Stockholm-listed casino solutions provider NetEnt has confirmed plans to streamline and restructure the company, with 55 full-time positions to be cut from its Stockholm office.

The supplier said Wednesday that it is taking action in order to optimise its operations and increase profitability and competitiveness, with a total of 55 full-time positions affected, most of which will be from NetEnt’s Stockholm office and within corporate support functions.

The changes are taking place this month and will lead to a reallocation of resources to increase game production.

The reorganisation is expected to result in non-recurring costs of approximately SEK25m (€2.4m), which will be incurred during the final quarter of this year. Of this amount, SEK5m relates to a write-down of intangible assets relating to Virtual Reality development.

“By decentralising our operations we take another step towards a new NetEnt, where customers and players are in focus,” said NetEnt chief executive Therese Hillman. “The new organisation will have clearer responsibilities and more emphasis on value-creating initiatives.

“We are pleased to see the performance of our new game releases so far in the fourth quarter as we continue to diversify our game portfolio,” Hillman added. “Going forward, we increase the pace of output and expect to release 30 – 35 new games in 2019.”

Shares in NetEnt AB (STO:NET_B) were trading up 1.02 per cent at SEK37.46 per share in Stockholm Wednesday morning.


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