Through the platform’s proprietary tools, NetEnt expects to concentrate on equipment integrity, player behaviour analysis, integrity checks and improve risk credibility. Due to the integration of LFS, NetEnt sas “rigorous processes” have been put into place aiming to detect advantage play methods like card counting and tracking, roulette prediction, robot play and bonus abuse, outright cheating, collusion and shuffle quality analysis.

“We are committed to maintaining the highest levels of integrity to offer the safest and fairest live gaming experience for operators and players. This involves us constantly reviewing our offering and adding Live Fraud Solutions’ tools to NetEnt Live advances these capabilities to be the most robust possible,” said Andres Rengifo, Director of NetEnt Live.

“As a global industry leader, we are delighted NetEnt has chosen to partner with Live Fraud Solutions. We look forward to working closely with the NetEnt Live team to deliver a product that achieves the maximum levels of integrity,” said Toms Andersons, CEO of Live Fraud Solutions.

In addition, NetEnt went from six to eight decks on its Blackjack tables, as the press release tells BM.

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The NBC offers three product tiers delivering varied customisation, allowing operators to develop a live casino enhancing player loyalty, NetEnt says.

In addition, the new product consists of two different rooms. One containing blackjack tables and one VIP table and the other including the recently launched product Perfect Blackjack, which offers a return-to-player (RTP) of 99.5% and allows customers to “follow, watch and learn flawless strategy,” NetEnt says.

“The Network Branded Casino from NetEnt Live has a range of quality solutions that suit all types of operators and their objectives. The product is fully attuned to their needs, allowing them to benefit from a state of the art live casino product and prioritize what is most important to their brand through new levels of flexibility,” said Andres Rengifo, Director of NetEnt Live.

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NetEnt is also moving into a new office in the Stanley Building at Kings Cross, which the company tags as a “strategically-important step”. The UK team has also been growing staff-wise and the office is seen to grow further within the next few months, as the press release says. 

“We are delighted to be open for business in the United Kingdom. We need a local presence to better support our valued customers and grow our market share. We have already recruited some key talent and now we begin a period of recruitment for the second wave,” said Andy Whitworth, Managing Director of NetEnt UK Ltd.

“This is a natural next step and an example of our commitment to the local market. The United Kingdom is already our largest market, and we see a short-term opportunity to grow our market share by being closer to our UK-based customers. Our increased presence in the United Kingdom is one of the NetEnt Group’s key strategic initiatives this year,” said Therese Hillman, CEO of NetEnt.

Although the company makes no mention of it, this step comes amid increasing Brexit uncertainty; as currently, Prime Minister Boris Johnson is trying to negotiate a Brexit deal in Brussels. Analysts expect the Brexit to shake up markets, with KPMG recently having forecast that a no-deal scenario could push the United Kingdom toward recession.

Business Malta earlier reported that online gambling company ComeOn has left the UK market, which step the company rationalised as an attempt to concentrate its business on more favourable markets.

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NetEnt is paying an initial consideration of approximately £197m (approximately €219m) for 100% of the shares of Red Tiger. In addition to the initial purchase consideration, a remaining amount of maximum £23m (approximately €25m) may become payable in 2022 on an earn-out basis, subject to Red Tiger’s financial performance over the coming two years, according to the press statement.

This implies a maximum enterprise value of £223m (approximately €248m), corresponding to an enterprise value multiple of approximately 12 times current year EBITDA. NetEnt’s income for the third quarter of 2019 will include approximately SEK 55m (approximately €5.1m) of transaction- and financing-related costs.

The transaction will be completed imminently and is expected to be accretive to NetEnt’s EPS in 2020. Lazard has acted as financial advisor and Cirio Advokatbyrå has acted as legal advisor to NetEnt in connection with the transaction.

Established in 2014, Red Tiger is an online supplier of casino games and software, employing a staff of 170 with operations in Malta, Isle of Man and Bulgaria. Red Tiger’s earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to reach £18m for the full year 2019.

Over the last several years, NetEnt has invested in a global infrastructure focusing on customer reach and regulated markets, supporting a platform for scale. The acquisition of Red Tiger is expected to give NetEnt the opportunity to capitalise on its scalable technology to support future growth.

“I am very pleased to welcome Red Tiger into the NetEnt Group. The acquisition combines two of the leading and most innovative companies in the online gaming industry. We look forward to working with Red Tiger’s fantastic team to enhance our combined global reach and to offer further value to operators and players. The transaction will provide significant revenue synergies across our markets worldwide,” said Therese Hillman, Group CEO of NetEnt.

“This is an exciting new stage of the Red Tiger story and we are delighted to become part of the NetEnt Group. Accessing NetEnt’s unparalleled distribution network and geographic footprint will unlock new opportunities for Red Tiger and will further accelerate our growth. At Red Tiger, we will remain focused as always on driving further innovation and we are looking forward to working with NetEnt on how to leverage our combined capabilities to create new products that wow our customers,” said Gavin Hamilton, CEO of Red Tiger.

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The Pennsylvania Gaming Control Board (PGCB) has granted an Interactive Gaming Manufacturer Conditional License to NetEnt, through its subsidiary NetEnt Americas limited liability companies (LLC).

Pennsylvania represents the second large US state for the regulation of online casino, and the state has a long tradition of gambling, according to the press release sent to BM.

Therefore, NetEnt has signed customer agreements with several gambling operators in the state and had been preparing to launch its games.

“I am very pleased that the market in Pennsylvania has now opened. We are one of the few online casino suppliers offering our games right from the start, and I am convinced that our award-winning online casino games will be much appreciated by players in Pennsylvania”, said Erik Nyman, Managing Director NetEnt Americas LLC.

