Evolution Gaming Shuts Down Netent Live Studios

The employees of NetEnt AB are facing an uncertain future after the renowned iGaming software developer announced plans to cut hundreds of jobs following its acquisition. The new owners, Evolution Gaming, have also revealed plans for a major organizational restructuring.

As reported by the Times of Malta, the Stockholm-listed company was recently acquired by its compatriot for a staggering $2.12 billion. One of Evolution’s first actions was to close down NetEnt’s live casino studios in Qormi, putting the jobs of their employees at risk. The process of selecting those who will be let go has now begun.

A Short-lived Era

NetEnt AB currently employs over 1,000 people globally and had only just expanded its live dealer casino portfolio three months ago. However, experts had predicted this outcome as Evolution Gaming already operates nine live casinos and blackjack rooms in the nearby region.

What Officials are Saying

Back in September, the Malta Competition and Consumer Affairs Authority approved the merger between Evolution and NetEnt. The Ministry for the Economy, Investments, and Small Businesses is now discussing ways to help those affected by the restructuring find new positions.

Authorities in Malta have set up a helpline for individuals who may lose their jobs, encouraging them to register on the JobsPlus training and employment platform. In an official statement, the Ministry said, “While acknowledging Evolution Gaming’s commitment to the local economy, the government is currently in talks with all parties involved to ensure a smooth transition for those who may be laid off as a result of this restructuring. Additional support is being provided through the JobsPlus platform, offering personalized recommendations and job-matching services for those affected.”