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Optibet Sues Latvian Parliament Over Online Gambling Ban

Niji Narayan

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Optibet Sues Latvian Parliament Over Online Gambling Ban
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Gambling operator Optibet has challenged the decision of the Latvian parliament (Saeima) to ban online gambling in the Latvian Constitutional Court.

“With this decision, legitimate business was eliminated while illegal operators do not comply with any restrictions,” Dainis Niedra, Head of Optibet in the Baltic States, said.

In his opinion, the decision to ban online gambling has nothing to do with the fight and threats to the population of Latvia related to the pandemic, which means that it does not meet the declared goals.

It is worth mentioning, that on March 20, the Latvian parliament supported the government’s proposal to close gambling halls and ban online gambling during the pandemic.

Baltics

Slotmill certified for Estonia and Latvia

George Miller

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Slotmill certified for Estonia and Latvia
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The Slotmill games have been certified to meet the regulation in Estonia and Latvia. The games can be obtained either through a direct integration or via distributors.

Jamie Boyle, Product Manager at Slotmill, said: “We are delighted to have our games approved for these markets thereby extending our reach at the same time as it solidifies our commitment to meet local regulations.”

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Baltics

Entain Increases its Offer to Acquire Enlabs by 32.5%

Niji Narayan

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Entain Increases its Offer to Acquire Enlabs by 32.5%
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Entain has increased its offer to acquire Enlabs by 32.5%, from SEK 40 per share to SEK 53 per share. The increased offer price is final and will not be increased by Entain.

Rob Wood, CFO and deputy CEO of Entain, said: “As a world leader in sports betting and gaming entertainment, Entain’s ambition is to revolutionise betting and gaming to create the most exciting and trusted entertainment for every customer.

In a highly competitive and regulated industry, where consolidation is a key theme, Entain is able to provide the scale and platform needed to further support Enlabs’ long-term growth, and we firmly believe that Entain will be the best home for Enlabs, its employees and customers. Against this background, we have decided to make a final offer of SEK 53 to all shareholders, providing an opportunity to exit their investment at a very attractive valuation.

We are pleased that shareholders with around 51 per cent have now irrevocably agreed to accept the offer and would urge other shareholders to do the same by 18 March.”

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Baltics

Enlabs Reports Revenue Rise in Q4 2020

Niji Narayan

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Enlabs Reports Revenue Rise in Q4 2020
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Enlabs has reported that revenue for the fourth quarter of 2020 rose 82% to 20.3 million EUR. The uptick was driven by casino revenue with the number of active customers been 77,357, an increase of 88%.

Deposits were EUR 67.0 million, an increase of 99%. The betting margin was 4.7%. Adjusted net profit amounted to EUR 4.8 million.

George Ustinov, President and CEO of Enlabs, said: “We continued to increase the pace after a successful acquisition during Q3 and once again delivered a record quarter. All our markets showed growth between quarters, both in terms of activities and revenues. In our business development, most energy during the quarter was devoted to integrating the Global Gaming team into Enlab’s structure and operational processes.

The result of the integration process is a smoother, more unambiguous and adapted organization with a common business plan. In its team, Enlabs has gained know-how about the Nordic market and a global Pay & Play brand in its portfolio.

This means that I can say with certainty that Enlabs will be relaunched in Sweden in 2021 and the Ninja brand will be implemented in all operating markets. Enlabs has become a more perfect organization focused on two geographical regions with recognized merits, the Baltics and the Nordic countries, as well as our two flagships: the department store concept Optibet and Ninja with the pioneering concept Pay & Play.

Now we can proudly say that we are ONE company – Enlabs.”

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