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NetEnt: Interim report January – June 2018

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Today, July 13, 2018, at 9.00 a.m. the interim report will be presented by CEO Therese Hillman live via a combined telephone conference and webcast. The presentation can be followed in real-time on NetEnt’s website, the link to the webcast is: https://tv.streamfabriken.com/netent-q2-2018

The dial-in number for the telephone conference is:

Sweden: +46 8 506 39549

UK: +44 20 30089802

Quote from Therese Hillman, Group CEO:

”During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. I look forward to a busy autumn, focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus.”

Second quarter 2018:

  • Revenues for the second quarter amounted to SEK 437 (413) million
  • EBITDA amounted to SEK 202 (187) million, a margin of 46.3 (45.2)%
  • Operating profit (EBIT) amounted to SEK 149 (147) million, a margin of 34.0
  • (35.6)%
  • Profit after tax of SEK 139 (136) million
  • Earnings per share of SEK 0.58 (0.57) before and after dilution
  • 8 (6) new customer agreements signed, and 7 (8) new customers’ casinos
  • launched

First half-year 2018:

  • Revenues for the first half-year amounted to SEK 867 (806) million
  • EBITDA amounted to SEK 384 (350) million, a margin of 44.3 (43.5)%
  • Operating profit (EBIT) amounted to SEK 283 (274) million, a margin of 32.6 (34.0)%
  • Profit after tax of SEK 285 (251) million
  • Earnings per share of SEK 1.19 (1.04) before and after dilution
  • 14 (21) new customer agreements signed, and 15 (14) new customers’ casinos launched

Important events in the second quarter:

  • The AGM elected Fredrik Erbing as new Chairman of the Board of Directors
  • The Board appointed Therese Hillman as new CEO
  • Five new slot games released, including Archangels Salvation, Lost Relics and Jumanji
  • Beta-launched slot games for Social Casino
  • Signed customer agreement with Hard Rock in New Jersey

Comments by Therese Hillman, Group CEO:

Revenues for NetEnt increased by 5.9 percent (-0.8 percent in euro) to SEK 437 million in the second quarter of 2018. The operating profit (EBIT) increased by 1.2 percent to SEK 149 million, representing a margin of 34.0 (35.6) percent. Cash flow after investments increased by 35.8 percent to SEK 178 (131) million in the quarter.

We continue to see that our core markets in the Nordics and the UK are maturing, and competition has increased. During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. At the same time, we continue to review our cost structure to improve scalability across the business, and we have started to see a lower pace of cost growth. We continue to target higher revenue growth than cost growth.

At the beginning of June, the Swedish parliament approved the new gambling law, and our preparations ahead of the Swedish market re-regulation has intensified since then. We aim to have a broad selection of our games certified when the new licensing system starts on January 1, 2019 and work closely with our customers on all fronts to ensure a successful market entry right from the start.

We released five new slot games in the quarter: Archangels Salvation, Lost Relics, Jumanji, Witchcraft Academy and Bollywood Story. The latter two titles had previously been customer-exclusive and were released to the rest of our customers in June. The innovative game Jumanji combines slots and board game features and has been well received by players. So far, three weeks since its launch, it is our best game release this year.

I also follow the development of our upcoming new games with great interest. Among other things, we will present a new game concept with the launch of BerryBurst in August, which is based on player feedback and insights. A new initiative is the beta-launch of our games in the form of Social Casino games on Facebook, which in the longer-term perspective could add new revenues and strengthen our game brands with players on many different markets. Through this initiative, we capitalize on our existing digital assets.

With regards to Live Casino, the new product called Live Beyond Live was launched on desktop for Mr Green at the end of May, and since that we have noticed a steady increase in number of players, bets and gamewin. Just in time for the FIFA World Cup, we introduced a new type of functionality for Live Casino, called Sports Betting Widget, which allows players to place bets on sports without leaving the roulette table. As a first step, the feature has been rolled out to a handful of customers. We see good demand for our bespoke, virtual multi-table solutions – Live Beyond Live being the first such product – and expect to launch new customer-exclusive tables for several customers this year.

