Net Entertainment, in keeping with many other Swedish gaming companies is making their presence felt in the online bingo industry. They offer bingo online software support to quite a number of online bingo operators and also enjoy a very good relationship with the Swedish land-based bingo industry.
They have announced that they have had a very good financial result for 2007 with the fourth quarter doing especially well. Their sales increased by 12.5% in the fourth quarter as compared with the 3rd quarter and they are now planning an entry into the Ukrainian online bingo industry in 2008.
This announcement has caused much speculation amongst online bingo operators and industry pundits that Net Entertainment might just be seeking a strong presence in the online bingo market and as the Swedish Government practices monopolistic online and land based gaming regulations, it might not seem quite right that a Swedish based company is going to be expanding its operations into the greater European market place.
I think that the Swedish Government needs to get its ducks in a row with the European Commission and free trade practices first or there will more than likely be a huge hue and cry when they try to expand their market into the EU.