jersey market seems to be paying off handsomely as all financial parameters showing an increase of about 50% over the last fiscal.
Partnering With Existing Licensees
The New Jersey foray of NetEnt has contributed to massive gains for the company as not only new casinos have been opened, but contracts have been made with other players in the region which has boosted the online casino revenue in the state. In the first quarter of 2016, as many as eight casinos have been inaugurated and nine agreements have been entered with other licensees. CEO and President of NetEnt, PER Erickson, has acknowledged that the New Jersey targeted expansion has helped the company in its forward march in the industry.
Expansion, The Catchword!
NetEnt has taken the expansion route to propel its growth, by wisely and ambitiously targeting the markets in North America and Europe, since the potential of these markets is very huge. Buoyed by favourable results in the first quarter of the fiscal, NetEnt is optimistic of firming up the profits for the year 2016. NetEnt has not merely concentrated in expanding base to newer markets, but has been coming up with new games too from time to time to entertain and retain its clients. Thus, in January, NetEnt has launched a new slot game by name Guns N Roses slots.
The response to this game has far exceeded the expectations of even the management of the company. Few more games are to be released over the next few months and this includes slot games drawing inspiration from the music and animation of Jimi Hendrix and Motorhead. These new games being launched under the banner of NetEnt Rocks are turning out to be the latest craze among the casino fans.
Rising Anticipation Among Casino Enthusiasts
The methodical way in which NetEnt has been making inroads in to the casino markets has made the casino fans eagerly wait for the next step of the company. Since NetEnt is known for bringing in innovative and bold initiatives in the casino market, the casino fans always keep an eye on what the company is offering them periodically. This is one of the reasons for the success of NetEnt. The success of NetEnt could be easily quantified as it has been able to show an increase of 33% in sales turnover and 57% increase in operating profits in the first quarter of the fiscal 2016. Aggressive intent of NetEnt followed up by judicious planning has made NetEnt as a leading player in the casino market.Read More