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Net Entertainment Ends 2009 on a High
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Net Entertainment, the Swedish software company that serves a growing global market, announced that its full year, post tax earnings were up more than 35% at the end of 2009. Effectively, this means that the group earned SEK 107.7 million, up from SEK 80 million in the previous year.
Speaking to EGR Magazine, the Chief Executive Officer of Net Ent, Johan Öhman said: “We saw strong growth at the end of 2009 with a revenue growth of 12% during the fourth quarter compared to quarter three. The increase was the result of organic growth by existing licensees. The number of game transactions increased by 23% during the same period. Combined, this result shows that there is a strong market development and demand for our products. This positive trend has continued in January.”
Ohman was also very optimistic about the future and said that CasinoModule would be reaching further markets thanks to the group’s deal with Sportingbet.
“The implementation of Seamless Wallet is ongoing with our major licensees,” he added. “This functionality enables operators to place Net Entertainment’s games in other parts of the web portal than the casino and thereby offer games to a larger share of their players, creating a foundation for increased gaming revenues from new player segments.”
Net Entertainment’s shares rose more than 100% since they were introduced last year, causing the Stockholm stock exchange to move the group to a mid cap market.
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