Evolution Gaming Shuts Down Netent Live Studios

The team at NetEnt AB is facing a time of uncertainty following the company’s recent announcement of job cuts in the wake of its acquisition by Evolution Gaming. The well-known iGaming software developer was recently acquired by its compatriot for a whopping $2.12 billion, and the new owners are now planning a major restructure.

According to reports from the Times of Malta, one of Evolution’s first decisions was to close down NetEnt’s live casino studios in Qormi, putting hundreds of employees at risk of losing their jobs. The formal process for selecting those who will be affected has already begun.

A Short-Lived Era

With over 1,000 employees worldwide and a recent expansion into live dealer casino games, NetEnt AB was on an upward trajectory until this acquisition. However, industry experts had predicted this outcome as Evolution Gaming already operates nine live casinos and blackjack rooms in nearby regions.

The Government’s Response

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 working to find replacement positions for those impacted by the restructuring effort.

Meanwhile, authorities in Malta have set up a helpline for individuals who may be at risk of losing their jobs. The helpline encourages those affected to register on the JobsPlus training and employment platform. According to an official statement from the Ministry, “While we acknowledge Evolution Gaming’s commitment to the local economy, we are currently in talks with all parties involved to ensure a smooth transition for employees who may be laid off as a result of the restructuring. We are also working with JobsPlus to provide personalized recommendations and job-matching services for those impacted.”