Net Entertainment hereby submits its Interim Report for the period
January – March 2009
• Revenues for the first quarter increased by 60.7 % to SEK 68.7 (42.8) million
• Operating profit increased by 74.6 % to SEK 29.6 (16.9) million
• Operating margin was 43.0 % (39.6)
• Profit after tax increased by 106.9 % to SEK 31.9 (15.4) million
• Earnings per share amounted to SEK 0.81 (0.39)
• Three new license agreements were signed for CasinoModule™
• Two breakthrough agreements were signed for CasinoCafé™ in January.
Comments from Johan Öhman, President and CEO
”2009 is off to a strong start for Net Entertainment with continued sales
growth and several new license agreements. The market for online gaming shows
positive development where organic growth was the prime driver for the company
during the period. We move into the second quarter with an order book
comprising 14 casinos that still are to be commissioned of which
three are so called Tier 1 operators. It is my view that the company has good
opportunities for continued success as a result of our specialization within
the segment of the online market with the highest growth and strongest
The IT project initiated at the end of 2008 aimed at increasing our
development, delivery and operational capacity has progressed according to
plan and affected the cost base during the first quarter. The project continues
during the second quarter and creates a foundation for the continued growth and
expansion for the company.
CasinoCafé™ was recently launched in a handful of shops in Cyprus and the
system was well received by the players. A continued roll-out is scheduled
during the forthcoming months after which the real potential of the product can
be established. Certain development work is still being carried out in order to
meet the requirements placed on the product from new customers, this work is
expected to be completed at the middle of the second quarter.
During the second quarter a new functionality will be introduced in
CasinoModule™ which enables an increase of the addressable player base. It is
our view that this function will have a positive effect on the company
In order to capture the opportunities at hand and in order to develop the
growing organization, changes were made to the company management team. The
result of these changes has been positive and creates even better possibilities
for the company in the future.”
About Net Entertainment
Net Entertainment develops digitally distributed systems for Internet gaming.
The core product, CasinoModule™, is a complete gaming platform that comprises a
high number of browser based games as well as a powerful administration tool.
Customers are offered a system solution that is adapted to each customer and is
easily integrated with their existing websites. Net Entertainment licenses the
CasinoModule™ on a royalty basis based on the revenues the product generates.
Net Entertainment is listed on the NASDAQ OMX Stockholm (NET-B). More
information about Net Entertainment is available on www.netent.com.
For more information please contact;
Johan Öhman, CEO Net Entertainment; Phone +46 8 55 69 67 05
Bertil Jungmar, CFO Net Entertainment; Phone +46 8 50 59 67 96