|
May 6, 2008
Net Entertainment, the Swedish online gambling turnkey provider and games developer with a stake in online bingo games development, has posted a good start to 2008 showing positive 1st quarter results. Sales, profits and margins all increased with net sales moving ahead by 27% and operating profit increasing by 35.1%. Net profit margin for the company is up 36.1%, in increase of 2% on the previous quarter. Net Entertainment CEO Johan Öhman said: "Net Entertainment achieved strong development in the first quarter, with a 27 percent increase in net sales over the same period in 2007 and a 17.7 percent increase over the previous quarter. "Profitability continues at a healthy level and the operating margin rose to 39.6 percent for the quarter. Growth is being driven by the generally strong growth in the market, successful new games and new customers opening a number of casinos in the quarter. "Net Entertainment continues to make good sales progress and four new licence agreements for CasinoModule were entered into during the quarter. One of the agreements is with leading Internet operator, Bet-at-home.com. In addition, a pilot order for CasinoCafe was secured." Ohman believes the online gaming market will continue to grow with Net Entertainment being able to benefit via the growth of its current licensees. "Our highly competitive product portfolio and continuing focus on the development of new, innovative games also present us with excellent opportunities for entering into agreements with new customers," he said. "I am convinced that our healthy order book, strong product portfolio and brisk pace of development provide us with excellent opportunities for continued profitable growth." Net Entertainment recently signed a license agreement with a well established, yet anonymous online bingo operator. The unnamed company has an established presence as leading bingo online operator in the rapidly growing Swedish online bingo games market. Written by John Witherspoon – Come and play online bingo at its best! The best bingo games online are one click away.
To read previous news please check out our bingo news archive.
To subscribe to our RSS feed and recieve the news daily please click the button: 
| 
