Published
OnlineCasinoIndustry

NetEnt to cut hundreds of Malta jobs ahead of Evolution merger

Gaming supplier NetEnt is set to cut its work force in its Malta-based live casino studio as a result of its impending merger with Evolution.

malta

According to reports from the Times of Malta, NetEnt’s Malta employees were sent home on Tuesday morning and instructed to await further information.

A spokesman for Evolution reportedly told the Times of Malta that the Qormi studio will be permanently shut down, leaving all employees “at risk of redundancy.”

Although the company is yet to confirm how many employees would lose their jobs, a source has informed the news agency that it will be “a few hundred.”

Evolution made its initial offer to acquire NetEnt in June this year, for a total sum of SEK 19.6bn ($2.1bn). The offer valued each share in the Swedish slots and online casino supplier at SEK 79.93, and a premium of 43% over NetEnt’s closing price on the day of the offer.

After the UK Competition and Markets Authority approved the deal last month, the merger has the necessary approvals to proceed.

NetEnt currently employs around 1,000 staff across the world. Although some Malta employees will lose their jobs, the country’s Economy Ministry said it will attempt to identify alternative jobs for former employees.

Gambling Insider has contacted NetEnt for comment on the story.

Premium+ Connections
Premium

1xBet Partners

 
Premium

Galaxsys

 
Premium

Lynon

 
Premium

Digitain

 
Premium

GammaStack

 
Premium

RISK

 
Premium

Imagine Live

 
Premium

PIN-UP Partners

 
 
Premium

Sport Generate

 
Premium Connections
Consultancy

SCCG Management

Executive Profiles
Zeal Network SE

Stefan Tweraser

VIP Play

Les Ottolenghi

Scientific Games

Keshav Pitani

Social & App

Spribe CEO exclusive: Simplicity is the foundation

Spribe CEO David Natroshvili speaks to Gambling Insider abou...

Redefining iGaming: A history of crash games

Crash games is a growing vertical that has taken gambling by...

A certain something: What makes crash games special?

Crash games. They’re simple, they’re easy to learn and,...

Smarter innovation to shape the future

Spribe CCO Giorgi Tsutskiridze discusses the past, present a...

Facing Facts: The corner of quarterly contemplation

With Q1 reports out across the industry, Gambling Insider co...

Taking Stock: A guide to key stock prices across the industry

Gambling Insider tracks prices from some of the industry’s...

15 years of Gambling Insider: From the Founders

Over the last 15 years, Gambling Insider magazine has interv...

15 years of Gambling Insider: The Awards over time

Global Gaming Awards Event Manager Mariya Savova gives us he...