NetEnt enjoys record 2016 as UK becomes top market for first time

Online casino technology supplier NetEnt saw revenue and earnings rise more than one-quarter in 2016 and the company plans to spend big to ensure growth continues in 2017.

Figures released Thursday show the Stockholm-listed NetEnt’s revenue rising 24% to SEK 400m (US $45.1m) in the three months ending December 31, while operating profit rose 28% to SEK 156m and after-tax profits jumped nearly 30% to SEK 150m.

For 2016 as a whole, revenue rose 28.5% to a record SEK 1.45b, operating profit was up one-third to SEK 536m and profits jumped 35% to SEK 504m.

NetEnt inked a total of 45 new customer agreements in 2016 (another record), of which 34 new customers’ casinos launched during the year. But NetEnt still has 31 signed customers whose NetEnt products have yet to launch, positioning the company for future growth in 2017.