Baltics
Enlabs Posts Profit for First Half of 2020

In a morale-booasting news amid Covid-19-induced slow down, Baltic gaming operator Enlabs posted a profit of €2.64m for the first half of the year. The company also overcame a gaming suspension in Latvia.
While revenues were down at €16.6m from €18.4m the previous year in the same period, The number of total active customers rose by 14% during this period. But revenues slid by €1.8m to reach €16.6m. Deposits fell slightly to €53.5m (€54.4m).
Enlabs CEO and group president George Ustinov said: “During Q2 2020 Enlabs demonstrating its ability to adapt and evolve. Due to the Covid-19 outbreak, the Latvian parliament suspended all gaming licenses in the country from 8 April to 10 June. Retail operations in Lithuania have also been suspended for the greater part of the quarter. We cut back on marketing communication in both Estonia and Lithuania.
“Despite these temporary disruptions, Enlabs recorded €6.1m revenue, €0.5m EBITDA and €0.5m net profit with positive operating cash flow.
“Enlabs’ customers have welcomed our return in Latvia with several daily activity records proving that regulated local operators can always better cater for customer demands. This also showed more broadly than ever that balanced regulation aligns the interests of players, operators and government authorities.”
Enlabs had acquired 29.9% of Global Gaming 555, introduced esports betting with EveryMatrix and signed a deal Playtech’s iPoker network.
-
Affiliate Industry5 days ago
Affiliates are the key to unlocking operator success in Africa
-
Asia5 days ago
Asian Poker Tour Announces Cancellation of APT Manila 2025
-
Asia5 days ago
Birmingham City Forms Alliance with GOD55 as Their Official Asian Betting Partner
-
Compliance Updates5 days ago
EPIC Global Solutions highlighted as a key element in PrizePicks’ iCAP Accreditation
-
eSports5 days ago
TEAM VITALITY WINS BLAST OPEN SPRING 2025 AND EXTENDS WIN STREAK TO 16 MATCHES
-
Industry News4 days ago
Raffle House response to Lotteries Council demand for parity with prize draws
-
Central Europe5 days ago
Digitain Partners with Gamingtec to Expand Presence in Europe
-
Africa4 days ago
Springbok Casino is Offering 25 Free Spins in Honour of South Africa’s Top 5 Wild Egg Hunters