Casino News

NetEnt Shuts Down Qormi Studio and Begins Layoffs

NetEnt, one of the leading live casino content providers which has recently been acquired by Evolution, has begun cutting jobs. The renowned content provider has also shut down its live casino studio operation in Qormi.

hundreds-of-job-cuts-at-gaming-company-netent

After the acquisition by Evolution, employees at NetEnt were sent home and told to expect an email regarding further instructions. There is no exact information about the number of people that have been let go, but it is estimated that the number is in the hundreds. After the layoffs, the government set up a special helpline to help the staff that has lost their jobs, just weeks before Christmas.

Only three months ago, NetEnt announced that its Qormi studio will be expanding, due to an increase in demand. Representatives from Evolution, before the content provider was acquired said that NetEntโ€™s Qormi studio would be shut down and that the people working directly with the studio would be at risk of redundancy and that the formal redundancy processes have been initiated.

The acquisition process started back in June, when Evolution proposed an offer to acquire NetEnt. The deal went on to amount to $2.11 billion, with the supplier acquiring the majority of shares. Evolution received approval from the Malta Competition and Consumer Affairs Authority in September to acquire the Stockholm-based brand and the companyโ€™s shareholders voted to support the acquisition.

More About NetEnt

NetEnt is a leading provider of top-notch gaming solutions. The company is partnered with some of the biggest names in the industry, including operators, other content providers and so on. The company is regulated and licensed by the United Kingdom Gaming Commission. It holds licenses in Alderney, Belgium, Gibraltar, Malta, New Jersey, Romania and Spain.

The content provider hires over 1000 employees, all professionals who are responsible for creating some of the most thrilling games in the global market. In 2018. the company handled 44.7 billion gaming transactions, which is a testament to their capabilities. The brand has a strong presence in Sweden, Malta, Ukraine, Gibraltar, USA and Poland.

About Evolution

The games provider was founded in 2006 and it immediately had an impact on the European live dealer platforms. Evolution has been growing ever since and has signed deals with a lot of companies and made new partners including 888 Casino, Betclic, Betsson and other renowned providers.

Its offering includes live casino games with real, professional dealers, made in the state-of-the-art studios in Latvia and Malta. All of Evolutionโ€™s releases are available on desktops, tablets and smartphones. It is licensed and regulated by the Alderney Gambling Control Commission, Malta Gaming Authority, the UK Gambling Commission, Belgium Gaming Commission, Romania National Gambling Office and Canada BC.

Source: Martin, Ivan. โ€œ’Hundreds’ of job cuts at gaming company NetEntโ€. Times of Malta. December 1, 2020.