NetEnt Profits Rise 119.6% in Third Quarter

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.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.

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