The History of Net Entertainment
Net Entertainment is a world-renowned casino software provider based in Sweden. The company is well-known for its growing number of NetEnt-powered online casinos and also its mobile casino game platform, Touch. Net Entertainment was established in the year 1996, just as online gambling games were emerging on the web, but the company’s history travels back much further.
The Scandinavian land-based casino game provider Cherry is NetEnt’s parent company, which provided land-based casino and slot games to much of Eastern Europe in the 1970’s and 1980’s. Due to changing laws surrounding land-based casino games, Cherry were forced in the early 1990’s to rethink their strategy surrounding casino games, and turned instead to the emerging online market, reshaping their brand as the now unfailingly popular Net Entertainment.
Net Entertainment Beats Profit Records
Since Net Entertainment was established in 1996, the company’s annual takings have increased steadily each year. Net Entertainment beats profit records on a regular basis, and are consistent in signing new licensing agreements with online casinos and launching new NetEnt-powered casinos on a regular basis. In 2013, Net Entertainment produced positive financial results, revealing a strong 4th quarter with new profit records for the company. Net Entertainment credited this mainly to a number of new investments made during 2013, which lead to takings of $97.9 million for the casino software developer.
NetEnt’s Success in 2013
The company signed 27 new licensing agreements with other online casinos during the year, allowing these operators to offer Net Entertainment online games to their players, and NetEnt was also the software provider behind 20 new online casino launches during that year. CEO Per Eriksson credited Net Entertainment’s mobile casino game platform Touch as a large part of the company’s success in 2013.
Net Entertainment Profits in 2014
Revenues for Net Entertainment beats profit records again in 2014, with a total operating profit increase for the full year of around 35% for the company compared to the previous year. In 2014, Net Entertainment signed 10 new licensing agreements with online casino operators and launched a total of 6 new Net Entertainment-powered casinos as well. Additionally, in 2014 Net Entertainment developed the first HTML5 casino game that was designed for compatibility with both desktop and mobile casino platforms and devices.
Net Entertainment’s 2015 Revenues and Projects
Net Entertainment beats profit records again in 2015, showing a strong 1st quarter with a 60.9% profit after tax increase. The company’s revenue during the first 3 months of 2015 rose 37.1% compared to the previous year. A number of HTML5 desktop and mobile casino games were also released during the 2nd quarter, accounting for a steady increase in profit margins so far in 2015. The 2nd quarter also brought 11 new licensing agreements for Net Entertainment, and the casino software provider also launched 7 new NetEnt casinos during that period.
Currently, Net Entertainment is in the process of procuring a Spanish online casino operating license, and the casino provider has also set its sights on an operating license within New Jersey’s regulated online gambling market, which will allow Net Entertainment to continue beating profit records in the following years.