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Through the deal that NetEnt tags as another step in increasing its footprint in New Jersey, a large selection of its casino games will launch in the upcoming weeks, becoming available to Draftkings players.

“We are very excited to have landed a deal with DraftKings. As the world leader in fantasy sports, with a large player base they will add a new dimension to the market and we are confident that their players will enjoy our popular games,” said Erik Nyman, Managing Director NetEnt Americas LLC.

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NetEnt earlier announced it had signed customer agreements with several gambling operators in the state and is preparing to launch its games as soon as the market opens, according to a press statement by the company. A formal market opening date has not yet been announced by the PGCB, however.

“We are very pleased to be in the first round of approved vendors to conduct online gaming in Pennsylvania. This fits well with our strategy to be live with our products on the first day of market opening,” says Erik Nyman, Managing Director of NetEnt Americas LLC.

NetEnt also signed an agreement with Parx Casino in Pennsylvania, as Business Malta earlier reported. NetEnt games will be delivered via the GAN platform.

In October 2017, the Pennsylvania state legislature approved a bill that allows online casino gambling. The state has a long tradition of gambling on the land-based side.

Pennsylvania is the second US state to regulate online casino, and with almost 13 million people, it is the fifth largest state by population.

NetEnt Americas LLC is a US subsidiary of NetEnt AB, providing gaming solutions to online casino operators. NetEnt is listed on NASDAQ Stockholm (NET–B) and employs 1,000 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey

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NetEnt, through its subsidiary NetEnt Americas LLC, applied for a Casino Service Industry Enterprise license in the US state of New Jersey in 2015. In September 2015, NetEnt obtained a transactional waiver by the NJDGE, granting the right to supply online casino games in New Jersey while the full license application was being reviewed. NetEnt in February received its first online gaming license in the US issued by the NJDGE.

“We are very pleased to obtain our first permanent online gaming license in the US. We have been present in New Jersey since 2015 and have supported the regulator throughout the licensing process. The license marks yet another step in our US expansion as we hope to enter additional states if and when they regulate online casino,“ says Erik Nyman, Managing Director of NetEnt Americas LLC.

NetEnt Americas LLC is a US subsidiary of NetEnt AB (publ). NetEnt is listed on NASDAQ Stockholm (NET–B) and employs 1,000 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey.

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NetEnt says it is working hard on the preparations of entering the regulated market for an online casino in Pennsylvania, which is expected to open soon. The agreement with Parx Online in Pennsylvania is the third agreement for NetEnt ahead of the market opening.

Following the opening, NetEnt will have slot games and table games available at Parx Online, operated by Greenwood Gaming and Entertainment Inc, who also manage Parx Casino, a horse racing venue and the largest casino gaming complex in Pennsylvania.

“Parx is a household brand in the gambling community in Pennsylvania. I am very excited that we have secured this important agreement ahead of the market opening. I am certain that Parx players will enjoy our games and unique features and that our tools will help Parx grow their business within online casino”, says Erik Nyman, Managing Director at NetEnt Americas LLC.

“We are looking forward to expanding the Parx Casino offerings into the online world. As part of this, we’re excited to be able to offer NetEnt’s outstanding suite of game content as part of our online casino launch in Pennsylvania”, says Matthew Cullen, SVP at iGaming and Sports, Parx Casino.

NetEnt Americas LLC is a US subsidiary of NetEnt AB (publ). NetEnt is listed on NASDAQ Stockholm (NET–B) and employs 1,000 people in Malta, Stockholm, Kiev, Krakow, Gothenburg, Gibraltar and New Jersey.

Parx Casino is owned and operated by Greenwood Racing, Inc. Parx features over 200,000 square feet of gaming; 3,270 slot machines and 148 live table games; 40 poker tables; live racing and simulcast action.

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The most recent reregulation was preceded by years of planning and takes place in an environment where Norway and Finland appear to hold strong gambling monopoly. Marching in the footsteps of Denmark, Sweden seems to open up its iGaming industry for private sectors, with the new legislation.

Under the new Swedish gambling law (SFS 2018:1138), companies are due to pay 18% tax for commercial gaming, a 0% tax rate applies for non-profit gambling activities, six different license types are available with prices varying from SEK 400,000-700,000 (roughly €38,200-€66,900), and an 18+ age limit is set for online gambling while a 21+ age limit applies to enter a physical casino, according to a report by gambling.com.

The new legislation is expected to create a safer market, improve consumer protection and game security, as well as provide clear market conditions. In the new environment, players can pause their accounts nationwide with a single action, as well as control tightens over illegal gambling activities.

All eyes on Malta

Malta is home to a handful of international iGaming operators and software providers, who are based in Sweden but carry out the bulk of their operations in the tiny Mediterranean island, so much so that Malta is often referred to as an iGaming hub.

The sector directly accounted for 11.3% of Malta’s gross value added — more than €1.1bn — in 2017 according to NSO statistics, after the country was the first to regulate the market in 2004. In 2017, the watchdog Malta Gaming Authority (MGA) issued a total of 165 new remote gaming licences, according to a report by EY in 2018.

Malta has seen the presence of Swedish software providers NetEnt, Evolution Gaming and Play’n GO, as well as casino operators Mr Green, Unibet, and Leo Vegas. These iGaming giants all have roots in Sweden but are also registered and therefore have operations in the island country. As a result, attention has risen over the market to see how the re-regulated Swedish environment would affect the sentiment in here.

The Maltese iGaming sector also needs to keep an eye out on Spain that has recently approved a remarkable tax cut of 5% for iGaming operator revenues. Gaming Innovation Group (GiG) and LeoVegas have already targeted the market by announcing expansion over there.

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