Netent exiting CEO
06
04.2018

CEO Therese Hillman replaces Per Eriksson

By Sophie Couard

Per Eriksson is being replaced by acting CEO Therese Hillman until a new CEO is found.

To increase the focus on long-term growth for Netent, the Board of Directors have decided to immediately replace Per Eriksson with acting CEO Therese Hillman. They have started a recruitment drive to find a permanent replacement. Netent is a leading developer of software for casinos producing both slots and casino games.

Underperforming segments a drag on profit and revenue

The move was made after the Board decided that while parts of the business are growing well, others are underperforming. They believe that Netent still possesses significant upside potential with the migration of gaming from offline to online. Per Eriksson led the company into new markets like the United States as part of its expansion but as recently as last autumn (Fiscal Q4) the company warned investors that it would not meet revenue and profit targets. Per Eriksson, CEO since 2012, leaves behind a strong balance sheet and brand.

per eriksson netent

Netent

Parts of Netent's business have been underperforming resulting in target misses in revenue and profit.

The Industry that Netent operates in is dynamic and in a constant state of flux. Only days ago we wrote that Netent was planning a gradual exit from the French market, which has meant casinos that accept players in France will be forced to withdraw Netent games. This has meant that some of our own recommended casinos like Lucky8 and Cresus Casino have had to scramble to replace the void created with other developers like Betsoft, Evolution iSoftbet and Quickspin. What the future holds for Netent and the industry no one knows, but we will continue to monitor its evolution and report the outcome.

By Sophie Couard
By Sophie Couard - EDITOR

I am a great fan of gambling, I became a croupier to finance my studies. After my high school diploma in economic and social sciences , I obtained a bachelor's degree in economics and then a master in philosophy with a thesis on player behavior. After working in an online casino customer support, I became a writer on FeedBack Casino.