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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

Entain Makes $1B Bid for Olympic Entertainment Group

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British betting firm Entain Plc has allegedly made a $1bn buy-out offer for Estonian operator Olympic Entertainment Group (OEG).

Citing anonymous sources, Bloomberg reported that Entain is looking to acquire the company’s online business, OlyBet, alongside its operations in Lithuania and Croatia. The deal would also include an option to buy Olympic’s outstanding business in early 2023 based on its performance.

OEG operates approximately 100 casinos across Europe, the majority of which are located in the three Baltic states of Estonia, Latvia and Lithuania, and its acquisition would see the British betting firm become the region’s market leader. However, neither company has so far issued a statement regarding the rumoured takeover.

If the sale goes through, it will build on Entain’s acquisition of Enlabs AB. The €370m purchase brought the Swedish iGaming company’s Optibet brand — OEG’s chief rival in the online gambling space — under the umbrella of Entain. At the time, the company claimed Enlabs’ acquisition was in line with its expansion into new markets.

Making the acquisition even more likely is the current position of OEG’s owner, London-based private equity firm Novalpina Capital. The company bought OEG for €300m in 2018, but the firm has been rocked by recent developments.

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Baltics

CT Interactive Enters Lithuanian Market with TOPsport

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CT Interactive is about to debut in Lithuania after striking a deal that will see its games live at the TOPsport operator.

“The agreement will expand our reach and strengthen our stronghold in the regulated European markets,” Lachezar Petrov, CEO at CT Interactive, said.

A carefully selected game list from the company’s portfolio that will appeal to players in the specific market will soon be available.

“We have included bestsellers like 40 Treasures, Lucky Clover and Duck Of Luck along with many other titles that TOPsport players will enjoy and come back for more,” Milena Tsankarska, business development manager at CT Interactive, said.

A first of its kind for CT Interactive in the Lithuanian market, this collaboration sees the provider’s first steps in the Baltic country. The supplier’s games are already available in Latvia and Estonia.

“It is great to see our efforts to expand market share pay off with a new partner and new market entry. We value our relationship and co-operation with our new partner. We have high expectations for the market and couldn’t find a better operator to enter the market with,” Petrov said.

“It is a great pleasure to start working together with CT Interactive,” Gintaras Staniulis, CEO of TOPsport, said.

“We believe that a more diverse portfolio will help everyone to find for what they are looking for. We are familiar with CT Interactive content and hope that our clients will like it. We are excited to expand our TOPsport casino family with CT Interactive.”

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Baltics

BF Games adds top-performing titles to Betsson Group brands

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BF Games adds top-performing titles to Betsson Group brands
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Creative development studio BF Games has launched its top-performing content across several Betsson Group brands.

A selection of the supplier’s titles is now live with the leading operator’s brands, including Betsafe and CasinoEuro, with the partnership stretching over numerous jurisdictions such as Latvia and Estonia.

The available content includes fan-favourites such as Book of Gods, Stunning Hot 20 Deluxe Remastered, Book of Ming, Royal Crown and Book of Gates.

Betsson Group is one of the largest companies in online gaming in Europe and boasts an impressive customer base across its many brands.

BF Games’ slot portfolio offers a diverse mix of classic fruit slots and more innovative content with immersive and engaging features.

The supplier has recently enhanced its footprint across numerous jurisdictions and was earlier this year awarded an ISO 27001 certification which will enable BF Games to enter additional markets such as Switzerland and Hungary.

Claudia Melcaru, Head of Business Development at BF Games, said: “This partnership with Betsson Group is a major step for us as we continue to focus on growing the reach of our content across brands and markets.

“Through this collaboration we will be able to introduce our top-performing games to a new audience and we are certain they will resonate well with Betsson Group’s players.”

Paul Malt, Head of Games at Betsson Group, said: ”BF Games content offers great entertainment with proven mechanics and features that will be a great addition to our existing product offering.”

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