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NetEnt: Interim report January – June 2018

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Today, July 13, 2018, at 9.00 a.m. the interim report will be presented by CEO Therese Hillman live via a combined telephone conference and webcast. The presentation can be followed in real-time on NetEnt’s website, the link to the webcast is: https://tv.streamfabriken.com/netent-q2-2018

The dial-in number for the telephone conference is:

Sweden: +46 8 506 39549

UK: +44 20 30089802

Quote from Therese Hillman, Group CEO:

”During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. I look forward to a busy autumn, focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus.”

Second quarter 2018:

  • Revenues for the second quarter amounted to SEK 437 (413) million
  • EBITDA amounted to SEK 202 (187) million, a margin of 46.3 (45.2)%
  • Operating profit (EBIT) amounted to SEK 149 (147) million, a margin of 34.0
  • (35.6)%
  • Profit after tax of SEK 139 (136) million
  • Earnings per share of SEK 0.58 (0.57) before and after dilution
  • 8 (6) new customer agreements signed, and 7 (8) new customers’ casinos
  • launched

First half-year 2018:

  • Revenues for the first half-year amounted to SEK 867 (806) million
  • EBITDA amounted to SEK 384 (350) million, a margin of 44.3 (43.5)%
  • Operating profit (EBIT) amounted to SEK 283 (274) million, a margin of 32.6 (34.0)%
  • Profit after tax of SEK 285 (251) million
  • Earnings per share of SEK 1.19 (1.04) before and after dilution
  • 14 (21) new customer agreements signed, and 15 (14) new customers’ casinos launched

Important events in the second quarter:

  • The AGM elected Fredrik Erbing as new Chairman of the Board of Directors
  • The Board appointed Therese Hillman as new CEO
  • Five new slot games released, including Archangels Salvation, Lost Relics and Jumanji
  • Beta-launched slot games for Social Casino
  • Signed customer agreement with Hard Rock in New Jersey

Comments by Therese Hillman, Group CEO:

Revenues for NetEnt increased by 5.9 percent (-0.8 percent in euro) to SEK 437 million in the second quarter of 2018. The operating profit (EBIT) increased by 1.2 percent to SEK 149 million, representing a margin of 34.0 (35.6) percent. Cash flow after investments increased by 35.8 percent to SEK 178 (131) million in the quarter.

We continue to see that our core markets in the Nordics and the UK are maturing, and competition has increased. During the quarter, we came up with a plan and started taking action in several areas to strengthen our customer offering, cut lead times, and free up resources for new commercial projects. These changes are necessary for us to reassert our strong market position in online casino. At the same time, we continue to review our cost structure to improve scalability across the business, and we have started to see a lower pace of cost growth. We continue to target higher revenue growth than cost growth.

At the beginning of June, the Swedish parliament approved the new gambling law, and our preparations ahead of the Swedish market re-regulation has intensified since then. We aim to have a broad selection of our games certified when the new licensing system starts on January 1, 2019 and work closely with our customers on all fronts to ensure a successful market entry right from the start.

We released five new slot games in the quarter: Archangels Salvation, Lost Relics, Jumanji, Witchcraft Academy and Bollywood Story. The latter two titles had previously been customer-exclusive and were released to the rest of our customers in June. The innovative game Jumanji combines slots and board game features and has been well received by players. So far, three weeks since its launch, it is our best game release this year.

I also follow the development of our upcoming new games with great interest. Among other things, we will present a new game concept with the launch of BerryBurst in August, which is based on player feedback and insights. A new initiative is the beta-launch of our games in the form of Social Casino games on Facebook, which in the longer-term perspective could add new revenues and strengthen our game brands with players on many different markets. Through this initiative, we capitalize on our existing digital assets.

With regards to Live Casino, the new product called Live Beyond Live was launched on desktop for Mr Green at the end of May, and since that we have noticed a steady increase in number of players, bets and gamewin. Just in time for the FIFA World Cup, we introduced a new type of functionality for Live Casino, called Sports Betting Widget, which allows players to place bets on sports without leaving the roulette table. As a first step, the feature has been rolled out to a handful of customers. We see good demand for our bespoke, virtual multi-table solutions – Live Beyond Live being the first such product – and expect to launch new customer-exclusive tables for several customers this year.

Regionally, we saw similar developments as in the first quarter. Growth in locally regulated markets continued at a high pace, especially in Southern and Eastern Europe, while overall revenue growth was negatively impacted by a weaker development in the Nordics and in the UK. The share of revenues from locally regulated markets was 36 (32) percent in the quarter. In the US, we now see some positive signs after the Supreme Court decision in May that paves the way for sports betting to be legalized in New Jersey and other US states. Thanks to our presence in New Jersey, we are in a good position to enter other US states if and when they open for online casino.

