Latest reports show a stunt in growth for NetEnt after big change in the company

Latest reports show a stunt in growth for NetEnt after big change in the company

Published by Thisbe Savva, 2018-07-16

NetEnt has been through quite the transition this year, with the changing of CEO’s and lots of different decisions and alterations to be made, but as always they come out stronger than ever. As most of us know Per Eriksson was replaced with Therese Hillman in taking over the CEO position of the company. NetEnt is one of our favourite casino games provider because of the way they treat their customers, and the fact that we can see just how important player satisfaction is for them, and of course not forgetting how impressive and fun their video slots are to play! When you change up the flow in a company there’s bound to be a few bumps in the road and this is what has happened with NetEnt recently.

The latest revenue and growth in the second quarter has not been what anyone expected, there have been some declines and a few stunts in growth. The recently appointed new NetEnt CEO, Therese hillman spoke out on the matter saying that she is ready to take action after the slowdown in the UK specifically. Last Friday NetEnt reported a 6% rise in their revenue year on year to £39 million (a 0.8% decline in euro terms), but earnings before tax only grew by a small 1.2% and NetEnt’s share price on the Nasdaq Stockholm went down by approximately 17% following the release of their Q2 results. We can imagine that this is quite a stressful time for the NetEnt crew, but we know how on the ball they are and they will be able to get through it!

we need to grow our live casino and have more growth initiatives to kick in

The recent Q2 reports definitely came as a shock to the company, but they want to turn this around for the next reports and hopefully have more inclines rather than declines. Therese Hillman commented about the recent Q2 results “ We are taking action where we are not doing enough at the moment, what we do see is that the slowdown in the UK has made a difference and the UK is a challenging market.” She also went on to say that “I’m confident that the game portfolio will be better in the second half of the year and we also have a good line-up of new customers to launch in Q3 AND Q4, we need to grow our live casino and have more growth initiatives to kick in”.

NetEnt already has a fantastic plan of action where they will be strengthening the customer offering, freeing up resources for new commercial projects, and cutting lead times. There is a lot of competition out there in the gaming industry, but we feel as though NetEnt are, and will always remain one of the absolute best. There are talks of them improving their live casino games, and their mobile casino market, so we will see what the future has to hold. What we can take away from this are pretty much all positives, NetEnt know where they are lacking, and they know what they can do to improve this, and even though as Therese Hillman said the UK market are quite challenging, NetEnt being NetEnt will face it head on.

Featured Casino(s)

New Customers Only - T&C Apply

  • PlayOJO

    PlayOJO

    0x
    Turnover
    £10
    min. deposit
    9.9
    18+ | First time depositors only. Min. deposit £10. Maximum amount of Free Spins is 80. Free Spins valued at £0.10 per spin, in Book of Dead. Excluding new players in Northern Ireland. OJO's Reward and Game Play Policy Applies.
Top casinos

New Customers Only - T&C Apply

  • PlayOJO

    PlayOJO

    0x
    Turnover
    £10
    min. deposit
    9.9
    18+ | First time depositors only. Min. deposit £10. Maximum amount of Free Spins is 80. Free Spins valued at £0.10 per spin, in Book of Dead. Excluding new players in Northern Ireland. OJO's Reward and Game Play Policy Applies.
  • Casumo

    Casumo

    30x
    Turnover
    £10
    min. deposit
    9.8
    18+. New UK customers only. Opt-in required. 30 free spins on Book of Dead game upon registration with NO wagering requirements or deposit required for spins AND 100% deposit bonus up to £300: Min deposit £10 and 30x wagering requirements apply on bonus (game weighting applies). Max bet applies. T’s and c’s apply. Please gamble responsibly, www.begambleaware.org
  • New players only. 18+. 35x wagering applies to Bonus Cash and Free Spins. Deposit of £20+ unlocks a 100% Match Bonus up to £100 in Bonus Cash, subsequent wager of £20+ on slots unlocks 100 Free Spins and 20 Free Spins per day over 5 days on selected games. BeGambleAware.org
  • New customers only. Min £10 dep. Neteller/Skrill excl. Max bonus £100. Wagering 40x on bonus amount within 30 days. Bonus max bet £5. Spins paid 10 per day and valid for 24 hours. Game weighting and T&C apply.
  • Minimum deposit: £20. 20 spins in Book of Dead on reg. 100% bonus up to £100 and 100 bonus spins. First 50 bonus spins credited on deposit, Second 50 bonus spins credited the following day. Valid on first deposit only. Wagering on reload bonus: 60x. Wagering on bonus spins: 30x. Wagering must be completed within 30 days. Max bonus bet £5. Bonus is valid for a total of 21 days. Game weighting and standard bonus terms apply.

Articles & Guides

Related games
Read more