NetEnt chasing quarter of UK market
Chief executive Per Eriksson outlines ambition to replicate overall European market share following Paddy Power and Boylesports launches.
Net Entertainment chief executive Per Eriksson hopes to lead the Swedish-listed software provider to a UK casino market share of 27%, describing the region as one where “We have big growth potential.”
The 27% figure would bring the UK in line with NetEnt’s share of the overall European casino market, as outlined in today’s fourth-quarter results presentation “ itself a significant increase from 22% in Q4 2011.
Eriksson was outlining the bold ambitions following the publication of NetEnt’s earnings report for the three months ended 31 December where, in addition to the increased market share in its core European market, the company saw record revenues of SEK144.7M (£14.8m) for the quarter.
Profit after tax was down 15% to SEK31.1m, however the end of the quarter saw the launch of slots in Italy, which Eriksson said “immediately brought a good revenue increase” as well as two UK partners, Paddy Power and Boylesports, going live.
A further eight partners, including SkyBet, are poised to go live this year, while this year NetEnt has signed up another major UK-facing operator in 888 and made its first move into real-money social gaming after partner Bonza Gaming became the third egaming company to launch RMG on Facebook.
While the Bonza launch is currently UK-only, Eriksson said “There will be additional geographies going forward.” The app features various NetEnt slots including Starburst, which the chief executive has described as “One of our most successful games on mobile.”
Of the launch, the CEO noted: “The demography (sic) on Facebook is very different to operators’ casinos so there is big potential there, but it is still new territory and therefore hard to predict how many of these players will play for real money as Facebook is still known for social.”
Among the areas in which NetEnt is looking to expand is live casino, with Unibet and Comeon beta-launching with the offering and more agreements in the pipeline and the existing offering set to be augmented with the launch of live-dealer blackjack in the middle of this year.
Speaking to eGR at the ICE exhibition earlier this month Eriksson said of the company’s new live casino product: “We know we are the second mover in this space but from that point of view we can see what mistakes others have made and are making. We have superior technology and a superior product including HD streaming that none of our competitors have. We have exclusive branding solutions and the use of blue screen technology which differentiates the product, while there is also plenty more scope to do lots of different things that we will soon announce.”