Gaming provider NetEnt is expected to reduce its workforce at its live casino studio in Malta as a direct result of its merger with Evolution. The process of joining companies should be completed soon.
According to reports from the Times of Malta, NetEnt employees in Malta were taken to their homes last Tuesday, November 1, and instructed to wait for more information.
An Evolution spokesman reportedly told the Times of Malta that the Qormi studio will be permanently closed, leaving all employees “at risk of being fired”.
Although the company has not yet confirmed how many professionals could lose their jobs, a source informed the news agency that there will be “a few hundred”.
Evolution made its initial offer to acquire NetEnt in June this year, for a total value of SEK 19.6 billion (about US $ 2.1 billion).
The proposal valued each share of the online casino provider at SEK 79.93 ($ 9), plus a 43% premium over NetEnt’s closing price on the day of the offer.
After the UK Competition and Markets Authority approved the deal last month, the merger acquired all the approvals necessary to proceed.
NetEnt currently employs around 1,000 employees worldwide. Although some Maltese officials will lose their jobs, the country’s Ministry of Economy has said it will try to identify alternative jobs for these citizens.
NetEnt is a leading provider of premium gaming solutions for online casino operators worldwide. The company seeks to act in a pioneering way to surprise the market with exciting games on a cutting edge platform.
In addition, the company offers flexible digital casino solutions, so that customers can be unique, premium and ahead of their competition, all at the same time.