Just one of many different tech firms in Stockholm, NetEnt is owned by a family Casino dynasty that has ruled over Sweden’s local gambling scene as well as international internet gambling scene.
Having recently signed contracts with casino operators in the US, UK and Spain, NetEnt is expanding themselves not only on online games and betting but within their company as well. Last year alone NetEnt profited more than 50% and doubled in share price, hitting a market value of $2 billion.
Proving they have what it takes, not only does NetEnt enter the US gaming market but has plans to position itself globally
The European market share of NetEnt is roughly 30% with CEO Per Eriksson claiming that the remaining 70% is for NetEnt to take over. His confidence doesn’t end there with adding that “the U.S. waiting for us and that is something we are looking for.”
Currently employing about 750 people, NetEnt, in a quest to find more programmers, will open offices in Krakow and Kiev. These movements only verify the intent of NetEnt’s growth in the online gambling market.
What Makes NetEnt So Sure About Themselves in Dominating the Whole Market?
NetEnt and other gambling companies have been trying to loosen US gambling laws and rules in the US market for some time. Now, with New Jersey being the first state to allow gambling online, NetEnt and other companies can only hope for a domino effect with ther states following suit.
The US with its strict gambling laws and state vs. federal legal system, are at the bottom of the online gaming world. Should the success of a nationwide initiative of online gaming in the US, there is an estimated $6-8 billion possible and speculated gross win overnight. A fine exchange for NetEnt.
Time is your Best Friend in the Online Gaming Market, NetEnt enters US gaming market at the right time
Should there be a steady spread of legal internet gambling in the US, state-by-state, it might be slow but still be very beneficial for all parties concerned. It seems that NetEnt has that patience and is here to stay.