Casino gaming group Enlabs announced today that they're planning to purchase a Belarus-based land betting group, although they suspiciously decided not to name the company.
The company signed a letter of intent to purchase the business and said that the move is strategically important for the company's foray into the Belarussian market, which regulated the online betting industry beginning on April 1st. In order to enter the Belarus online market, operators will need to have more than $1 million in funds available as well as several years land experience. This purchase will help them meet those requirements.
Speaking about the purchase Enlabs CEO Robert Andersson said, "Entering the Belarusian market is important for Enlabs' continuing growth journey. We have long experience and knowledge from neighbouring markets and are firmly convinced of our opportunities to succeed in Belarus as well, a country in terms of population roughly the size of the Baltic states and with a total gaming market worth over five hundred million euros.
"The proportion of online gaming is relatively small at present, but we see great similarities to how the Baltic markets looked a decade ago. We expect a strong growing market where we look forward to being a leading player.
"The acquisition is fully in line with our strategy to focus on 'the Baltics and Beyond' and work on the licence application for online gaming will begin immediately."