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Net Ent profits impacted by delayed Italy casino launch

3rd May 2011 9:36 am GMT

Despite posting an 8 per cent increase in revenues, Sweden’s Net Entertainment has recorded a 26 per cent drop in profit to SEK22.9m for the first quarter of 2011, with the company warning that its profitability will continue to be impacted until it begins generating online casino revenues in Italy.

Net Entertainment said that revenues grew by 21 per cent in local currency (Euro) during the quarter, with the strengthened Swedish currency holding back revenue growth [...]

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