Mobile games continued to contribute to our growth and accounted for 58 (56) percent of total gamewin in the quarter. Our ambition is to offer the best mobile games for the online casino market, and therefore we were really pleased to win the award in the category called Innovation in Mobile at the EGR B2B Awards in June.

I look forward to a busy autumn focused on the turnaround of NetEnt, with improved efficiency and many new products and growth initiatives that all have players and customers in focus. Presentation of interim report.”

 

For additional information please contact:

Therese Hillman

Group CEO

Phone: +46 8 5785 4500

therese.hillman@netent.com

This information is information that NetEnt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 7:30 CET on July 13, 2018.

 

About NetEnt

NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on Nasdaq Stockholm (NET–B) and employs more than 1,000 people in Malta, Stockholm, Gothenburg, Gibraltar, Kiev, Krakow and New Jersey. For more information, please visit

www.netent.com.


Source: Gambling Industry Press Releases

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Camel Rock Casino Chooses VizExplorer

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Camel Rock Casino Chooses VizExplorerReading Time: 2 minutes

VizExplorer, a leading provider of operational intelligence solutions for casinos, announced the execution of a new license agreement to deploy its floorViz™ and campaignViz™ solutions at Camel Rock Casino, operated by the Pueblo of Tesuque.

The New Mexico-based casino exists in a highly competitive market with several other gaming properties nearby. To mitigate the competition, the Tesuque Pueblo tribe announced last year its plans to build a replacement casino on tribal land near the Santa Fe Opera.

Seeking to secure its player base and optimize revenues at the new casino, Camel Rock selected VizExplorer to uncover insights it needs to make informed, profitable business decisions going forward. Using VizExplorer’s floorViz, the team will determine which games to keep, which new games to invest in, and where to place them on the new gaming floor. The marketing team will employ campaignViz to evaluate and properly incentivize players during the transition to the new casino, and determine an effective player reinvestment strategy.

“We are eager to get up and running with VizExplorer and trust that the information and insights their solutions offer will help us improve our slot floor, increase visits and encourage more play among our guests,” says Michael Beach, Camel Rock Casino’s Director of Marketing.

“We’re thrilled that Camel Rock chose VizExplorer solutions. The choice signals a commitment to using technology to derive valuable insights to improve operational efficiency, which is key to winning in a competitive casino landscape,” said Kyle Gryzanoski, VizExplorer’s VP of Sales – Western Region.

Camel Rock Casino joins more than 50 other tribal casinos currently using the VizExplorer platform. The agreement was handled by VizExplorer reseller Game Changing Technologies, a provider of licensing and consulting services to companies doing business in the casino industry.

 

About VizExplorer:

VizExplorer offers operational intelligence (OI) solutions to the gaming industry. The next generation in data-driven decision making, OI lets businesses analyze live, fast-changing data and take immediate action using a single toolset. VizExplorer’s tools help enterprises address smart space and profit optimization, marketing campaign management, CRM and customer service, and service and dispatch management. VizExplorer is led by a team of distinguished OI experts, seasoned industry veterans and world class software developers devoted to building the very best products backed by extraordinary support. VizExplorer is headquartered in San Diego, with offices in Las Vegas and Wellington, New Zealand.


Source: Gambling Industry Press Releases

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Wazdan pushes the boat out at iGB Live!

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Wazdan pushes the boat out at iGB Live!Reading Time: 3 minutes

Friday, July 20; 2018, Malta – Game-producer Wazdan hosted partners and the media to a boat party on Amsterdam’s canals to celebrate what has been a meteoric rise in the gaming world in less than a year as well as to mark two major game launches during iGB Live! The company had plenty to celebrate, this week alone Wazdan launched both Fruits Go Bananas™ as well as the much anticipated Spectrum.

In what has been a great year so far, Wazdan opened a new European office in Malta with a big party last month, won Hot Product Award at G2E Asia, as well as Start-Up of the Year Award at MIGEA Excellence Awards, was nominated for the EGR awards, have released a slew of new games and signed with some of the biggest names in the industry including EveryMatrix, Videoslots, SlotMillions, Tipbet, Iforium, iSoftbet, Evenbets, Groove Gaming, Globalplay and Rabbit Entertainment, amongst others.

The hosts welcomed their guests with a delicious dinner party on board the vessel as it cruised Amsterdam’s main canals. As a special treat, wooden boxes of exquisite hand-made chocolates were distributed to guests themed for Fruits Go Bananas™.

