Business News

Net Entertainment was one of the fastest growing companies in the industry but in 2011 it stuttered as Italy prevaricated over casino games. New CEO Per Eriksson will be expected to resume the company’s meteoric rise

Just six weeks into the new job and new Net Entertainment CEO Per Eriksson gets to present figures like these: Q1 revenues up 34 per cent and operating profit up 52 per cent. If Eriksson got the job in part because Net Ent was suffering a blip then that blip is well and truly over after two quarters of fantastic growth.

It might seem like it won’t get any better than this for Eriksson but it almost certainly will. Only six out of its eight operators are live in Italy and AAMS has yet to legitimise slot games, which account for 73 per cent of Net Ent’s revenues in other jurisdictions. The company is also making some technical adjustments to its platform as it prepares to take on the UK market for the first time. Q1 revenues look good; Q4 or Q1 next year might look incredible.

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