NetEnt Set to Bloom in the Garden State and Beyond

March 9th, 2016

SHARE

NetEnt Set to Bloom in the Garden State and Beyond

NetEntertainment is looking to strike gold by exploring new frontiers in the US iGaming market after agreeing deals with some major casino operators. Despite the US regulatory landscape remaining in a state of uncertainty, NetEnt's CEO Per Eriksson believes his Stockholm-based company can become a force in the US after it received its transactional waiver (essentially a licence to offer iGaming products) from New Jersey's Division of Gaming Enforcement.

For those with their finger on the pulse of US iGaming regulation, the road has so far been a long and fractured one. Although a number of states, including California and New York, are in favour, they have yet to finalise any concrete plans. As it stands, three US states have regulated iGaming – New Jersey, Nevada (home of gambling mecca, Las Vegas) and Delaware – and software supplier NetEnt is now able to offer its range of products to the state's active operators.

Worth the Wait

Talking to CalvinAyre.com, NetEnt North America's managing director Bjorn Krantz explained that the company's New Jersey efforts started back in 2013, when the state first regulated iGaming. However, owing to the iGaming economy's relatively slow rate of growth, as well as a general reluctance to partner with European operators, it's taken until the start of 2016 for it to earn a transactional waiver.

"We've been scouting around in the US and North America for quite some time," said Krantz.

With a deal now in place, however, it's full steam ahead as the company looks to offer casino gaming software, such as its high profile Guns N' Roses slot game, to New Jersey sites such as NJ partypoker, US 888 Casino, WSOP.com and Betfair's US platform.

Part of NetEnt's confidence ahead of its move into the US is an increase in profits of more than 50% in the last year. According to the company's latest financial reports, its shares have doubled in the last 12 months and it now has a market value of close to $2 billion.

The Land of Opportunity

Although this rate of growth is almost impossible to maintain, there's a definite opportunity to expand in the US market. As it stands, companies such as Dragonfish provide software provisions within the Garden State; however, with a well-respected stable of casino games to offer, including live dealer casino games and progressive jackpot slots, NetEnt could become a major player in the market. In fact, if it can match the 30% coverage it enjoys in Europe, it could become one of the state's top software suppliers.

Moreover, with PokerStars set to go live in New Jersey on 21st March, it may well want to extend the deal it currently has in place with NetEnt's European axis in order to provide more online casino games alongside its poker product. With European software companies often shunned by state regulators and operators, the fact NetEnt is now a member of the Garden State's iGaming economy could mean it's set to bloom in the coming months. While there is certainly a long way to go until the US is a fully open market, NetEnt's recent moves in New Jersey are a testament to its growing influence in the industry.

Casino News Articles


UK Player Takes Home £6.2m on £1.25 Spin

Winning over £6 million from a bet of just £1.25 sounds like something that would only be possible in a lottery game, or in your dreams... But that is exactly what one lucky punter from the UK managed ... Read More

Will President-Elect Trump Legalize Online Gambling in the United States?

He may be the man responsible for one of the most fractious presidential campaigns in recent memory, but will Donald Trump finally take a stand on the US online gambling debate? The polarising Preside ... Read More

Make Christmas Great Again by Doubling Up with Guts this Weekend!

"Make Christmas Great Again" this weekend by doubling up the amount of gifts you receive from Guts' with their Double Speed Weekend! To help promote their daily giveaways and WishList Gifts, Guts Casi ... Read More

Don't Miss Yggdrasil Gaming's €200,000 Christmas Calendar

Yggdrasil might have a quirky name but they also tout excellent producers of only the finest online casino games. Those minds are certainly getting into the Christmas spirit nice and early too; Yggdra ... Read More

Check Out Mr Green Casino’s £350k Christmas Calendar

So what does Mr Green’s casino have in store with the £350k Christmas Calendar? It’s the best advent calendar a punter could wish for, for not only does it offer more than tiny titbits of chocolate ev ... Read More

William Hill Back Up and Running After DDoS Attack

Last week punters hoping to wager on the Champions League at William Hill found themselves flummoxed and unable to access the bookmaker’s site for days following a distributed denial of service (DDoS) ... Read More

Casino Navigation

Newsletter

Sign up for the free Gambling.com Newsletter to stay on top of all the best bonuses!
We will never share or misuse your personal information. Privacy Policy

Latest Casino News

Casino Guides

Country Guide