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Entain Secures Regulatory Approvals for Enlabs Acquisition

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Entain Secures Regulatory Approvals for Enlabs Acquisition
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Entain has confirmed that it has secured all the necessary approvals from the relevant competition and gaming regulatory authorities for the takeover of Enlabs.

As a result, the condition for the completion of the group’s offer regarding the receipt of all necessary regulatory approvals has been met. However, the firm has yet to gain the approval of all Enlabs shareholders.

Entain initially made a public cash offer of £250 million to the Entain shareholders to tender all shares in the operator on 7 January 2021. This represented an offer of SEK 40 per Enlabs share.

However, although company Chairman Niklas Braathen approved the bid, one of the key shareholders in the Baltic firm, US-based hedge fund Alta Fox, criticised the offer as having “materially undervalued the company.”

The FTSE 100 firm has subsequently increased the offer price to SEK 53 per share, valuing Enlabs at around €365 million, and further stated that the bid “is final and will not be increased.” Additionally, the group’s proposed buyout currently has the “irrevocable” approval of 51% of Enable shareholders.

Upon acquiring the relevant regulatory approvals, Entain stated that it “reserves the right to extend the acceptance period of the offer as well as to postpone the date of settlement.”

Baltics

Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

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Looking to take your career to the next level in the games industry? Then, Nordic Game Talents is the place to be! Games Factory Talents has teamed up with Nordic Game to bring you Nordic Game Talents.

From Oct 27-29, the online and interactive event is dedicated to recruitment and career building in the creative & games industry within the Nordic region. The event empowers participants to be part of a bigger community and motivates them to explore new paths in achieving their career goals.

Hiring creative & games studios – Supercell, Funcom, Panzerdog, Tactile Games, Gamecan, Fingersoft, Dazzle Rocks, Redhill Games to name a few from the Nordic region will be participating in the event. These studios will share information on their latest projects, work culture and what it takes to be part of their team. The individual games associations from Finland, Denmark, Sweden, Norway and Estonia will share insights through live sessions on the booming games industry in their respective countries. Career development topics pertinent to job seekers like – How to have a successful first interview, Creative Portfolio reviews will also be discussed.

Experienced game industry professionals and individuals beginning their careers from around the world are welcome to join the event. One-to-one interviews with the hiring studios can be scheduled through the event platform. A great opportunity to get to know the studios and network with game professionals from around the world.

Participating in the event

As a job seeker attending Nordic Game Talents, take a few minutes to fill out a simple registration form. After filling the registration form you will receive a link to the online event platform – PINE, to join the event on 27th October. Participants joining Nordic Game Talents will also receive a free-of-charge pass to the Nordic Game Conference.

To view the complete agenda, please click here and to learn more about the event please visit Games Job Fair

About Games Factory Talents

A Helsinki-based talent attraction agency dedicated to the games & creative industry. Our services include direct recruitment, organizing game job fairs and managing a community of game industry professionals through our GameDev Talent Board.

To learn more about Games Factory Talents visit – Games Factory Talents

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Baltics

Lithuania Approves Creation of Online-only Gaming Licences

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The Seimas, Lithuania’s legislature, has approved the first reading of amendments that would allow online-only gaming licences in the country.

At the moment, only operators that have a licence to offer land-based gaming can hold a remote gambling permit in Lithuania. Online-only operators must partner with land-based licensees to be able to offer gaming in the country. The new amendments to legislation would introduce a specific online licence that wouldn’t require a partnership.

Operators who wish to apply for a licence would need to hold at least €1.2m in capital in the case of casino gaming, or €289,000 and €144,000 in the case of online sports betting and online horse racing betting respectively.

Meanwhile, a new fee would apply to all kinds of gambling licences. Licensees must pay a fee of €1m on receipt of their licence and an additional payment depending on the type of licence. That payment would be €300,000 for slots, €100,000 for bingo and €500,000 for remote gambling.

The amendments would also require the construction of new slot halls, bingo halls and betting shops to be approved by municipal councils.

The first reading of the amendments was approved with 74 votes in favour, seven against and 39 abstentions. A second reading is still needed before the proposals become law.

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Baltics

Lithuanian Gaming Regulator Imposes Fine of €10,814 on Unigames

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The Lithuanian Gambling Supervisory Authority has issued a €10,814 fine to operator Unigames for organising gambling “outside the gambling regulation”.

An inspection carried out by the regulator found that the combined betting function used by Unigames’ via a BetBuilder feature were outside of the requirements specified in the company’s rules.

The regulator determined that this product, which allows players to create their own multiple bets on single sporting events, was not permitted in the country.

A ban on various forms of gambling promotion – such as bonuses – was recently implemented in Lithuania in July.

A statement from the regulator said: “The company has been warned about the possible violation of the license… and is obliged to eliminate the violation within the set term.

“This is the second decision after the Gambling Act gave the Gambling Supervisory Authority the right to impose economic sanctions on gambling organizers.”

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