Most significantly, profits after tax rose by a massive 106.9 percent to $3.96 million from $1.91 million, helped by the signing of three new license agreements for its CasinoModule software solution alongside two breakthrough deals for its CasinoCafe land-based gaming system.

”This year is off to a strong start for Net Entertainment with continued sales growth and several new license agreements,” said Johan Ohman, President and Chief Executive Officer for Net Entertainment.

“The market for online gaming shows positive development where organic growth was the prime driver for the company during the period.

“We move into the second quarter with an order book comprising 14 casinos that still are to be commissioned, of which three are so-called ‘Tier One’ operators.

“It is my view that the company has good opportunities for continued success as a result of our specialisation within the segment of the online market with the highest growth and strongest profitability.

“The IT project initiated at the end of 2008 aimed at increasing our development, delivery and operational capacity has progressed according to plan and affected the cost base during the first quarter. The project continues during the second quarter and creates a foundation for the continued growth and expansion for the company.”

Abstract from www.igamingbusiness.com

According to a story from Swedish newspaper Aftonbladet, the plans are part of the recent Government-commissioned Nyren Report investigating proposals that could lead to a new controlling gambling act.

If passed as written, the proposals would prevent Sweden-based players from accessing and playing on foreign gambling and poker websites. The Government stated this week that it would continue its efforts at strengthening the nation’s regulations in order to prevent an increase in gambling addictions.

It warned against liberalising the market but its plans have come under fire from both home and abroad with Internet service providers and domestic authorities largely condeming any legislation that would place limits on online freedoms. Many feel that it could lead to wider censorship and unfairly limit an individual’s right to use the Internet.

The State-owned Svenska Spel monopoly is the world’s twelfth largest online poker room and it is not currently illegal to visit or place bets using a foreign site.

Abstract from www.igamingbusiness.com