STATISTICS released by Net Entertainment show the bulk of the company’s revenue is generated in the regulated Nordic and United Kingdom markets.
The Swedish company generated 18% of its quarter one revenue in 2018 in the UK, while its home country of Sweden generated 14% of total revenue.
Other Nordic regions accounted for 16% while the other countries in Europe made up a total 47% of revenues generated. The rest of the world accounted for just 8% of total revenues, down by a percent which could be accounted for by the company pulling out of the Australian market.
The statistic were released at the NetEnt capital markets day, where NetEnt CEO Therese Hillman and her fellow executives will provide a business strategy update and provide forecasts, including the estimated impact of the soon to be enacted Swedish gaming tax.
The company will also be eying off a share of the North American market, which is set to open up in the coming months, after New Jersey’s successful appeal of the PASPA ruling.
The company is also bullish about further growth in new geographic markets in Europe and Asia.
”We have initiated changes to enable better execution of our strategy, focusing on cost control and new growth initiatives utilizing existing resources.,” CEO Therese Hillman said.
“Through a new, exciting product initiative we are now beta-launching a selection of our games on Facebook in the gaming form called Social Casino, which could generate new revenues in the mid- to longer-term perspective.”
NetEnt has long been out of the illegal North American market and the decision to leave Australia when their laws changed show the company’s commitment to regulated markets.
The company is also hopeful it will operate in the re-regulated Swedish market, which could be enacted as soon as January 1, 2019. It expects to take a hit of 2.5 percentage points.