Net Entertainment Reports Profits:3

The revenue of Net Entertainment is directly reflective of basic supply and demand principles. The higher volume meant that the company had to lower prices, but that is something that did not hurt this online casino at all… The third quarter reported a profit of 108 percent from the third quarter of 2007. This also was a 21 percent increase from the second quarter of 2008. The company’s games were developed at a faster rate due to an outsourcing decision made by the company. The contracts with the Ukraine for game development were outsourced to Stockholm which made for much faster development. In this age where everything needs to be available in seconds, we say: the faster the better. They did suffer a bit of a monetary loss when it came to the outsourcing to Stockholm because of the OMX Nordic Exchange.

The number of contracted customers for the Net Entertainment roster reached a high of 17 and they have not even been launched yet. The online casino industry is projected to grow an estimated 16 billion dollars in 2008 alone. This is not even counting any business that could be received if online casinos were legal in the United States. Europe is going to take the cake this year with a projected growth of 15-20 percent. Just in case you did not know, Europe is the current largest online casino market, with Asian countries nipping at their heels. Net Entertainment is reporting that their goals for the remainder of the year are to target a broader audience by spicing up their already impressive portfolio.

The online casino entertainment company has a total of 77 employees on their payroll and an estimated 30 subcontractors that also take part in the Net Entertainment pie. Their success is even sweeter with the recent accreditation by eCOGRA, which is a stamp of approval by a respected “player protection and standards body”. The company wants to stay on the track that it is on and continue to have their online casinos release new games every twelve weeks.