NetEnt: A Brief History

NetEnt has been at the forefront of the casino software industry for over 2 decades now. Ever since it was established in 1996, it has successfully remained ahead of its peers, providing operators and players alike with high quality online and now mobile casinos. The company is based out of Sweden and today provides a complete suite of products and services to casino operators from across the world.

NetEnt’s software and services are used by over 100 casino operators worldwide. The guarantee of excellence that the company has associated with its brand has been a big driver in its expansion from a software provider from the 1990s into a global powerhouse in the online and mobile casino industry today.

Casinos By NetEnt

A Brief History of NetEnt

NetEnt may have been established in 1996 but its history goes back much further. In the 1970s, Cherry was one of the leading land-based casino operators in Sweden. Cherry had to modify its operations when the Swedish government issued a ban on slot machines.

Cherry reorganized its business to a large extent to adjust to the changed environment.

  • In 1984 it acquired a number of former gaming companies from Sweden. This was its first step towards forming a new group.
  • From 1986 to 1991, it provided slot machines to different East European countries.
  • In 1992, two things happened:
    • Cherry decided to either trim or close its East European operations.
    • The Internet came about, giving Pontus Lindwall the idea of migrating operations to the Internet.
    • In 1996, Pontus Lindwall founded NetEnt and got Cherry and Kinnevik to invest in it.

The Journey Ahead

NetEnt spent the initial days in developing games, many of them video slots, for the online market. The strategy for getting new clients on board was simple:

  • Develop a wide range of games, which allowed operators to showcase not just poker games but also video slot games – games developed by NetEnt that were of high quality in terms of graphics and features.
  • Introduce the concept of the NetEnt Jackpot Network. This network gave players a chance to win big. The win amount could potentially be in thousands, if not millions.

The first NetEnt-powered casino was launched in 2002. It was the first step in a journey that has been relentless and enriching. Acquiring new clients steadily with each passing year, NetEnt got listed on the Stockholm Stock Exchange in 2009, another landmark year for the company.

There have been other significant landmarks as well – the opening of the first NetEnt live casino, the foray into mobile casino gambling, and more – which we will list a little later.

NetEnt Today

Today, NetEnt has come a long way from where it started off; but one thing has remained the same. It was an industry leader at the time it was established, and it continues to be one even today. Over the years, they have spread their wings and established a presence in multiple locations:

  • Sweden (Parent company office, manages technical development and infrastructure)
  • Malta (Product management, sales, IT operations, marketing, and customer support)
  • Gibraltar (General business)
  • Ukraine (Development work)
  • Poland
  • USA

With a team of over 700 talented developers and designers spread across these locations, NetEnt today develops and launches innovative new games regularly for their customers. A number of these games are also the result of extensive collaborations NetEnt has had with a number of big third party entities, including:

  • Universal Studios: Games like Scarface, Frankenstein, and Dracula
  • 20th Century Fox: Games like Aliens
  • Comedy Central: The South Park series of games

Now it is a big player in the mobile casino space as well, developing games on the NetEnt TouchTM platform.

A Brief Timeline of NetEnt’s Progress

NetEnt has grown at a tremendous pace over the years to overshadow a number of other well-known names in the casino software industry.

  • 1996: Company is founded in Sweden, Malta
  • 2002: First NetEnt casino is launched
  • 2009: NetEnt is listed on NASDAQ OMX and traded on the Stockholm Stock Exchange
  • 2011: NetEnt launches the first mobile casino game on the NetEnt TouchTM platform
  • 2013: NetEnt launches its Live Casino solution
  • 2014: NetEnt handles 21.4 billion transactions in a single year
  • 2015: NetEnt enter the US market