Swedish game developer NetEnt has posted their third-quarter 2020 financials, noting that they saw profits rise 119.6% for the period.
Key financial indicators for the quarter ending September 30th, 2020 were:
- Revenues up 17.5% to SEK 520.9 million
- Software licensing revenues of SEK 503.5 million
- Software setup fees of SEK 6.9 million
- Other sources of revenues of SEK 10.5 million
- European revenues generated 42% of the total
- The UK accounted for 19%
- Nordic revenues were 17%
- United States revenues made up 10% of the share, with revenues up 313% from last year
- Rest of the world revenues were 12% of the total revenues
- Live casino revenues up 109% from last year
- Personnel expenses dropped to SEK 99.7 million from SEK 111.5 million last year
- EBITDA was SEK 309.7 million, up 57.8% from 2019
- Taxes paid equated to SEK 16.9 million
- Net profit posted of SEK 167.1 million, up 119.6% from last year
NetEnt is currently considering a purchase agreement from fellow Swedish betting group Evolution, who also posted their third-quarter financials today.