The online casino industry is one of the toughest in the world, and even those at the top of the very biggest companies are not safe, as proven by former NetEnt CEO Per Eriksson’s recent stepping down from his position. At the head of the company, Eriksson was well-respected in the industry, having led NetEnt through many great periods and spearheaded many exciting evolutions for the company. Unfortunately, things changed, and it was considered the right decision for Eriksson to leave.
Drop in profits
The recent announcement of the financial results for the fourth quarter of 2017 saw profits for the company had fallen by 3.9% year-on-year. It was this reduction in profits that proved to be the toll of the bell for Eriksson, who was asked to step down by NetEnt’s board of directors. The board has stated that they are looking to fill the role with someone with a commitment and vision that will lead to long-term growth. While this person is being found, CFO of NetEnt Therese Hillman will act as interim CEO.
The history of Eriksson
Per Eriksson has been a very public leader of NetEnt since he took the role of CEO back in 2012 and succeeded in making many big steps forward for the Swedish developer. Eriksson took the company into the US market for the first time when regulations and laws were relaxed in certain states, and his unique approach to business has seen NetEnt follow that by moving into various global markets. However, recently there has been more than a few negatives, including NetEnt having to step out of markets in Australia, Czech Republic, and Poland, something that is seen as high on the list of reasons for the drop in profits that NetEnt suffered last year.