Evolution Formally Begins NetEnt Acquisition 

Evolution, formally Evolution Gaming, has officially begun its acquisition of large gaming provider NetEnt. 

This will result in what Evolution is calling a “total reorganization” of NetEnt. 

What does this mean for NetEnt?

Evolution is currently one of the top live dealer game providers in the world. As such, NetEnt’s live casino division will be closed with Evolution’s live casino division enveloping them. This move will allow Evolution to reduce costs by €30m per year. 

Furthermore, NetEnt has also announced that it will delist its B-shares from the Nasdaq Stockholm exchange on 16 December while Evolution has also initiated a compulsory buy-out procedure to acquire all outstanding shares. 

NetEnt currently employs 1,000 employees worldwide. 

The Times of Malta has reported that a spokesperson for Evolution has stated that Qormi studio will be permanently shut down, leaving all employees “at risk of redundancy.” 

What does this mean for the iGaming industry in Malta? 

Currently, the Chief Operations Officer of the Gaming Malta Foundation, Ivan Filletti, is assuring Maltese citizens that those affected will be able to find positions within top gaming companies.

He was quoted in The Malta Independent as saying, “There are currently over 700 open vacancies within the Maltese islands. Many companies have reached out to us to match skills with those made redundant. Job causalities in the sector are related to mergers and take-overs, not Covid-19”.

He has assured that the gaming industry in Malta is “stable,” and that “and the country remains a desirable hotspot for gaming companies from across the world.” 

What does this mean for players of NetEnt games?

The acquisition of NetEnt by Evolution is not expected to have any impact on those that enjoy playing NetEnt games. 

While the live casinos division of NetEnt is closing, players will instead be shifted to Evolution’s live studios to be able to enjoy the same gaming experience. 

All of your favorite slot games will continue to be available as well.