Posted in Industry November 26, 2018
Strong Financial Reports for Q3 From Betting Giants
The online betting industry is poised to finish the fiscal year with a positive outcome, buoyed by an impressive showing from major gambling firms in Q3. NetEnt, Betsson, and Evolution Gaming have reportedly exceeded the anticipated industry expectations and generated record earnings this quarter, setting the stage for an even stronger Q4.
NetEnt’s Revenues Up 11% Thanks to Game Launches
NetEnt reported a revenue growth of 11% for Q3, raking in SEK449.3m (€43.2m). The Swedish firm’s interim report for the period ending September 30 showed notable signs of improvement. The revenue growth was attributed to its innovative gaming releases and partnerships, and movements within the company. According to industry insiders, the increase in revenue was in part due to the release of new gaming titles like Swipe & Roll, Mirror Mirror, Berry Burst, and Double Stacks. The company’s increased revenue was also helped thanks to game launches by high-profile clients such as Hard Rock in New Jersey, Norsk Tipping and the British Lottery Corporation. The report also noted the appointment of Lars Johansson as acting CFO for NetEnt.
The report showed that the majority of NetEnt’s revenue came from its portfolio of games, with slots contributing 91.6% to the total, while table games added 8%. In terms of platforms, mobile was its most lucrative, accounting for 61% of the total revenue, a 9.1% improvement from the same quarter in the previous year.
Evolution Gaming’s Revenues Up 41%
Evolution Gaming, the Stockholm-based supplier of live dealer games, reported an impressive 41% increase in revenue in Q3, raking in €64.3m. According to company reports, the EBITDA increased by 28%, with a margin of 43.5%, and the profit for the quarter was €21.2m. This profitability has made the company a success for its stakeholders. The increased revenue was thanks to commissions and income from existing customers and clients that launched their own dedicated cables.
With the promising revenues, Evolution Gaming is looking to expand its presence in Malta. If the plan goes ahead, the company will establish another studio to support its growing business.
Betsson Reports 21% Revenue Increase and Looks to Improve Performance
Betsson, the Stockholm-listed gaming company, performed well again in the third quarter. The company reported a revenue of SEK1,426.8m (approx. €137.8m). The report explained that all regions contributed to the growth of the company, with Western Europe and the Nordic region contributing the most to its Q3 revenue. The sportsbook revenue also increased by 23%, with a margin of 7.4%, which is significantly higher than the reported income last year. The casino segment also increased by 22%.
This is the third quarter where the company has shown great promise and backs up the strong start to the year. The second and third quarters of 2018 were particularly successful for the company thanks to the activities surrounding the FIFA World Cup. Based on their recent filings, Betsson expects that it will also record positive revenues in the last quarter of the year.
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