NetEnt affirmed that their growth is fogged by looking at their past accomplishments. And this is going to change according to the new CEO Therese Hillman. Indeed, forward thinking is vital, especially in an ever-changing industry like the online gaming one.
Hillman is sure speaking the truth bluntly in her recent interview. Which makes us wonder if she sought council by reaching out to NetEnt’s customers. Of course, only good things can come out when taking the pulse with operators since they know what the market craves.
And, when you think of it, the only bad thing that can come out of this is a bruised ego. But in a competitive industry, ones’ desire to outshine the competition must take over their self-pride. And it’s exactly what Hillman is preaching nowadays. So, let’s see what Hillman’s plans are and how she’ll break out from the shadow cast by past achievements.
Not in the creek just yet
Even though Hillman speaks of changes and improvements, NetEnt isn’t in trouble! In fact, the company had a profitable third quarter. Overall, the revenue increase by 11% (£38.8 Million) with an EBITA up to 16% (£13.4 Million). So the former CEO Per Eriksson vision to “increase focus on long-term growth ” is still within reach.
But, Hillman added to the strategy. “Our ambition was always to outgrow the gambling market, which we’re not doing right now, so we’re not happy with the current revenue growth. We have to realise it’s 2018. And we have to look forward, rather than keep thinking about what we have done in the past. We’ve done lots of great things, but the competition is really tough right now. We need to look forward.”
Back to its core
In many occasions, one has to take a step back to get a clear picture. And sometimes even go back to what one knows best. Well, it looks like it’s precisely what NetEnt is planning to do according to Hillman.
“Innovation is key for growth, but we also need to have all the hygiene factors in place. We have focused on innovative products more, but we haven’t had unlimited capacity. In fact, with the launch of Live Beyond Live product on Mr Green this year, we’ve had limited capacity for our standard product. And it somewhat hurt us. So now we’re focusing on the standard products to make sure they become stronger.”