NetEnt’s Expansion Plans Paying Off

Elouise Spencer - 29 October 2018

NetEnt recovers and focuses on business expansionIf anything is evident, it’s that NetEnt’s new Chief Executive Officer, Therese Hillman, was the right choice for the position. Hillman was promoted to the chair of CEO in March of this year, after former CEO Per Eriksson was given the boot. Since Hillman’s appointment, the online casino and gaming company has been full-speed on a new partnerships course, and it certainly appears to be paying off in a big way.

The company recently released its figures for Q3 and has hailed its entry into numerous new markets as one of the main reasons behind its immense success. The Stockholm-listed entity recently made public its figures for the three months leading up to September, with revenue having increased by 11% when compared with the same period for 2017.

Recovering From Market Exits

During the course of the third quarter, the company launched new online casino games with the British Columbia Lottery Association (Canada) as well as with Norway’s Norsk Tipping. In addition to this, they also joined forces with their very first licensed operator in Lithuania, as well as having made entry into the US market via a content agreement with the iconic New Jersey-based Hard Rock Atlantic City’s online casino.

The company’s success is a world removed from the hard times experienced in 2017, when they were forced to exit a number of important world markets, including Australia, Poland, and the Czech Republic. The cause of action was mostly as a result of various countries having formulated and enforced new and unforgiving online regulations.

Full-Steam Ahead Into 2019

All in all, NetEnt signed a total of nine new deals during the third quarter alone, and judging by the overall pace driven by Hillman, Q4 already shows no signs of slowing down. In fact, the final quarter of the year has already borne witness to deals with major operators like Sweden’s Svenska Spel, ensuring NetEnt’s presence in Sweden’s upcoming re-regulated market, as well as Finland’s Veikkaus, also a state-owned operator.

In addition to this, the company is making sure of its presence in a very promising US market, having recently closed a second US deal, this time with New Jersey’s Churchill Downs Inc. What’s more, the word has already been released of a third US deal, this time round in Pennsylvania, with local casino operator Penn National Gaming.

Sources:

https://calvinayre.com