Publishing its Q3 trading results for 2017, content and games developer NetEnt has outlined mobile games and regulated markets such as the UK, Italy and Spain as the main reason behind its 12.3% revenue increase.
The results mark a significant improvement on the comparable results of the previous year, with the group increasing operating profit by 20%, in what Per Eriksson, President and CEO described as “solid growth.”
Eriksson stated: “The third quarter was another solid quarter for NetEnt. Revenues increased by 12 percent and the operating margin was significantly better than in the third quarter of last year. Mobile games and regulated markets such as the UK, Italy and Spain contributed the most to our growth.”
Highlighting factors that aided its continued growth, the results emphasised the importance of mobile games, which as a product accounted for 52 percent of total revenues in the quarter, adding to this, NetEnt’s system’s recorded an 18% increase on the previous year and the group revealed it signed agreements with eight new customers and launched ten new customers’ casinos.
Another underlying source for the profitability of the group was the continued growth outside of the Nordic region, with the Italian and UK market being touted as the most beneficial for the group. Looking ahead to the remainder of 2017, Eriksson added: “We see conditions for continued solid growth supported by new games, increasing market shares in the UK, mobile growth, many new customers to launch and our expansion in North America.”