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NetEnt Reports 46 Percent Jump in After-Tax Profits

Swedish casino software provider, Net Entertainment, has reported a 46 percent rise in after-tax profits for the first half of 2016. A successful second quarter saw the company’s operating profits rise 32 percent from SEK 92 million in Q2 2015 to SEK 122 million in the same period in 2016.

Corporate revenues in Q2 reached SEK 352 million, which the company attributed largely to twelve new customer deals signed in that period. The company reported that it maintained its strong operating margin of 35 percent.

“NetEnt continues to drive the digital casino market with innovative, cutting-edge gaming solutions and entertaining games that are best-in-class,” announced president and chief executive of NetEnt, Per Eriksson.

“Mobile live casino is an innovative product that we have recently started to launch in a beta version with some of our customers and it has been very well received by both operators and players.”

“Mobile gaming continues to be an important growth driver for us. Revenues from mobile doubled compared to the same period last year and accounted for 37 percent of revenues in the second quarter.”

He went on to detail the importance of the UK gaming market and the strong growth that the company experiences in that market.

“In June, we signed a license agreement with Rank Group, one of the largest gaming operators in Europe with a strong market position in the UK,” Mr Eriksson continued.

NetEnt is about to launch their latest addition to their games portfolio. The video slots game, When Pigs Fly, is expected to become a popular addition to their games suite while offering up to 3,125 times players’ bets in winnings. This is possible through the up to five free re-spins and free spins bonus round. The game will be released on July 21.

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