2020.05.08

Interim Report for January 2020- March 2020 by NetEnt

NetEnt- Swedish supplier of premium digital games-only last morning released its report for 2020 so far, covering the period between January 1st 2020-March 31st 2020. Key points covered in the report included- earnings after tax that came up to 82 (120) SEKm, nearly €5m.

It also covered other areas, including the integration of Red Tiger with the group. The casino games developer was acquired by NetEnt back in 2019. CEO of NetEnt- Therese Hillman commented on the interim report, saying- “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 market 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 went on to elaborate on how the company had been dealing with the Coronavirus outbreak, saying, "The pandemic outbreak of COVID-19 has put the world in an exceptional situation, leaving nobody unaffected."

"The health and safety of our employees have the highest priority in 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 situations on the economy in general and our sector in particular, but we believe that the underlying trend of digitalization 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."