Net Entertainment just released their results for the second quarter citing large volumes of growth. The key areas for that growth include 2nd results increasing 12.7% to $132 million with an operating profit of $39.6 million. The report indicated that the operating margins came in at 30% and after tax profits was $36.6 million. The result saw earnings per share of Net Entertainment stock at $0.93 cents.
Net Entertainment also announced that it has signed 6 new licensing agreements with casino operating companies during this quarter for its casino games. To date Net Entertainment has seen revenues for the year at $260 million with operating profits coming in at $80 million. With a 30.5% operating margin and after tax profit of $71.3 million shareholders have earned $1.81 per share. Year to date Net Entertainment has signed up 12 new licensees with five of those being new casinos that launched this year.
The mobile product has continued to see growth this year with 4 additional casinos now offering Net Entertainment mobile games to their customer base. Net Entertainment also launched a live casino platform which has grown at a far slower pace than expected. This is due to casino operators holding off to see how this new arena for online gambling progresses. There were 3 agreements signed this quarter and a total of nineteen total agreements.