Industry News
NetEnt integrates Red Tiger to realize further synergies
To further strengthen competitiveness and increase efficiency NetEnt is implementing changes in the organization and a full integration with recently acquired Red Tiger. The changes mean a reduction in the workforce by approximately 120 employees, mainly in Stockholm.
NetEnt has previously communicated its ambition to integration further with Red Tiger, which was acquired in September of 2019. The acquisition has exceeded expectations and offers significant potential synergies, increased efficiency and economies of scale. A restructuring is now being implemented to speed up the full integration within the NetEnt group, which means that several functions are relocated and that 120 full-time positions are made redundant in Stockholm and Malta.
These measures are in line with NetEnt’s strategy to continuously improve all parts of the business to strengthen competitiveness and increase value creation in the company. The restructuring is estimated to result in annual savings of approximately SEKÂ 150 million on a cash-flow basis, beginning in the second half of 2020. This means that NetEnt is increasing its initial estimate of potential synergies from the acquisition to around SEK 250 million annually (from previously announced SEK 150 million per year).
Restructuring costs are expected to amount to approximately SEK 25 million, which will be reported as non-recurring items and affect operating profit for the first quarter of 2020.
Today, NetEnt also announces that the earn-out consideration for Red Tiger will be redeemed through a directed issue of new shares and cash payment. For more details, see separate press release. Since this financial liability item was previously reported using the discounted net present value, the early redemption leads to an increase in financial costs of approximately SEK 35 million in the first quarter of 2020. This amount does not affect the cash flow. Following the rights issue, the company’s net debt will decrease by 100 MSEK.
The effects of COVID-19 are difficult to forecast, and conditions change rapidly. However, NetEnt’s operations have so far not been negatively affected by the pandemic outbreak. Revenues for the NetEnt Group have developed in line with market expectations during the first quarter of 2020 and are expected to be in the range of approximately SEK 490-500 million.
“We are now entering the next phase of the integration with Red Tiger, whose sellers are also becoming shareholders of NetEnt. The integration will unleash the full potential of our shared capabilities, create significant efficiency gains in games development and strengthen our position as the market leader in online casino,” says Therese Hillman, Group CEO of NetEnt.
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The latest AskGamblers Complaint Service report for 2024 has officially been released. The comprehensive report highlights the most important accomplishments and records of the AskGamblers Complaint Service team for the previous year.
In 2024, The AGCS team (formerly known as AGCCS) managed to return $6,890,547.11 to players. Over 7259 players turn to AskGamblers, submitting complaints against 1114 casino brands. Out of all the accepted and processed complaints, the team had a 68% resolution success rate. One of the notable milestones that reached was returning a total of $70 million to the members.
Dijana RadunoviÄ, General Manager at AskGamblers, said: âItâs amazing to see the trust players put in us year after year, and weâre able to repay them by helping them recover their funds from operators or solve other related issues. Weâve had another successful year, with a few records broken and amazing milestones achieved and we canât wait to see what lies in store in the years ahead.â
The post Players Reclaim Close to $7M Through AskGamblers Complaint Service in 2024 appeared first on European Gaming Industry News.
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SlotsCalendar, a leading name and tastemaker in iGaming, has announced the second edition of the SlotsCalendar Awards. Winners will be announced during the iGC Malaga event in May 2025.
These awards are rapidly gaining significance in the iGaming world as SlotsCalendarâs steady growth, success, and player-centric mentality represent the communityâs interest.
Players have approximately a month to vote between the 10th of April and the 12th of May.
For its 2025 edition, the SlotsCalendar Awards Gala returns to the iGaming Club Conference in Malaga, happening on May 28th. The Awards categories for this year are as follows:
⢠Game Studio of the Year
⢠The Slot Everyoneâs Talking About
⢠Star Slot in the Making
⢠Casino of the Year
⢠Excellence in Bonus Variety
⢠Industry Standard in Responsible Gambling
⢠Live Casino of the Year
⢠Best Sports Betting Platform
⢠Best New Casino
⢠Best Crypto Casino
While the idea of iGaming Awards is not new to the industry, the SlotsCalendar Awards are unique for a simple reason: winners are voted by players from the entire iGaming community.
The uniqueness of these awards makes them particularly important in iGaming. Placing the decision-making strictly in the hands of the player is a fundamental shift in the iGaming community.
SlotsCalendar CEO Viorel Stan said: âItâs truly an honor and a privilege to see how our SlotsCalendar Awards have evolved. Last yearâs inaugural edition was a crowning achievement for us. It proved how vast and involved our community is, creating a level of engagement that made us incredibly proud. Being able to return to the iGC and reward some of iGamingâs luminaries in the name of the SlotsCalendar Community is beyond gratifying.â
The post SlotsCalendar Announces its Second Awards Edition at iGC Malaga 2025 appeared first on European Gaming Industry News.
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DigiPlus Interactive Corp. (DigiPlus) has won seven honours â including five coveted gold awards â at the 2025 Asia-Pacific Stevie Awards. This milestone places DigiPlus among the most awarded companies in the region this year, spotlighting its strategic growth and transformative impact across digital entertainment, social development and investor relations.
The Asia-Pacific Stevie Awards are the only business awards Programme that recognises innovation across all 29 markets in the region. Widely regarded as the worldâs premier business awards, the Stevie Awards represent a prestigious recognition of business excellence.
DigiPlus bagged five Gold Stevies for âInnovative Achievement in Growthâ, âInnovation in Investor Relationsâ, âExcellence in Social Impact Companiesâ, âInnovation in Annual Reportsâ and âInnovation in Corporate Websitesâ. The company also clinched Silver and Bronze Stevies for âAchievement in Product Innovationâ and âInnovation in Brand Renovationâ respectively.
At the core of these wins is DigiPlusâ commitment to innovation and digital transformation. From redefining the player experience through localised and immersive content, to launching a refreshed brand identity that resonates with a more connected and tech-savvy user base, DigiPlus has embraced a future-forward mindset. The companyâs calculated investments in big data, cutting-edge technologies and stakeholder engagement have not only fueled business growth, but also opened inclusive pathways to digital participation through its social development arm, BingoPlus Foundation.
âThis momentous victory at the Asia-Pacific Stevie Awards affirms DigiPlusâ emergence as a true powerhouse of innovation and progress, reshaping industry boundaries and redefining digital consumer engagement on a global scale. Through consistent growth and business performance, DigiPlus reaffirms its unwavering commitment to creating long-term value,â said DigiPlus Chairman Eusebio Tanco.
Winning entries in the Asia-Pacific Stevie Awards undergo a rigorous, multi-layered evaluation by an esteemed panel of judges composed of business and industry leaders across the region.
âThe 12th Asia-Pacific Stevie Awards received an impressive array of outstanding entries. This yearâs winners have clearly shown their dedication to innovation, and we commend their resilience and imaginative efforts,â said Maggie Miller, President of the Stevie Awards.
The post DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards appeared first on European Gaming Industry News.
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