Net Gaming Sees Revenue Drop Due To Competition And Regulation

August 21, 2019 by

iGaming subsidiary Net Gaming Europe recorded a 24% year-on-year decrease in income over the second half of the year, blaming more stringent laws for its difficulties on a variety of European economies. Revenue for the three months up to June 30, 2019 fell to € 3.5 m (£ 3.2m/$3.9 m), with the decrease partly balanced by the BettingGuide.se location takeover. With the exception of fresh purchases, income declined for their home products from the previous year by 27 per cent.

Chief Executive Marcus Teilman blamed the decrease for “political regulatory impacts” in Europe, citing the introduction of the iGaming industry in Sweden and the gambling advertising ban in Italy as important changes after the operator’s Q1 findings were published. This led to Europe’s income dropping to 69 per cent of the total group, down seven percentage points. Sweden, which accounted for 4% of income in the second quarter of 2018, saw its input fall to 2% of the complete group.

While North America accounted for 18 per cent of income— down from 19 per cent in the previous year — Net Gaming said business opportunities had resulted in important competition growth. This led in a drop in North American income of 32 per cent year-on-year. As a consequence, the share of other areas increased to 13% from 5% in Q2 2018. Partly through acquisitions and partially through organic growth, the company would aim to boost its global scope in the future, Teilmann said.

TOP canadian CasinosSeptember 2019
#CasinoCARatingBonusPlay
1 IE allowed5/5$1000 CAD Play now
Review
2 IE allowed4.9/5$800 CAD Play now
Review
3 IE allowed4.8/5$350 CAD Play now
Review
4 IE allowed4.7/5$1600 CAD Play now
Review
5 IE allowed4.6/5$750 CAD Play now
Review

Sophie Lise

More About

Sophie Lise has spent a long time enjoying the sights and sounds that Canadian casinos have to offer, and has paid particular attention to the slots this country provides access to. She has now opted to share what knowledge and information she has managed to gather along the way, and regularly contributes to CanadianOnlineSlots.net.
Her original thinking, honest, straightforward writing style, and uncanny ability to spot the next big thing has earned her many followers, and she enjoys engaging with her audience online. Passionate about casino industry news, Sophie ensures that her readers always know what’s hot and happening.

View Posts - Visit Website