Great Figures for Online Casino Software Provider
As the end of the year approaches, additional firms in the industry are releasing their third quarter numbers in preparation for releasing their fourth quarter result and other business reports that are due shortly. Net Entertainment, a popular online casino software provider, was happy to inform the industry that its business numbers are way up and that the third quarter of 2007 was a positive one. The company has done better than it did during the same period of last year, and although it is encouraging – it’s not surprising. The third quarter of 2006 came exactly after the enactment of the Unlawful Internet Gambling Enforcement Act which was very bad for business.
Net Entertainment’s net sales have reached $5.09 million during July, August and September of 2007. This is an increase over last year’s number of $3.7 million. Looking at the returns after tax, the smile stays on the face. With $1.53 million, the online casino software provider has done greatly. Net profit margin was up by some 33 percent and it shows that the industry is back on its feet. This business report joins many other favorable reports made by other members of the online casino industry, namely 888 and Party Gaming.
“Net Entertainment’s active, continuous product development ensures that our products meet changes in demand. This will not only further increase our competitive strength and the profitability of our licensees, but also increase demand for Net Entertainment’s products,” said Johan Ohamn, the company’s Chief Executive Officer. Firms that do not change over time and do not reinvent their services portfolio won’t make it in a business like online gambling. The internet as a platform is highly dynamic and while poker is the most popular game amongst online casino players, change is the real game firms must win at.