Regionally, we saw similar developments as in the first quarter. Growth in locally regulated markets continued at a high pace, especially in Southern and Eastern Europe, while overall revenue growth was negatively impacted by a weaker development in the Nordics and in the UK. The share of revenues from locally regulated markets was 36 (32) percent in the quarter. In the US, we now see some positive signs after the Supreme Court decision in May that paves the way for sports betting to be legalized in New Jersey and other US states. Thanks to our presence in New Jersey, we are in a good position to enter other US states if and when they open for online casino.

Mobile games continued to contribute to our growth and accounted for 58 (56) percent of total gamewin in the quarter. Our ambition is to offer the best mobile games for the online casino market, and therefore we were really pleased to win the award in the category called Innovation in Mobile at the EGR B2B Awards in June.

I look forward to a busy autumn focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus. Presentation of interim report.”

 

For additional information please contact:

Therese Hillman

Group CEO

Phone: +46 8 5785 4500

therese.hillman@netent.com

This information is information that NetEnt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:30 CET on July 13, 2018.

 

About NetEnt

NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on Nasdaq Stockholm (NET–B) and employs more than 1,000 people in Malta, Stockholm, Gothenburg, Gibraltar, Kiev, Krakow and New Jersey. For more information, please visit

www.netent.com.


Source: Press Releases Published on European Gaming Media Network

Press Releases

European Lotteries Association joins Betting on Sports Week in September

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The European Lotteries Association will host a meeting for members of its Sport Working Group at next month’s Betting on Sports Week in London (18-21 September), while several of its headline members have been lined up to speak at the event.

European Lotteries is the umbrella organisation of national lotteries operating games of chance for the public benefit, which brings together both state-owned and private operators, both profit and non-profit, who operate on behalf of the state.

Each of the Sport Working Group’s 18 members will be invited to attend the meeting on Wednesday morning 19 September, to discuss topics including sports integrity and sports policy, as well as the planning and content for upcoming European Lotteries events.

This team of 18 includes confirmed #boscon2018 speakers – Jari Vähänen, SVP of Veikkaus, Ludovico Calvi, Board Director of Lottomatica Betting, and Jens Nielsen, Head of Sports Betting at Danske Spil, as well as representatives of Norsk Tipping, SAZKA, Global Lottery Monitoring System, LOTTO Bayern, Szerencsejáték Zrt., Française des Jeux, Österreichische Lotterien, Staatliche Toto-Lotto, Svenska Spel, OPAP, Sisal, Loterie Nationale Belgium and Hrvatska Lutrija.

Vähänen will be helping to provide a snapshot of horseracing around the world, as part of the Betting on Racing track on Thursday 20 September, while Nielsen will be assessing the betting shop of the future on the Betting on Retail track, held on the same day.

Ludovico Calvi of Lottomatica, and also the President of the Global Lottery Monitoring System, will take part in the main integrity panel discussing the future outlook of the US market with PASPA down.

Nielsen commented: “Once again, we are delighted that SBC has embraced the importance of our Sport Working Group by facilitating a meeting at Betting on Sports.

“The rapidly evolving nature of the lottery sector dictates that we need these regular meetups, not just to discuss new points of difference, but also to address the opportunities that changes in consumer behaviour presents.”

Betting on Sports Week will present no fewer than 250 thought leaders, innovators and decision makers from the sports betting, esports, casino, affiliates, media and sports sectors.

 

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Press Releases

Vegas Kings renews Digital Creative Retainer with Resorts Casino and Mohegan Sun

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Vegas Kings renews Digital Creative Retainer with Resorts Casino and Mohegan Sun

August 16, 2018 – New Jersey  – Working closely with one of the leading regulated online casinos in New Jersey, Vegas Kings have been managing all Resorts Digital Gaming’s online and offline creatives for the last two and a half years, and have recently secured a further 12–month retainer contract to continue providing a full tiered service to both ResortsCasino.com and MoheganSunCasino.com.

“We are very excited and proud to continue our close working relationship with the Resorts Digital Gaming team. Both brands are gaining great share within the New Jersey online market and the additional value that VK brings to the table is helping pave the way for both services to be at the forefront of the industry,” says Ashley Adir, CEO of Vegas Kings.

