Net Gaming Europe Revenue Drops 23.1% in 2019

This story was published more than 3 years ago.

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:

  • Revenues of €14.3 million, down 23.1% from the year prior
  • Personnel expenses up 15.6% to €3.7 million
  • Other external costs down 6.5% to €2.9 million
  • Depreciation and amortization up 112% to €727,000
  • EBITDA down 32.8% € 8.4 million
  • Pre-tax profit down 36.9% to €5.3 million
  • Post-tax profits down 37.2% to €4.9 million

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."

About the author

Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.