Evolution Gaming Shuts Down Netent Live Studios

The future is uncertain for employees of NetEnt AB as the renowned iGaming software developer announced plans for job cuts following its recent acquisition by Evolution Gaming. The Swedish company, valued at $2.12 billion, has already begun a major restructuring process.

According to reports from the Times of Malta, one of Evolution’s first decisions as the new owner was to close NetEnt’s live casino studios in Qormi. This puts hundreds of employees at risk of losing their jobs as the selection process begins.

A Short-Lived Success

With over 1,000 employees worldwide and a recent expansion into live dealer casinos, NetEnt’s success may have been short-lived. Experts predicted this outcome due to Evolution Gaming’s already established presence in neighboring regions with nine live casinos and blackjack rooms.

What Officials are Saying

The Malta Competition and Consumer Affairs Authority approved the merger between Evolution and NetEnt back in September. The Ministry for the Economy, Investments, and Small Businesses is currently exploring options to help those impacted by the restructuring find new opportunities.

In response to potential job losses, Maltese authorities have set up a helpline through JobsPlus to assist affected individuals in finding new employment opportunities. The Ministry’s official statement reads, “While acknowledging Evolution Gaming’s commitment to the local economy, the government is working with all parties involved to ensure a smooth transition for those affected by the restructuring. Additional support is also being offered through JobsPlus, providing personalized recommendations and job-matching services for all impacted individuals.”