NetEnt enjoys double-digit rise in H1 revenues
Online casino provider benefits from the addition of new customer agreements including Rank Group, while mobile revenues doubled
NetEnt this week reported revenues for the first half of the year increased 32% year-on-year after signing up more than a dozen new customers, with mobile accounting for  37% of revenues in Q2.
Total revenues for the period reached SEK697.4m (£62m), a double-digit increase from the SEK529.5m (£47.1m) it posted for the same period last year.
Profit after tax increased 46% to SEK 235.2m (£20.9m), while operating profit for H1 amounted to SEK 250.5m (£22.3m), an increase of 44% year-on-year.
Per Eriksson, president and CEO of NetEnt, said he is âoptimisticâ heading into the second half of 2016.
âThe second quarter featured strong demand for our products and strong growth,â said Eriksson.
âI am optimistic going into the second half of 2016 â the conditions look good for continued strong growth,â he added.
On a quarterly basis, revenues during Q2 increased 29.8% to SEK 352.1m (£31.3m).
Operating profit rose 32% to SEK 122.4m (£10.9m) during the period, while operating margin remained largely unmoved at 34.8%.
In Q2, the Stockholm-listed firm signed 12 new customer agreements, while six new customer casinos were launched, including Tropicana Casino in New Jersey.
The firm also expanded its presence in the UK after securing a deal with Rank Group to supply its online casino games across the operatorâs Grosvenor Casino and Mecca Bingo sites.
NetEnt recently launched a beta version of mobile live casino, its first live offering in the channel, with operators including LeoVegas set to launch the offering this summer.
“Mobile gaming continues to be an important growth driver for us,” said Eriksson. “Revenues from mobile doubled compared to the same period last year and accounted for 37% of revenues in the second quarter.”