Apart from Fruits Go Bananas™ and Spectrum, Wazdan has launched a myriad of games this year, Book of Magic Deluxe, Magic Fruits 4 Deluxe, Dracula’s Castle, Magic of the Ring Deluxe, Magic Stars 3, Great Book of Magic Deluxe, 9 Lions, Double Tigers, Sizzling 777 Deluxe, Hot Party Deluxe, Corrida Romance Deluxe, Fruit Mania Deluxe, Football Mania Deluxe and Highway to Hell Deluxe.

Head of Sales at Wazdan Andrzej Hyla said: “Innovation is in our DNA at Wazdan and we are having great fun participating in this year’s iGB Live! showcasing our technology platform and our innovative Unique Wazdan Features. By showcasing what our technologists and games developers are capable of, we help to educate the industry on the depth of our talent pool and their capabilities. Wazdan has a technology advantage, and that has always been reflected in the games we produce. We’re delighted so many partners and friends could join us for this very special occasion on Amsterdam’s canals aboard this beautiful boat.”

Wazdan’s world-class studios are experienced in developing games and technologies for desktop, tablets and mobile, with a particular emphasis on mobile. The Unique Wazdan Features, that include the world’s first Volatility Levels™, Energy Saving Mode, Double Screen Mode and Unique Gamble Feature, are a central element to deliver Wazdan’s HTML5 slots for mobile, tablet and desktop and have been showcased throughout iGB Live!.

For further information visit www.wazdan.com

 

 

ABOUT WAZDAN:
Wazdan is a popular game producer, developing innovative casino games that deliver original, fun and truly omni-channel player experience. Offering an extensive game library of over 100 HTML5 slots, table games and video pokers, Wazdan is gaining popularity on the iGaming market thanks to the great quality of their games, interesting themes and engaging gameplay. Wazdan’s game portfolio consists of such popular titles as Great Book of Magic Deluxe, Magic Target Deluxe, Valhalla and Wild Guns and soon will extended with new amazing slot games, including Los MuertosTM, Mayan RitualTM and Captain FlyntTM, among others. Wazdan releases new, exciting titles on a regular basis and equips them with Unique Wazdan Features: innovative Volatility LevelTM, exciting Unique Gamble Feature and mobile-friendly Energy Saving and Double Screen Modes. Wazdan holds a number of  European trademarks including for their world’s-first Volatility Level TM. Their extensive portfolio of clients includes some of the top gaming operations in the industry. The company is headquartered in Malta and holds licenses issued by the UKGC, the MGA and complies with Curacao regulations. Furthermore, their games use the RNG certified by the NMi, which ensures reliable, fair and secure gameplay. Wazdan’s Sales Team is showcasing their products at iGB Live! in Amsterdam from July 17th to the 20th.


Source: Gambling Industry Press Releases

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BetConstruct to open its platform to competing sport betting solutions

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BetConstruct to open its platform to competing sport betting solutionsReading Time: 1 minute

BetConstruct announces that their platform is now open to third party sportsbook solutions.

 

BetConstruct is known for being flexible, not greedy and partner-oriented. Although the company develops most of the products in-house, they also offer partners the alternatives developed by competitors.

“In short, we don’t play God to our partners and let them decide what’s best for them,” says Vigen Badalyan, BetConstruct Founder and CEO. “However, there are some restrictions. Where success of the vertical depends on liquidity, we limit the offer to our own product. Exception until today was the sportsbook. Today we are opening our platform to all sportsbooks. Just as we offer slots from Microgaming, NetEnt, Red Tiger Gaming and others along with our own content, we decided to offer sports betting products from our colleagues to our partners,” stated Mr. Badalyan.

This unprecedented move provides operators with the choices they didn’t have until now. Staying true to its philosophy of cooperation within the industry, BetConstruct believes that they’ll benefit from diversifying their sports betting offering as they benefited from diversification of their offer in all verticals.

BetConstruct is an award-winning developer and provider of online and land-based gaming solutions with development, sales and service centers in 16 countries.
BetConstruct’s innovative and proven offerings include an extensive range of products and services, including Sportsbook, Sports Data Solutions, Retail Solutions, RNG & Live Dealer Casino, VR Casino, Poker, Skill Games, Fantasy Sports, Social Platform and more. The latest addition is the industry-first complete management infrastructure, SpringBME (Business Management Environment).
All partners benefit from the BetConstruct Spring platform with its powerful back office tools and all-inclusive services that empower operators’ growth and help contain their costs. From stand-alone set up to turn-key and white label solutions, BetConstruct offers its partners unfettered opportunity to succeed.


Source: Gambling Industry Press Releases

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