NetEnt reorganizes to increase profitability and competitiveness

(PRESS RELEASE) -- 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 to 35 new games in 2019.”