NetEnt was founded in 1996 and has its roots in the traditional casino world and what was then Cherryföretagen. In 1963, AB Restaurang Rouletter was founded by Bill Lindwall and Rolf Lundström. In 1968, a partnership was established with AB Roulett konsult & Spelautomater, founded by Per Hamberg and Lars Kling. The operations attained national reach and in 1972 the name Cherry was registered, with the cherry logo. After a couple of eventful decades, Bill Lindwall’s son, Pontus Lindwall, founded NetEnt in 1996. The company became a pioneer when online gaming started to take off in the mid-1990s and the first online casino was launched in 2000. In 2007 the company was spun off and listed on NGM Equity and in 2009 NetEnt moved to the main list of the Stockholm Stock Exchange.
A selection of milestones:
NetEnt CasinoTM is launched.
NetEnt delivers Casino Modules to several customers. The company’s sales grow sharply and the company reaches profitability.
NetEnt delivers a substantial number of Casino Modules to international customers.
NetEnt receives a gaming license in Malta.
NetEnt is spun off from Cherry and listed on NGM Equity.
NetEnt moves to the main list of the Stockholm Stock Exchange.
The game Gonzo’s Quest is launched and the company receives a Category 2 license on Alderney.
NetEnt launches mobile games for the first time and expands in Italy – a newly regulated market.
Several important agreements are entered, e.g. with Boylesports and Paddy Power. The Danish market is regulated and NetEnt obtains certification and launches games with several customers.
NetEnt enters agreements with a great number of entities for casino games, as well as a framework agreement with GTECH. Several important customer agreements are signed with gaming operators in the UK. Live Casino is launched among a number of customers, as are several mobile games.
A total of 31 new customer agreements are signed, including bwin.party, Betfair and Rational Group, as well as a collaboration agreement with platform supplier GameAccount Network. For the first time, NetEnt develops a game entirely in HTML5 – a standard for both desktop and mobile. Market capitalization overshoots EUR 1 billion at year-end.
Games are launched with several major operators in the US state of New Jersey. Local licenses are granted in the UK and Spain, where several operators are also launched. Danske Spil, the Danish state-owned gaming company, launches NetEnt’s games. For the first time, NetEnt games become available in land-based gaming machines, in William Hill’s betting shops in the UK. At the end of the year, the NetEnt share is moved up to the large cap segment of the Stockholm Stock Exchange.
NetEnt launches mobile live casino and becomes an associated member of the World Lottery Association (WLA). A full 39 per cent of revenues comes from mobile games. NetEnt enters the regulated markets in Romania, Bulgaria and Portugal. A VR demo is shown at ICE in London.
NetEnt enters the regulated markets in Mexico, Serbia and Czechia. A gaming license is obtained in British Columbia (Canada).
NetEnt launched games with Norsk Tipping in Norway and British Columbia Lottery Corporation in Canada. Customer agreements were signed with ATG, Svenska Spel in Sweden and Veikkaus in Finland. The company started its own affiliate marketing service and developed a product for social casino (play-for-fun app).