Casino betting firm Net Gaming Europe has posted their 2019 financials, noting that revenues for the year dropped 23.1% from the year prior.
Key financial indicators for the year ending December 31st, 2019 were:
Net Gaming CEO Marcus Teilman said, "2019 has been incredibly challenging and characterised by regulatory effects in the European market. The major change in the business model to an increased proportion of revenue share has had a negative impact on our revenue in 2019.
"The main purpose of changing the business model is to build a more stable revenue base with a larger share of recurring revenue. We estimate that the increased proportion of revenue share reduced our revenue by €1.1m to €1.5m, which contributed to 25-35% of the revenue decline in 2019."
"During the year, we underwent an important change through the launch of our new technical platform and our establishment of a competent and more forward-looking organisation. In 2020, I look forward to being able to take advantage of all the interesting growth opportunities we have identified."