Sweden's NetEnt, which makes online slot machines and roulette games, wants to double its share of the global market to 30 percent despite doubts about whether it can sustain its rapid growth and an uncertain U.S. regulatory landscape. NetEnt is one of a cluster of tech firms in Stockholm which are punching above their weight globally, the best known being music streaming site Spotify. It was founded 20 years ago by Pontus Lindwall whose father built Sweden's largest restaurant casino operator and whose mother was a croupier.
The Swedish firm has recently signed contracts with casino operators in the United States, Britain and Spain and is producing online games ranging from blackjack to roulette. Earnings rose more than 50 percent last year and the share price doubled to give a market value of around $2 billion.
"We still have big growth potential in Europe. We have approximately a 30 percent market share and that means 70 percent to take," CEO Per Eriksson told Reuters.
"Then, we have the U.S. waiting for us and that is something we are looking forward to," Eriksson added.
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