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February 20, 2008
In keeping with the recent emergence of Swedish online gaming companies asserting their presence in the online bingo world, online gambling software developer Net Entertainment has revealed a successful 2007 with an especially good fourth quarter.
CEO Johan Ohman said: "Net Entertainment's Q4 development was good, and net sales increased 12.5 % compared to Q3. The 32.4 % total net sales increase for 2007 should be compared with an average 23 % increase for European online gaming, according to Global Betting and Gaming Consultants estimates.
"Successful product development and continued strong market growth are major reasons for our success. Incoming orders continue to pour in, and we signed five new CasinoModule license agreements during Q4, for a total of 18 in 2007."
Net Entertainment is also planning the start of their entry into the Ukrainian market during 2008.
Ohman concluded his assessment of the last year saying: "The online gaming market is predicted to continue to grow positively, which benefits us through the organic growth of our current licensees. I believe that we are also better equipped than ever to win new strategic deals and thereby further reduce our dependency on existing customers."
Net Entertainment offers online bingo games and supplies software support to a number of online bingo halls. The company also has a strong involvement in Sweden’s land-based bingo industry provoking speculation amongst online bingo industry watchers that they may seek a stronger presence in the online bingo market.
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