Latvian Parliament Approves Invoice to Ban Playing Upkeep Debtors – European Gaming Trade Information
Reading time: <1 minute
The online gaming provider Entain has submitted an offer worth € 276.4 million to take over Enlabs.
The cash offer, in which Entain would pay 40 SEK for each Enlabs share, was recommended by the Enlabs board of directors, while shareholders, who hold 42.2% of the total Enlabs shares, have also committed to accept the offer.
According to Entain, the acquisition of Enlabs is directly related to its growth strategy of entering locally regulated markets in which Enlabs is not yet present.
Should the acquisition continue, Entain announced that it will retain the services of current Enlabs CEO, Niklas Braathen, to support the Group’s development of the Group’s business in the region and its expansion into new markets.
Subject to regulatory approvals and the acceptance of the offer by Enlabs shareholders, the transaction is expected to close before the end of the first quarter.
“The acquisition of Enlabs fits in perfectly with our strategy of expanding into new regulated international markets. We are very excited about the growth opportunities that are emerging in both existing and emerging markets, ”said Shay Segev, CEO of Entain.
“Enlabs is already a strong and fast growing company, but we now have a fantastic opportunity to grow its growth by harnessing the power of our unparalleled in-house technology, size, product and marketing expertise,” added Shay Segev.
Enlabs’ Braathen said, “When Entain became interested in acquiring Enlabs, we immediately saw the strategic logic.
“Entain’s experience and track record in a wide variety of geographic markets, along with market-leading proprietary technology and world-class marketing capabilities, are Enlabs’ main attractions as we grow in the Baltic States and beyond.”