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2017 Was an Exciting Year for Net Entertainment

- April 12, 2018 By Riley Wilson -

Mixed year for NetEnt

NetEnt enjoys another strong year; long-term CEO sacked.

NetEnt has published its annual business report, which covers the twelve-month period ending on December 31, 2017.

According to the released data, one of the most prominent brands in the online casino gaming market had another eventful year.

Numbers Tell the Whole Story

During the last year, NetEnt has expanded its business to other markets, thus increasing the overall profits 11.7% when compared to 2016. The overall profits at the end of the last year were €160 million, with the operating margin of 36.1%.

The company’s successful expansion to other regulated markets in Europe and the United States was the main driving force behind such a result.

The company’s successful expansion to other regulated markets in Europe and the United States was the main driving force behind such a result.

NetEnt has started operating in New Jersey during 2017, and its current position in the UK, Spain, Italy, and Denmark was further strengthened. The company entered two new markets this year, offering its services to customers in the Czech Republic and Serbia for the first time.

Even though the latest data showed a significant boost in the company’s overall profit, NetEnt’s governance wasn’t exactly satisfied with the results. 

There Were Ups and Downs

NetEnt at first had to withdraw from the Czech Republic after new regulations were passed, and the similar happened in Austria and Poland.

In addition to that, another unfortunate event was the dismissal of the company’s long-term President and CEO, Per Eriksson, who was let go after the board of directors made such a decision following the 2017 financial results. Eriksson spent 5 years at NetEnt.

NetEnt also released a couple of new titles last year, including a new jackpot slot named Divine Fortune, followed by Jungle Spirit: Call of the Wild, Hansel and Gretel, and new Fairytale Legends game.

New imaginative and feature-packed slots, Planet of the Apes and the Finn and the Swirly Spin game marked the end of the year.

Company’s plans for 2018 are to release a couple of new slots, which will be inspired by popular TV shows Narcos and Vikings.

NetEnt sees a huge business potential in the United States, so the company’s main focus in future will be to further expand and strengthen its position in this market. A new live casino will be completed and will feature some of the biggest studios in this industry branch.

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