May 30 - The Stockholm-based firm revealed that its operating profits
increased by 74.6 percent year-on-year to $3.68 million from $2.1 million while
its operating margin rose to 43 percent from last year's 39.6 percent.
Most significantly, profits after tax rose by a massive 106.9 percent to
$3.96 million from $1.91 million, helped by the signing of three new license
agreements for its CasinoModule software solution alongside two breakthrough
deals for its CasinoCafe land-based gaming system.
"This year is off to a strong start for Net Entertainment with continued
sales growth and several new license agreements," said Johan Ohman, President
and Chief Executive Officer for Net Entertainment.
"The market for online gaming shows positive development where organic growth
was the prime driver for the company during the period.
"We move into the second quarter with an order book comprising 14 casinos
that still are to be commissioned, of which three are so-called 'Tier One'
operators.
"It is my view that the company has good opportunities for continued success
as a result of our specialisation within the segment of the online market with
the highest growth and strongest profitability.
"The IT project initiated at the end of 2008 aimed at increasing our
development, delivery and operational capacity has progressed according to plan
and affected the cost base during the first quarter. The project continues
during the second quarter and creates a foundation for the continued growth and
expansion for the company."
Here is a list of
Net Entertainment Casinos.
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