NetEnt Calls for Major Improvement to Swedish Licensing Requirements and Enters Swiss Market

NetEnt Calls for Major Improvement to Swedish Licensing Requirements and Enters Swiss Market

Staff Writer
April 13, 2020
949

NetEnt has declared that a B2B licensing system should introduce a change in Swedish licensing. Primarily, the alterations should deal with fairer conditions and a higher channelization rate.

False Friends

In the past year, the regulated Swedish market went through some key changes. As a result of those, many software providers had to adapt, much to their dismay. It affected the entire sector in a not necessarily positive way

For NetEnt in particular, the alterations meant a lower channelization rate. The new regulations posed a ban on bonuses for existing players. So the revenue decrease in Sweden negatively impacted NetEnt’s total revenue for 2019. This was quite a shock, knowing that Sweden had previously been the largest market for NetEntertainment.

Therese Hillman, group CEO, explained. “Under the new regulations, it is illegal to play at unlicensed operators or offer uncertified games. But suppliers are not subject to a licensing requirement.

“We would welcome the introduction of B2B licenses since this would raise the demands on us and our competitors.”

Hillman saluted the initial intentions, made stated that they had been executed in a wrong way. Thus she hopes new changes will come and boost the channelization rate.

In the Meantime

Moreover, NetEnt is focusing on sustainability. Recently, the company integrated Red Tiger aiming to boost efficiency. Sustainability is expected to be “a key factor in ensuring that [they] can continue to grow and create shareholder value for years to come”.

Additionally, NetEnt seems to have cemented its reputation as a live casino supplier on the market. The influx of competitors has begun to subdue, which just aided that venture.

As for America, Pennsylvania opened its virtual doors to developers in July 2019. NetEnt thus launched their games in the region from the get-go.

“We are waiting for more information from Michigan. We intend to enter that market as soon as it opens, which is expected to happen in 2021.”

Good News

Last week, NetEnt declared that the company has entered the regulated Swiss gambling market. Prior to the official entrance, the Stockholm-listed company had obtained the relevant ISO certification.

Henrik Fagerlund, Managing Director of NetEnt Malta commented,

“The ISO 27001 certification is an important acknowledgment for us and is the result of dedicated and hard work from our team.”

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