Online gambling operator Entain has put forward an offer worth €276.4m to acquire Enlabs.
The cash offer, which would see Entain pay SEK40 for each Enlabs share, has been recommended by the Enlabs board, while shareholders holding 42.2% of the total Enlabs shares have also undertaken to accept the offer.
Entain said the acquisition of Enlabs is directly aligned with its growth strategy of entering locally regulated markets where it does not yet have a presence.
Should the acquisition go ahead, Entain said that it would retain the services of current Enlabs board chairman Niklas Braathen, in order to help to develop the group’s operations in the region and its expansion into new markets.
Subject to regulatory approvals and Enlabs shareholders accepting the offer, the transaction is expected to complete before the end of the first quarter.
“The acquisition of Enlabs is perfectly aligned with our strategy of expanding across new regulated international markets. We are hugely excited by the growth opportunities it presents both in its existing markets and through new market opportunities,” Shay Segev, chief executive of Entain, said.
“Enlabs is already a strong and rapidly growing business in its own right, but we now have a fantastic opportunity to turbocharge its growth by leveraging the power of our unparalleled proprietary technology, scale, product and marketing expertise,” Shay Segev added.
Enlabs’ Braathen said: “When Entain’s interest to acquire Enlabs emerged, we instantly saw the strategic logic.
“Entain’s experience and track record in many different geographic markets, together with its market-leading proprietary technology and world-class marketing skills are key attractions for Enlabs as we look to grow in the Baltics and beyond.”
CT Interactive pens OlyBet distribution deal
CT Interactive has signed an agreement to provide gaming content to the operator OlyBet.
CT Interactive`s specially selected slot titles will now be available via desktop and mobile devices to customers throughout the operator`s brands in the Baltics and CEE markets. The provider`s top-performing slots will be included in the deal: Lucky Clover, 40 Treasures, Banana Party.
Milena Tsankarksa, Head of Business Development EMEA at CT Interactive, said she was delighted to pen the deal with OlyBet, which would now allow the distribution of CT Interactive`s slots to even vaster players` base in Europe.
She added: “We’re a great fit, and we are happy to offer quality products which will increase excitement and retention rates for operators“.
„The deal is the next step in fulfilling our strategy to significantly increase our market share in Europe. Our games offer a wide variety of themes and maths models which perform equally well in every gaming environment“, commented Lachezar Petrov, CEO at CT Interactive.
Erika Padisaar Casino Managerat OlyBet said: “CT Interactive’s slot games are a great addition to our wide range of existing gaming content and will provide our customers with a new selection of high performing products“
Lithuania Gambling Supervisory Authority Imposes €15,000 Fine on Top Sport
Lithuania’s Gambling Supervisory Authority has issued operator Top Sport UAB with a fine of €15,000 for failing to properly install a digital video recording system at two of its retail betting facilities.
An investigation by the regulator found that systems placed at the two locations in Klaipėda were not recording the premises properly.
The Authority said at one of the sites the video system set up to capture images of anyone who enters the shop was not recording accurately and the images were blurred, meaning it was not possible to identify those who had visited the premises.
The regulator’s investigation also found that the recording systems at both locations failed to capture images of financial transactions and also how much money was being paid in and out at each facility.
As such, the Authority said this breached article 15 part 3 of the Gambling Law of Lithuania, which states that video recordings must clearly show people entering the betting shop, as well as the actions of gamblers and bookmakers at the location.
The Authority noted that the decision is open to appeal by Top Sport.
Stakelogic takes Estonia and Latvia by storm with OlyBet deal
Provider’s full suite of classic slots and modern video slots have just landed in the operator’s game lobby for the first time, taking the player experience to the next level
Stakelogic, the provider of edge-of-the-seat online slot content, has landed in Estonia and Latvia after joining forces with the popular operator, OlyBet.
The partnership will see OlyBet roll out the provider’s full suite of classic slots and modern video slots to its players for the first time, allowing them to experience the high-thrills gameplay the studio has built its formidable reputation on.
OlyBet players in both markets will now be able the watch the fruit symbols drop and the big wins land in classic games such as Mighty Joker Arcade, Hot 7 Hold and Spin, Hot Joker, Ultra Joker and many more. Of course, each game has been given its own Stakelogic twist.
The deal also covers Stakelogic’s full portfolio of modern video slots, which have been topping operator game lobbies and player charts in markets around the world. This includes titles like El Cowboy Megaways, Hola Frutas and Wild Moon Saloon.
Stakelogic is a developer that sits at the cutting edge and one of its biggest hits to date has been Super Stake, a smart mechanic that allows players to effectively double their bet to increase the chance of a game’s bonus feature triggering and insane win combinations landing.
Neil Tanti, Sales Manager at Stakelogic, said: “We are thrilled to have teamed up with OlyBet and for our full suite of classic slots and video slots to now be available to its players in both Estonia and Latvia.
These are fast-growth markets where players now demand access to the best slots in the business, something that Stakelogic strives to provide with each game we release into our varied portfolio.
We look forward to seeing its players try our classic and video slots for the first time, especially those that opt to activate Stakelogic. Those that do will need to strap themselves in for the ride of their lives, that’s for sure.”
Erika Padisaar, Casino Manager at OlyBet, added: “Stakelogic is responsible for some of the hottest classic and video slots in the market right now, so we absolutely had to make its games are available to our players in Latvia and Estonia.
This is a great partnership for us and for our players, allowing them to fire up some of the most thrilling games out there. It’s deals such as this that make OlyBet the first-choice casino destination in Baltics.”
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