Entain aims to expand its influence in the Baltics

Entain aims to expand its influence in the Baltics

Entain has made an offer to acquire Enlabs. The deal values the Baltic operator at SEK 2.8 billion ($341.6 million). The financial proposal is that operators Ladbrokes and Coral, formerly part of GVC Holdings, will pay SEK 40 for each share of Enlabs and subsequently will manage the business of the brand.

The shareholders, who own 42 percent of Enlabs, recommended that the rest of the board office accept the offer a sites not covered by gamstop.

Operator Enlabs, which is based in the Baltics but operates successfully in Eastern Europe and Scandinavia through its Optibet and NinjaCasino brands, is expected to generate net gaming revenue (NGR) of €89.5 million ($109.8 million) for the year (through December 31, 2021), according to preliminary estimates. Enlabs bought Global Gaming in November 2020, valuing the operator at SEK 450 million.

Entain said the acquisition was in line with its strategy of expanding into new and locally regulated international markets in which it was not yet present. The company's press office said its total revenues for 2020 will be about $1.1 billion.

Entain CEO Shai Segev said: "Enlabs is already a strong and fast-growing business, but now we have a fantastic opportunity to accelerate that growth by leveraging the power of our proprietary technology, scale, product and marketing expertise."

Enlabs Entain made its acquisition move amid growing rumors of a possible takeover by gaming giant MGM Resorts International. The American holding company intends to allocate about 11 billion dollars for the implementation of this deal. However, the operator stated that this amount "significantly underestimates its potential".