Vegas Kings handles all the daily creative and web development requests ranging from online acquisition banner creatives, social media adverts, HTML mailers, video production promoting new games to full HD TV adverts, billboards and website back-end development.

“We love working with Vegas Kings and were so excited and thrilled to sign another year with them. Without them, being one of the leading operators in New Jersey would not be possible,” says Ed Andrewes, CEO of Resorts Digital Gaming, LLC.

 

For further information, please contact:

Vegas Kings
Ashley Adir, CEO
contact@vegaskings.com

Resorts Digital Gaming LLC
Ed Andrewes, CEO
EAndrewes@resortsac.com

 

About Vegas Kings
Vegas Kings is the most experienced Web Design and Development Agency that exclusively services the iGaming Industry. In operation since 1998, Vegas Kings have successfully serviced hundreds of gaming brands across all verticals including Casino, Sports, Bingo and Poker. Through their years of experience, they have found the formula to design and develop user experiences that truly convert. Www.vegaskings.com 

About Resorts Digital Gaming
Resorts Digital Gaming is the interactive arm of Resorts Casino Hotel Atlantic City, the first casino to open in the state of New Jersey and operates Internet gambling websites www.resortscasino.com and www.mohegansuncasino.com

 


Source: Press Releases Published on European Gaming Media Network

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Press Releases

iLUCKI makes debut on SoftSwiss’ platform

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iLUCKI makes debut on SoftSwiss' platform

Keen to use the technical know-how of SoftSwiss, combined with their profound experience and insightful knowledge of igaming, the team behind the brand is poised to give it their all to entertain players using the best that technology can offer.

A brief glance at the website distinguishes iLUCKI for its breakout layout and game navigation filters with user experience at the very core.

Advanced or simple – the player decides whether they wish to search for their favourite games with simplified filter options to browse through the entire offering or narrow in on that one game they desire most with pinpoint precision.

The smart filter includes search by number of reels and paylines, as well volatility, hit rate and more. It can be easily activated using an elegant switch found on the navigation menu.

Speaking of favourites, players have the freedom to tag their games into a “Favourite” category, so that no time is spent finding their preferred slots. For those wishing to try their luck at something unexplored, iLucki encourages to try its random slot selector.

What is more, the player-oriented brand rolls out a solid library of the top game providers such as NetEnt, Yggdrasil, Microgaming, Play’n GO, NYX and a plethora of other popular game providers. Thanks to the SoftSwiss Game Aggregator, iLucki establishes a vast portfolio of over 40 game brands.

Crypto-lovers will enjoy the ability to play games supporting their coin of choice, whether it is Bitcoin, Bitcoin Cash, Ethereum, Etherium Classic, Litecoin, Dogecoin or Monero.

Support of cryptopayments is brought to iLucki through CoinsPaid, SoftSwiss’ long-term partner in cryptopayments, offering high-end security and speedy transactions.

Anyone looking for the more traditional payment methods, will be satisfied by the abundance of such options for deposits and cashouts as Visa, Mastercard and Maestro, plus Skrill, Neteller, Zimpler, Yandex Money, Qiwi, Sofort, Paysafecard, ecoPayz and more.

The cutting-edge SoftSwiss Bonus Engine allows iLucki to present one of the most diverse and choice-rich promotional systems to date. This comes in the form of several first deposit bonuses, weekend wager free cashback events, high roller bonuses, weekday freespins and a colourful playlist of daily tournaments with local prize pools.

iLUCKI is passionate to become a top rated and player-favourite online casino through quality service, innovative ideas and bespoke promotions.

The complementary affiliates section of the website utilises the in-house affiliate system, developed by SoftSwiss to bring added flexibility to both operators and affiliates alike.

A comprehensive configuration of affiliate commissions, sub-affiliates and billing periods is supplied to the operator, all the while keeping affiliates in the loop on the latest news and exclusive promotional content.

As iLUCKi’s motto goes: “We speak casino. We are casino!” players can have peace of mind and rest assured that their satisfaction is iLucki’s top priority.

SoftSwiss is overwhelmingly happy to introduce iLucki to the growing roster of cutting-edge casino brands utilising its proprietary casino and affiliate platform.


Source: Press Releases Published on European Gaming Media Network

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