The merger forces hundreds of employees out of NetEnt’s Malta Office
As with most mergers and acquisitions, positions are moved or eliminated altogether. This is the case with hundreds of employees working from NetEnt’s office in Malta.
Though NetEnt’s office in Malta isn’t their only location, the company only employs around 1000 people worldwide. There is no definitive number of jobs lost yet, but it is confirmed to be a few hundred positions. In comparison to the 1000 employees the company has altogether, that is a significant portion of their workforce.
Employees were sent home last Tuesday and told to await further instructions
The studio is confirmed to be permanently folded, which leaves most if not all employees at NetEnt’s office in Malta jobless due to redundancy. It seems an abrupt move, especially with job markets taking a hit already this year.
NetEnt just relaunched and revitalized Twin Spin, one of their best and most popular games featured in top Pay N Play Casinos, less than a month ago. While fans of the game aren’t complaining at all, it does appear to be a strange move given their known and confirmed merger with Evolution earlier this summer.
Evolution offered to acquire NetEnt this past June for $2.1 billion. The deal was approved in November by the UK Competition and Markets Authority.
As unfortunate as this is for those employees, Malta’s Economy Ministry has stated it will attempt to find alternative employment for those who have lost their jobs.
2020 is a big year for Evolution, with awards and acquisitions
NetEnt is one of the most popular online casino platforms, but it’s not the only one Evolution acquired this year. They grabbed Red Tiger who also made updated their portfolio just a few months ago.
Evolution won the Live Casino Supplier of the Year award for the eleventh time in a row this year. The award was given at the EGR B2B Awards show.
Needless to say, 2020 is a great year for Evolution and their expansion sees no end or roadblocks even if the world this year is in a less fortunate state.
Evolution most likely doesn’t need NetEnt’s office in Malta
Evolution already has production studios in Malta, therefore they may not need NetEnt’s office in Malta at all. Though forcing hundreds of employees out of work is unfortunate, those positions are already filled by current Evolution staff in Malta.
Evolution is a company based in Sweden with a presence in several European countries including the UK. This year, they even opened two Live Casino studios in the US.