NetEnt is one of the most well known and popular slot developers out there, they have produced some beloved slots such as the classic Starburst and one of the highest paying slots on the market MegaJoker, which has an RTP of 98%!
Most players will have heard of NetEnt at some point or another. What some people may not know is that NetEnt has recently been bought out by competitor Evolution, the question everybody is asking is how will this affect the slot industry and what will happen to the games that they love – try playing Book of Dead slots.
Who are Evolution?
Evolution Gaming is a company which was founded in 2006, its main aim is to provide high quality live casino services to players, it is their speciality. They are an incredibly well respected brand, with many praising their level of quality and service. Evolution thrives on innovation, they are well known for exploring opportunities which may seem unusual in an effort to do something which other companies are not doing. They are an incredibly fast growing company, they have expanded massively over the past few years, a takeover has been more and more likely. The main companies who have faced Evolution Gaming have been Playtech and NetEnt. Takeover of Playtech was not feasible because they are too large a company.
Why Purchase NetEnt?
There are many reasons why Evolution chose to purchase NetEnt, the first was to remove a tough competitor. It is estimated that they paid around 1.8 billion. Though they will still face competition from companies such as Playtech, there is little doubt that acquiring NetEnt has put Evolution Gaming in a much stronger position. Another reason why it was wise to purchase NetEnt is because they have a lot of things which Evolution Gaming isn’t currently in the market for such as a huge slot game catalogue. Evolution Gaming primarily dealt with live casino games, thanks to the acquisition of NetEnt they can now expand into new markets. With over 200 slot games available at their fingertips, many of which are beloved by players and held in high regard by reviewers, Evolution Gaming will now control possibly the most popular slot developer in the entire world.
What does the Future Hold?
As NetEnt is integrated into Evolution Gaming, a sad loss will be the many jobs of those who were working at NetEnt. It is estimated that between 300 and 500 jobs could be lost by the takeover. Evolution Gaming will be looking to the future though, they will see the acquisition of NetEnt as the next step to dominance in the casino gaming world. Already one of the most revered casino brands, the addition of NetEnt and their slot library will only serve to increase their global prominence. With more and more US states filing to legalise online gambling, expanding to the US market could potentially be huge for Evolution Gaming. They already work with some American casinos but the financial gain they would get from US online casinos would be massive.
Evolution have bought out rival company NetEnt, the merger has cost them nearly two billion Euros. There may be as many as 500 job losses due to the takeover but Evolution Gaming are going to be looking toward continuing to expand as they attempt to crack brand new markets.