NetEnt reorganizes to increase profitability and competitiveness
As previously communicated, NetEnt is taking action to optimize its operations. Now, the Company streamlines and restructures the organization, which leads to staff reductions in Stockholm. The reorganization is expected to result in non-recurring costs of approximately SEK 25 million, which will be booked in the fourth quarter of 2018.
The restructuring of NetEnt affects 55 full-time positions, 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.
The reorganization 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.
Therese Hillman, Group CEO of NetEnt, comments: “By decentralizing our operations we take another step towards a new NetEnt, where customers and players are in focus. The new organization 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 increase the pace of output and expect to release 30 – 35 new games in 2019.”
For additional information please contact:
Therese Hillman, Group CEO, NetEnt
Tel: 08-57 85 45 00
Roland Glasfors, Investor Relations & Corporate Strategy, NetEnt
Phone +46 760 024 863
This information is information that NetEnt AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on December 12th, 2018.
NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on NASDAQ Stockholm (NET–B) and employs 1,000 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey. www.netent.com