Swedish betting group NetEnt has revealed their second quarter 2018 financial results, revealing that growth was 5.9% during the period.
The growth was slower than the 9.4% posted during the first quarter. This is being attributed to currency devaluation against the Euro and British pound, as well as well as slower performance in key markets.
Key financial indicators for the period ending June 30th, 2018 were:
- Revenues of SEK437.2 million, up from SEK412.8 million last year
- Profit up 1.2% to SEK149 million
- Margin of 34%
- 10.8 billion gaming transactions during the quarter, up 7% from last year
Other highlights for the company were 14 new licencing agreements, with 15 new casinos supporting the software launched. The company has cashflow of SEK431 million for the first half.
The company is looking to the future, with an eye on the American betting market as legalized sportsbetting begins to take shape. The company has a presence in New Jersey and is looking to other states to begin offering their online services.