NetEnt's USA Entry – The Whole Story
Developers of games are the lifeblood of the casino sector online, as they keep it fresh and new. Over a decade ago, the success of the business saw different developers enter the market to offer the newest gaming options to attract players new and existing. Yet, it's just a handful of companies that make it to the very pinnacle and are responsible for ensuring online casinos with entertainment options that have been groundbreaking in terms of appeal. These firms have set the standard for the success of online casinos and kept astounding the business community in terms of performance and returns. Based in Sweden, NetEnt is currently among the best game developers in the world.
Their games, consisting of the various games and game solutions, find their place in most of the top online casinos. The company started 20 years ago, and since then, has become a name to reckon with in the industry. They have, decades after decades, been industry leaders, revolutionizing games, again and again. NetEnt slots, for example, are enjoyed by thousands of players every day and give contributions for three-fourths of the company's yearly revenue. Gonzo's Quest and Starburst are among their most iconic games within this genre that have been incredibly lucrative for players.
Also, the company has been rewarded with a plethora of awards throughout the years, among their counterparts for continued service to the industry. But NetEnt's path to success hasn't been a smooth one. Patience and diplomatic commerce are the reasons the company remains reigning supreme in Europe. But it is their move into the US market that is most interesting. A move that has proved very profitable, NetEnt recently announced that their overall progress is the direct result of their US ties.
The Initial Problems
It was when problems for the entire online gambling industry started in the USA. From the time the Unlawful Internet Gambling Enforcement Act came out, it became impossible for both casinos and game developers, especially the off-shore casinos, to operate within the country. As a result, they all moved and channeled their resources into the European market, which thrived during this time.
On the United States side, the bill that George W. Bush had signed into law was not controversy-free.
With the exception of the few states that were clearly aware that internet casinos were likely to yield a fair amount of revenue increase, the majority of states were interested in legalizing online gambling again.
Unfortunately, politicking seems very slow. Several states have tried to legalize online gambling but failed for one reason or another. As a matter of fact, it wasn't until that New Jersey finally started opening to online gaming, eight years after the law was published. The First Step Back When the movement to legalize online casinos picked up, NetEnt lost no time and entered the picture. One of the first things it did was enter into a deal with UK gaming operator based Game Account Network Plc, or GAN. But that was for simulated games. NetEnt wanted to kill two birds with one stone.
As the laws and regulations of online gambling were being formulated in New Jersey, NetEnt was already making waves among the masses.
Mock games are based on a no-cash system, and players spend real money on virtual currency which can be spent in the games.
It did not make financial sense for NetEnt. However, via this channel, NetEnt was in a position to show US players the diversity in their games, and make them accustomed to spending money once it was officially allowed. In addition, via GAN, Netent slots would form part of online casinos that were operated by land-based casinos. Therefore, when remote gambling was thriving worldwide, the game developer was able to expand its base exponentially. By being open to gambling enthusiasts, who tended to prefer the real thing, it was able to signify that there existed a whole other world for them in a world of virtual reality.
Furthermore, not only was this world of virtual reality as profitable, but it came with benefits like convenience, extra bonuses, and other games to be played. A risk estimated at the time, to penetrate the US market in this way would eventually turn out to be of the highest significance for the company. NetEnt was, by virtue thereof, in a position to separate their brand and construct an individuality which later came in handy when regulated online casinos started appearing soon thereafter.
Dominating the Market As soon as the market opened up to address the online casinos, late one time, NetEnt was ready to go out swinging. They started by aligning themselves with GameSys US, who ran two of the more popular online casinos. Although all the fuss had been about New Jersey casinos at this point in time, NetEnt was on a roll, and went on to secure another similar arrangement, with Resort Casinos.
It was then that two important things happened to NetEnt. Firstly, they struck a deal with Caesars Interactive Entertainment. This time, however, CIE bought the whole portfolio of the company, which resulted in US players, for the first time ever, being able to play every single game that the developer had in its collection.
The Future
The future of NetEnt is the USA, and Canada, as a consequence, is nothing but promising.
Not just are states welcoming the idea of gambling, but there are cases where they are taking their decisions closer to going early.
An urgency for tax income is an inspiration behind this move, which will eventually offer NetEnt games to a whole lot of more US players, bringing in more incomes for the company.
Honestly, having a strong and well-established reputation in the industry has its advantages. And as soon as things open up a little further, NetEnt can expect online casinos clamoring for their games.