NetEnt Posts Mixed Financials for 2019

This story was published more than 3 years ago.

Online casino game developer NetEnt has posted their 2019 financial results, sharing that revenues were up slightly but that profits were down for the year.

Key financial indicators for the year ending December 31st, 2019 were:

  • Revenues up to SEK 1.79 billion
  • Royalty revenues of SEK 1.71 billion, down 1% from last year
  • Setup fees of SEK 56.2 million, up 10.2%
  • Other revenues up to SEK 26.2 million
  • Red Tiger revenues of SEK 126 million
  • Operating expenses up 7.1% to SEK 1.26 billion
  • Personnel expenses down 8.4% to SEK 491.1 million
  • Operating profits of SEK 528.7 million, down 12%

NetEnt purchased designer Red Tiger last year, and the company cites their success in helping build momentum going into 2020. Commenting on the results NetEnt CEO Therese Hillman said, "Backed by our ongoing focus on efficiency and the acquisition of Red Tiger, we are entering the new year in a stronger position. Our global distribution and two strong brands give us the right basis to increase our market shares in online casino. We see good conditions for NetEnt to deliver growth in 2020, supported by our combined game portfolio and Live Casino."

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.