NetEnt engaged in streamlining and restructuring

Swedish online gambling company NetEnt is taking action to optimise its operations, the company advised in a press statement Tuesday, revealing that it is streamlining and restructuring the organisation, which will lead to staff reductions in Stockholm.

The reorganisation is expected to result in non-recurring costs of approximately SEK 25 million, which will be booked in the fourth quarter of 2018.  Of these costs, SEK 5 million relate to a write-down of intangible assets regarding a development project in the area of Virtual Reality.

The restructuring of NetEnt affects 55 full-time positions, the statement reveals, most of which are in Stockholm and within corporate support functions. The changes are taking place during December and will lead to a reallocation of resources to increased game production.

Therese Hillman, Group CEO of NetEnt, said: “By decentralising our operations we take another step towards a new NetEnt, where customers and players are in focus. 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. Going forward, we will increase the pace of output and expect to release 30 – 35 new games in 2019.”

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