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Tue, Sep

Good Q4 Numbers Reported by Net Entertainment

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Net Entertainment logoStockholm based online casino software provider, Net Entertainment, reported that revenues for the last quarter of 2011 grew by an impressive 21.6 % yielding revenue of GBP 11.51 million.

Net Entertainment reported that its’ profit after tax during this period increased by 26% to GBP 3.48 million.

Several important developments occurred at Net Entertaining during 2011 with the group unveiling its new 5 reel and 20 pay-line online slot game Scarface at the International Casino Exhibition (ICE) in London last month, signing two licensing deals and launching two partner online casinos.

Net Entertainment revealed that its full year revenues had increased by 16.1% during 2011 to GBP 40.63 million while its operating profits were GBP 12.32 million.

Bjorn Krantz, Acting Chief Executive Officer of Net Entertainment said "revenues increased by 21.6% during the fourth quarter as a result of organic growth. Net Entertainment has been successful in strengthening its position as a leading supplier of games and systems within online casino and our focus on customer closeness and product and technology leadership will continue to differentiate us."

Krantz added that the company’s market share in Europe increased to 22.4% during 2011 compared to the 19.3% market share during 2010.