Internet betting group Entain (formerly GVC Holdings) has announced that they've submitted an offer to purchase Enlabs for £250 million.
The offer is submitted in cash, and would pay our SEK40 per share of Enlabs. The deal has been recommended by Enlanbs' board of directors, and 42.2% of Enlabs shares have also voted to accept the offer. This offer comes two months after Enlabs purchased Global Gaming, taking on the Ninja Casino, Optibet, and Laimz brands. The purchase would strengthen Entain's offering in the Nordic regions, and the company's goals are to strengthen its bonds in existing markets and striking out to new regions.
Commenting on the offer Entatin CEO Shay Segev said, "The acquisition of Enlabs is perfectly aligned with our strategy of expanding across new regulated international markets. We are hugely excited by the growth opportunities it presents both in its existing markets and through new market opportunities.
"Enlabs is already a strong and rapidly growing business in its own right, but we now have a fantastic opportunity to turbocharge its growth by leveraging the power of our unparalleled proprietary technology, scale, product and marketing expertise."
Enlabs' Board Chairman Niklas Braathen added: "When Entain's interest to acquire Enlabs emerged, we instantly saw the strategic logic.
"Entain's experience and track record in many different geographic markets, together with its market-leading proprietary technology and world-class marketing skills are key attractions for Enlabs as we look to grow in the Baltics and beyond."
This purchase is subject to approvals in different markets and will take some time to be completed. Casino Listings News is following this story and will update readers as developments arise.