NetEnt Release Interim Report for January 2020 – March 2020
Swedish casino software developers NetEnt have this morning released their interim report for 2020, which covers the period January 1st 2020 – March 31st 2020. Key points which are covered in the report, include earnings after tax amounted to 82 (120) SEKm, or nearly €5m.
Other areas covered include the integration of Red Tiger into the group, having had acquired the casino games developer back in 2019. Commenting on the interim report, NetEnt’s Chief Executive Officer, Therese Hillman said: “To further strengthen competitiveness and increase efficiency, we initiated a full integration with Red Tiger during the quarter. Red Tiger keeps performing above our expectations with its award-winning games and the expansion to new markets continues.”
“Combined with a strong product pipeline, new regulated market entries and the Live Casino opportunity for NetEnt, this puts us in a good position to continue delivering profitable growth in 2020.”
Hillman also elaborated on how the company is dealing with the ongoing Coronavirus pandemic, commenting: “The pandemic outbreak of covid-19 has put the world in an exceptional situation, leaving nobody unaffected.”
“The health and safety of our employees has the highest priority in the NetEnt Group, while we continue to work hard to secure a good development for the Company both in the shorter and longer term.”
“It is difficult to predict the effects of the covid 19-situation on the economy in general and our sector in particular, but we believe that the underlying trend of digitalisation in gaming will continue and offer growth opportunities for NetEnt in the future. So far, the financial performance of our business has not been negatively affected by the outbreak of covid-19.”