Entain expands online gaming in Eastern Europe-acquires Enlabs heavily
In order to expand Entain's business in Eastern Europe, the British gaming giant Entain has proposed to acquire the Baltic online operator Enlabs for a price of 252 million pounds. For the acquisition of Enlabs, Entain announced that it has reached an agreement with Enlabs' independent bidding committee. The company's online gaming scope also includes an Optbet located in the Baltic Sea. Not only that, Enlabs also recently bought Ninja Casino's parent company Global Gaming, which can be said to pave the way for them to make a big splash in the gaming industry in Eastern Europe.
Entain bid to buy about 42.2% of Enlabs' shares, but it needs to ensure the approval of Enlabs shareholders holding 90% of the shares before February 18. For now, Enlabs shareholders welcome the news.
Entain stated that because Enlabs is not only the top operator in Latvia, the second largest operator in Estonia, but also the top five operators in Lithuania, and also has the potential to expand to Belarus and Ukraine, Entain's acquisition plan for Enlabs can Enhance its strength in the Baltic Sea, as these two markets are mostly regulated online gambling. Entain plans to retain Enlabs chairman Niklas Braathen to ensure the successful implementation of these expanded goals.