A leading game provider, a favorite of many Canadians, NetEnt begins layoffs of hundreds of employees. As a result of acquisition by Evolution Gaming, NetEnt shut down its live casino studio in Qormi. For some players in Canada, this news might seem disappointing. But what are the reasons for acquisition? Is it the end of the NetEnt operation? Will we ever play new games by our favourite provider? All this in today’s article.
Evolution acquired NetEnt, and right after that the company sent its employees home to expect further instructions by email. No one says how many employees were laid off, but the number is estimated in the hundreds. Helpfully, soon the Maltese government decided to help those who had lost their jobs.
Although three months ago NetEnt made an announcement that its studio in Qormi, Malta, would be expanding because of the high demand, Evolution representatives later said that the studio would be shut down. Then some employees would be redundant, which leads to inevitable layoffs.
In June, Evolution Gaming suggested the acquisition of NetEnt. The latter didn’t resist too much as the deal is worth $2.11 billion. Along with that, already in September, Evolution applied for approval from the Malta Competition and Consumer Affairs Authority to acquire NetEnt. Representatives of the Stockholm-based brand and the other shareholders supported the acquisition. So, this all went fast and easy.
If you’re not really into providers, here’s a little lead-in. The two major companies that provide the best games for online casinos in Canada are becoming one single organisation. Here is general information on each of them.
NetEnt provides one of the best gaming content in the online gambling industry. Its partners are the biggest names, including casino operators such as 888 Casino, Spin Casino. The company holds many licenses by the UKGC, Malta, Gibraltar, and so on. There are over 1000 employees who create terrific games for casino players in Canada and around the globe.
Evolution’s experience started in 2006. Through these years it has been growing as a provider of live casino games. Evolution games are the best in the category. We also recommend playing Evolution games if our readers want to have a real casino experience in the comfort of their homes. Its partners include 888 Casino, LeoVegas, MrGreen, etc.
The live games are being recorded live with real dealers who are professionals in their industry. Evolution has studios in Malta and Latvia. All games are compatible with computers and mobile devices such as tablets and smartphones. Finally, the company is licensed by the major authorities in the industry: MGA, UKGC, the Alderney Gambling Control Commission, Belgium GC, Romania National GO, and Canada BC.
What are the Reasons for the Acquisition?
Although Evolution Gaming is already a leader in the industry, its ambitions won’t cease. But why is it so crucial for Evolution to buy NetEnt? There are a number of reasons for it. Let’s discuss the major of them.
Leading the Gambling World
It’s commonplace that NetEnt games are some of the best in the world. It provides mostly slots, including progressive jackpots, but the company also developed other directions like live dealer games, and table games. Whereas, Evolution is a supplier of live games only. However, the majority of casino players prefer slots over live dealers, that’s why Evolution is so ambitious about the merging. Most probably, the desire to “rule” the world of gambling is now the priority for the company.
Eliminating a Competitor
As NetEnt has been also making live casino games, it is a tough competitor for Evolution. Buying the company with the talented professionals and removing the live casino studio is a smart decision of Evolution.
Besides, NetEnt live content is pretty different and sometimes even better than that of Evolution. Add here the slot machine collection that Evolution doesn’t have. As a result, the company will upgrade its collection and grow its brand even more.
Top Games Collection
NetEnt has over 200 slot machines and as many card games. They all are distributed over hundreds online casinos across the globe. Every online casino desires to get a NetEnt license because its games are always on top.
What Will Be With NetEnt?
Perhaps the most interesting question now is the future of NetEnt. Will Canadian players continue enjoying the best games? And will there be new slots by NetEnt?
Truth be told, the new company will work as a single organisation. It will bear the name of Evolution, but the gaming products will be offered under the four brands. They are Evolution, NetEnt, Red Tiger, and Ezugi.
However, because of the acquisition, NetEnt and Evolution have been working under the Evolution name. NetEnt will be reorganized and have some structural changes. It mainly refers to business optimization, slot machines development, closure of the live casino department of NetEnt (probably because there’s only one live dealer provider — Evolution). The new company owner mentioned that the commercial support will also undergo changes.
Evolution will continue offering the top-notch products while the CEO of NetEnt, Therese Hillman, will work on the integration of the two companies in the next few months. However, before the first quarter of 2021 Hillman will probably leave the company.
Starting to play at casinos online, you should understand how the financial part works in terms of transactions of deposit and withdrawal. Each casino has its own regulations and banking terms. In order to find it out in a particular casino, read the terms in the corresponding field. However, the general payout rules at all the casinos are as follows:
- Go to your account and find the withdrawal option next to the balance.
- Select a preferable payment method and click to proceed.
- Send all the required banking information so a casino could verify your identity.
After you have made all the necessary steps, you have to wait some time until they work through your request and send money to the chosen card or e-wallet. The receiving part also takes some time to check the transaction details. That is why the payout period takes so long, sometimes weeks. Only after everybody is satisfied, you get the money to your financial account.
Tips to Avoid Withdrawal Problems
We have prepared some tips for you to avoid troubles and lessen the pending period.
- Check the terms ALWAYS. You have to find information about payout methods, including the fees and waiting time of your selected method.
- Search for security information both on the casino site and your selected payment method account.
- Make a separate payment method (card, e-wallet, e-check, etc.) for gambling only. Thus, you can save at least a part of your money in case the security system crashes. Or it can save you from spending too much on online games.
We hope now you understand the process better, so make sure your casino is legal, check the terms and security info. Do not be shy to send your private data to the casino, otherwise, they just will not pay you.
As a Canadian citizen, you don’t need to pay taxes on winnings in your country. But if you travel to the US and specifically to Vegas city, things are different. You will have to pay tax on your winnings over US$1,200. The 30% of your winning will be automatically deducted when you go to cash out.
Typically, if you simply join a casino site and play games for real money, you are already a member of its loyalty program. Most online casinos reward you with loyalty points every time you place a bet. So, you don’t need to worry about how to join the program. However, there are sites that offer VIP clubs for high-stake players. Casinos send them invitations to email. In this case, you will need to do special things like bet more on games and claim bonuses to the maximum.