News recently broke of NetEnt's entry into the state of Pennsylvania. As the latest US state to draft comprehensive gambling regulations for online gaming, Pennsylvania granted an interactive gaming manufacturer conditional license to NetEnt Americas LLC. The decision to issue a conditional license was approved in March 2019 by the PGCB (Pennsylvania Gaming Control Board).
Pennsylvania's population of 12.8 million people places the state high on the list of coveted markets for online gaming companies. It has the fifth largest population in the US, and is the second biggest regulated online gambling market after New Jersey.
NetEnt managing director, Erik Nyman was elated about the company's prospects in the newly regulated state of Pennsylvania. NetEnt is a leading provider of online casino games. These games are notable in that they offer movie-style 3D animation, interactive elements, and high-quality in-game features.
Online Gaming from the Get Go
NetEnt enters this new market ahead of the competition, with games available to legal-age players from the get go. NetEnt's challenging business environment in Nordic markets are likely to get a big boost from entry to the lucrative US market in Pennsylvania. Operations in Sweden have been declining owing to lower ARPU and fewer players, resulting from new regulations.With year-on-year declines of 3% down to $32.9 million (SEK 837m), NetEnt is looking to its US operations to boost revenues.
Already, NetEnt has partnered with multiple gambling operators in PA for a rapid rollout of its popular online casino games. In April 2019, NetEnt signed with DraftKings – a leading online sportsbook operator in the US.
NetEnt Americas LLC is the US subsidiary of NetEnt AB. Established in 1996, NetEnt has achieved pioneer status in the online gaming market, thanks to its innovative gaming platform and growing base of customers. NetEnt currently offers 200+ online casino games, and in 2017 alone the company managed 41.2 billion gaming transactions.
NetEnt currently employs a team of 900 people at its Malta, Kraków, Gibraltar, New Jersey, Kiev, Gothenburg, and Stockholm operations. The company is listed on the NASDAQ Stockholm (NET-B).