NetEnt announces bad 2018 figures: share drops 14%

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NetEnt is not doing well.

NetEnt announced the annual figures yesterday. The slot machine developer converted around € 170.6 million in 2018. That is a meager 2.2 percent more than a year earlier. So NetEnt is growing, but a lot slower than the online gambling market as a whole. This is because it grows by 9.9 percent.

A share of NetEnt today is worth no less than 2.3 times less than in May 2016. At the beginning of 2018, CEO Per Eriksson had to leave the field.

His successor, former CFO Therese Hillman has not yet been able to turn the tide. The contours of the new course of NetEnt are slowly becoming clear:

  • payout percentages of new slots are lower than you are used to. Instead of 96.5 to 97 percent, the NetEnt slots pay out around 96 percent.
  • the number of new releases is increased by 9 to 14 slots.
  • nowadays, the NetEnt website appears to be more a casino advertising site than a game provider's website.

NetEnt is busy with everything except increasing the quality of its new slots. Hope it turns out fine…

A free tip from CasinoJager: shoemaker, keep reading!

55.3 million euros profit

The turnover of 170.6 million euros was good for a profit of 55.3 million euros in 2018. That is only slightly more than the 52.4 million euros in the previous year.

The last quarter of 2018 was good for a turnover of 44.6 million euros. No less than 11.7 billion times someone pushed the button to spin a NetEnt slot machine or place a bet at one of the table games.

NetEnt mainly generates revenue with slots. No less than 91.9 percent of sales are made on slots. Table games, such as roulette and baccarat, account for 7.8 percent.

The mobile phone is rapidly gaining in share. Of NetEnt's turnover, 61.9 percent is brought in by players who play via their mobile phone.

NetEnt - Halloween Jack online slot
Halloween Jack was one of the better releases in the last quarter of 2018.

Many more slots in 2019

NetEnt wants to find its way up by paying more attention to the figures. The new CEO Therese Hillman is therefore primarily an accountant and not so much a slot machine fanatic. More slots, more ways to make money, less prize money and less staff. That's what we can expect in a nutshell.

NetEnt is going to boost production considerably. In 2018, NetEnt launched 21 new slots. That should be at least 30 in 2019, but preferably 35. More slots means more profit, it seems to the Swedish-Maltese game providers. Especially when new slots also have somewhat lower payout percentages. And players lose just a little more.

CasinoJager is holding its heart. The last quarter of 2018 was fairly productive with six new slots. In qualitative terms, however, it was bad. Halloween Jack and Jingle Spin are technical clones of Jack and the Beanstalk and Eggomatic, respectively. Coins of Egypt is moderate. Wild-o-Tron 3000 and Wild Bazaar were just bad releases. In fact, only the branded slot machine could charm Vikings CasinoJager.

And in 2019 we will get almost one and a half times as many. With fewer people, because NetEnt is going to cut costs and a part of the staff can look for another job.

Peter Scudamore's Super Stakes

Conan, Ozzy Osbourne and more …

At the ICE gambling fair, NetEnt already announced some new names for 2019. NetEnt is again betting on branded slots. These are slots with the theme of a well-known film or music legend. In 2019, Conan the Barbarian and Ozzy Osbourne will get their own slot machine. Narcos was already announced in 2018 and we still have credit.

In the coming period you can also expect a number of other new NetEnt slots. On April 23, 2019, the popular Dead or Alive slot machine will receive a successor: Dead or Alive 2.

NetEnt also comes with Scudamore's Stuper Stakes, a high-variance slot game about the legendary rider Peter Scudamore. Funny is that the horses on this slot have names like Berry Max, Gonzo's Quest and Divine Fortune. Other names are Temple of Nudges and Golden Grimoire.

CasinoJager has a hard head in it. The great NetEnt talents that made gamblers look wateringly at "the new van NetEnt" nowadays run at Quickspin, Play'n Go and Yggdrasil. It is therefore not so coincidental that these game providers nowadays simply make nicer slots than NetEnt.

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