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Consistent Q1 Growth for Provider

Net Entertainment is just one more of the many online casinos gambling group reported a highly successful first quarter to start out the 2008 financial year. It seems that few internet gambling companies showed a loss or a decrease in growth, which is very positive and bodes well for the stability and health of the current internet gambling industry. NetEnt’s Q1 report results showed that nearly every area of the company improved from the same period of time the previous year.

The company is based out of Sweden and licenses online casinos software and games to internet gambling companies throughout the European market. Additionally, NetEnt launched a gaming platform earlier this year that has really begun to take hold over the past several months with a handful of new product licensees only growing the online casinos gambling product’s credibility and desirability.

In terms of actually figures from the report and growth, the first quarter showed increase in the net sales… up 27 percent from the same time last year. The online casino software development company’s operating profit also showed a marked increase in just a year, growing 35.1 percent to reach SEK 16.9 million. Lastly, the after-tax profit and the net profit margin both showed more than 34 percent increases of Q1 of 2007.

And as for where all of this positive growth at the company will take NetEnt in the rest of 2008 in the online casinos gambling industry, the CEO at NetEnt, Johan Öhman , commented,"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. 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." Industry analysts predict that the online gambling industry will continue to grow in the coming years and will certainly support the growth of the internet gambling companies.