Hundreds of releases in the iGaming industry
Employees were ordered to pack and wait for an email from the employer. As reported by Dziennik Times of Malta, the company Netent, dealing with live games, including in the studio in Malta, began a reduction in jobs and closed his live casino studio in this country after taking over the company by another giant from the industry. On Tuesday morning, Netent employees were sent back home and told them to wait for e-mail from their employer with further instructions. The whole situation is related to the acquisition of the company by another giant - Evolution Gaming. This is so surprising that online casino seemed to be resistant to virus and crisis, which apparently did not touch the online market.
Netent employs about 1,000 employees around the world.
Netent is one of the company that offers the most innovative offer on slots. A few months ago, we informed you about the acquisition of RED Tiger. However, a very important part of the business is also live gaming tables. Perhaps, that's why Evolution Gaming has made an offer to take over the netent in June, valuing a company for about 2 billion euros. Evolution Gaming so far, specialized only in casino games live.
The company did not confirm exactly how many of its employees in Malta will be released, but the daily Times of Malta was informed that many hundred employees Netent will lose their jobs as part of their contracts. A special government aid line was created to help employees whose jobs have been cut into a few weeks before Christmas.
In response to the allegations, the evolution gaming spokesperson said that his studio in Maltese Qormi will be closed, and therefore "people working there are exposed to release". The Ombudsman said that formal processes of employment reduction were already started.
This decision may be surprised, because only three months ago, Netent announced that he expands his studio in Qormi for new tables to Blackjack, claiming that this was due to the increased demand experienced by a live casino during the epidemic. However, industry sources have reported that certain redundancies were expected as part of the company's acquisition by Evolution Gaming.
Promised Work Support
Fortunately, the employees will not leave themselves, the Ministry of Economy informed that there were discussions on finding alternative jobs for employees who can influence the employment reduction process.
The statement was found that by noting the strong involvement of Evolution Gaming into its activities in Malta, the government, through the Ministry of Economy and Industry, immediately started talking with relevant entities to facilitate the smooth transition of employees who may be threatened by being released as a result of this restructuring.
The acquisition of Netent by Evolution Gaming was not only a record transaction, which is quite an unexpected move. Seemingly, the netent seemed to this player who gave away cards on the market and Evolution Gaming was known mainly from live games. A supplier that specializes in casinos live, announced an offer to buy a netent, the owner of the Red Tiger, under a contract worth 19.6 billion sec (USD 2.26 billion).
In one of the interviews, the Evolution Gaming spokesman told the Gambling Insider magazine that "the combination of the leading position of Evolution in a live casino with a strong position of the netent in the gaming machines will create the best game supplier in its class." We are very interesting how the situation will continue to develop and what further changes will be included in the NetTent offer in connection with taking over it by a recent competitor.