Connect with us
SIS

Baltics

Enlabs Posts Profit for First Half of 2020

Niji Narayan

Published

on

Reading Time: < 1 minute

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.

Baltics

Stakelogic Enters Estonian Market with Optibet

Niji Narayan

Published

on

Stakelogic Enters Estonian Market with Optibet
Reading Time: < 1 minute

 

Online slot developer Stakelogic has entered into the Estonian market with its new operator partner Optibet.

Players at Optibet in Estonia can now access Stakelogic’s biggest hits including Book of Cleopatra Super Stake, Book of Adventure Super Stake, Book of Anubis, Dragons and Magic, Black Gold Megaways and many more.

“We are excited to have entered the Baltic market with a prestigious operator partner, Optibet. Our slots have taken the industry by storm over the past 12 months and we believe they will prove to be just as popular in the Baltics. Optibet has already achieved great things and is one of the largest gambling brands in the market. The addition of our slot games means that it will be able to further distance itself from its rivals and deliver the best experience to players,” Salvatore Marino, Sales Director of Stakelogic, said.

“Integrating Stakelogic’s suite of games is a major coup for Optibet as its slots are in high demand among players in the country right now. To be the first to offer them marks us out as a true leader in the market,” Chris Davis, Chief Product Officer at Optibet, said.

Continue Reading

Baltics

SoftGamings Sportsbook Solution Gets Certified in Latvia

Niji Narayan

Published

on

SoftGamings Sportsbook solution certified in Latvia
Reading Time: < 1 minute

 

SoftGamings’ Sportsbook solution has been certified for use in the Latvian regulated market.

SoftGamings Sportsbook product incorporates BetRadar odds and risk services and allows for a deep front-end design customisation. SoftGamings Sportsbook offers over 500,000 events every year on 80+ sports. On top of that, SoftGamings offers a fully customisable bonus and freebets engine.

The first client to use SoftGamings Sportsbook in Latvia is Casino777.lv. The Sportsbook can be easily integrated into the client’s site, with extensive support for sport tracking, widgets, promo offers and banner ads supported out of the box.

“We’re always happy to see our clients making big steps in the industry. Casino777 is a comprehensive platform with an outstanding casino and sportsbook. We’re proud to provide our sports betting software to the client and hope to continue our cooperation for a long time,” Irina Sazonova, Director of Partnerships at SoftGamings, said.

“Being able to provide our services in Latvia, Casino777 has reached a significant milestone. It means we’re about to enter a dynamic European market, which could help us grow further as a company. Europe offers a very competitive market, especially when it comes to sports, and we’re ready to enter the competition since we have outstanding sports betting software,” Vyacheslav Klyuevsky, Head of Sportsbook of Casino777.lv, said.

Continue Reading

Baltics

Enlabs Receives Competition Authority Approval for Global Gaming Acquisition

Niji Narayan

Published

on

Enlabs Receives Competition Authority Approval for Global Gaming Acquisition
Reading Time: < 1 minute

 

Enlabs has received approval from the Estonian Competition Authority to proceed with its acquisition of Global Gaming.

The approval from the competition authority was the only condition standing in the way of the Baltics-facing online operator’s offer, which was published in September. Now, the condition is fulfilled and Enlabs, therefore, declares the offer unconditional and will complete the offer.

The last day to accept the offer is 2 November 2020. The payment of the consideration is expected to begin around 6 November 2020.

Enlabs reserves the right to extend the acceptance period for the offer, as well as to bring forward or postpone the time for payment of consideration.

Continue Reading
Advertisement
NSoft

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Trending

Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.

Kasynos.Online