NetEnt Acquires First US iGaming License

In what can only be described as a historic move, NetEnt – one of the world’s leading iGaming industry suppliers of software and gaming solutions – are finally entering US soil!

The announcement came this week after an official press release was published by the Swedish company saying that the New Jersey regulator, Division of Gaming Enforcement (NJDGE), granted them a permanent online gaming license.

The End of a Transactional Waiver

Although NetEnt has been present in New Jersey for quite some time (since 2015), the esteemed brand was only able to conduct business via a transactional waiver approved by Division…

…However, the acquisition of Casino Service Industry Enterprise license means that this developer that is already one of the staples of the entire industry will only now officially begin its US odyssey.

Their application for the Casino Service Industry Enterprise license was formally submitted by its subsidiary, NetEnt Americas LLC. NJDGE approved the use of a permanent transactional waiver while the full license application was under review.

The waiver also permitted company to supply New Jersey operators with their games – including some of the recent blockbuster additions like Turn Your Fortune, an homage to Ozzy Osbourne and a future movie-inspired hit – Conan.

More States Incoming

NetEnt Americas’ Managing Director, Erik Nyman, was content and brief:

“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 ed 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.”

His words ring true and the basis for them can be found in one of the most recent business ventures…

…Namely, the g of a contract with Pennsylvania-based Parx Casino regarding the eventual supplying of entertainment titles to their GAN-powered online casino.

Seeking Betterment While on Top

Commenting on this partnership, Nyman stated that, as a household brand in Pennsylvania, Parx is the best possible partner ahead of market opening and that he is certain their players will appreciate NetEnt games and unique features.

The company has just come off their annual financial review that revealed an 8.9% year-on-year growth in revenue…

…but also a slight drop in profits due to staff and personnel expenditures. CEO, Therese Hillman, touched briefly on the subject of delayed Pennsylvanian market, citing it as a possible cause for caution, and saying that company’s ambitions for organic earnings have grown since last year.

“We do not see any reason to reconsider our US growth plans, which include growing on the regulated markets in New Jersey and Pennsylvania,” she said.

Source:

“NetEnt granted permanent license by the New Jersey Division of Gaming Enforcement”, netent.com, February 18, 2019.