Releasing online slot games has proven to be increasingly lucrative for developers.
With online casinos more popular than ever in 2020 – due to the coronavirus crisis forcing many bricks and mortar casinos to close their doors – the sector seems set for even more growth.
In fact, global gambling revenues have been forecast to rise to more than $60 billion in 2020.
But which are the top slot development companies ranked by revenue? Let’s take a look.
It is no surprise to see Microgaming included on this list, given the fact that the company claims to have set up the first true online casino software all the way back in 1994.
Nearly 30 years later and Microgaming is still a massive force in the industry, with the firm famous for handing out gigantic payouts such as the £13,209,300 that was won by a British soldier playing the Mega Moolah slot game – it even set a new Guinness World Record.
Game of Thrones and Jurassic World is among the licensed slot games to have been developed by the Microgaming studio over the course of the past few years.
Microgaming keeps its revenues tightly under wraps, but there is absolutely no doubt the firm is included in the top slot development companies when they are ranked by their revenue.
Dominating the Australian market, Aristocrat recorded revenues of 4.397 billion AUD in 2019, so the company is without a doubt one of the top slot development companies right now.
Aristocrat operates in almost 100 countries and the company is licensed in around 300 gaming jurisdictions, so this is a truly global juggernaut.
With a history dating all the way back to the 1950s, Aristocrat has a hand in a number of charitable causes and last year donated $250,000 to support drought and bushfire relief efforts in New South Wales and Queensland.
“We are proud to be partnering with a major customer organization in Clubs NSW, and joining with our local employees and other charities, to make a contribution and help those affected,” said David Ronson, the company’s managing director of Aristocrat Asia Pacific.
Making hundreds of millions of euros a year in revenues means Novomatic – which is in the most complete list of slot developers we found at DogSlots – ranks alongside Microgaming and Aristocrat when it comes to the most successful companies in the slot development world.
In their 2019 financial results, turnover at Novomatic was more than €5 billion, with the firm pointing out the strength in the Austrian market contributed to its positive data.
The company – which has locations in more than 50 countries – recently ranked second place amongst the most valuable Austrian brands, moving ahead of Swarovski and sitting only behind the drinks giant Red Bull.
Novomatic has been recognized through winning industry prizes such as the Global Gaming Award 2020 for the Casino Supplier of the Year.
Last year saw NetEnt record a fall in its revenues, but the company is still one of the most profitable slot development studios out there right now.
The Swedish company snapped up Red Tiger Games in September 2019 as part of its aggressive expansion plans in the industry.
NetEnt has been targeting growth in the United States and its latest American revenues were on the up, but Sweden and Norway revenues declined for the company in the last year.
“Since the acquisition, Red Tiger has exceeded our expectations and now forms a vital part of our ongoing improvement efforts within the NetEnt Group,” NetEnt’s chief executive, Therese Hillman, said when announcing the financial results.
Live casino games were highlighted by the company in a statement as an area where NetEnt was expecting to see a strong contribution towards its revenues for the year 2020.
No list of the top slot development companies ranked by revenue could be complete without a mention for IGT, one of the industry’s giants, which makes billions of dollars every year.
IGT, which recently announced that the company paid out four massive jackpots totaling more than $10 million in July, makes popular games such as Wheel of Fortune Slots.
In the company’s second-quarter results, released in August, IGT said the firm made a net loss of $280 million – an adjusted net loss of $121 million – due to the impact of COVID-19.
CEO Marco Sala said: “Our resilience is a direct consequence of the diversity of our global portfolio of products and solutions. The improving trends we are currently seeing are encouraging, but we remain prudent with our planning. Our new organizational structure enhances our readiness to adapt to changes in market conditions.”
Companies like IGT will continue to face COVID-19 challenges in the months to come, but the trend is for slot development companies to keep increasing their revenues overall.