Digital casino solutions provider NetEnt has agreed a deal with Penn Online Entertainment – its first customer signing for Pennsylvania – on the day when it announced third-quarter results boosted by the release of licensed slot Jumanji.
Revenues for Q3 were up to SEK449m (£38.1m), up from SEK405m, with EBITDA standing at SEK227m (195m), a margin of 50.6 per cent (48.1 per cent).
Operating profit was SEK172m (155m) and profit after tax SEK155m (142m).
Noteworthy events in Q3 included games being launched with British Columbia Lottery Corporation in Canada and Norsk Tipping in Norway, the first customer launch in the regulated market in Lithuania, the creation of an affiliate programme and games going live with Hard Rock in New Jersey.
That US presence has now been bolstered, as NetEnt delivers its popular online casino games to customers of Penn National Gaming in Pennsylvania
“I look forward to our collaboration with Penn National and believe that our entertaining online games will be much appreciated by players in Pennsylvania”, says Erik Nyman, managing director of NetEnt Americas.
Therese Hillman, appointed as NetEnt’s CEO in May, pointed to a goal of increased organic earnings through optimisation: “The third quarter was marked by a strong start thanks to the successful release of the game Jumanji.
“We continue to make efforts to lower overhead costs and to optimise the organisation for commercial drive and increased pace of output, and I see room for improvement next year in several areas. Our net cash position provides us with financial flexibility and allows for continued solid cash returns to shareholders.”
