The gambling and casino operator, Entain has offered to acquire Enlabs for $341.6m as part of Baltics expansion.
The operator has made the offer stating that it would be a ‘cash’ deal and that it would pay SEK 40 for each Enlabs share.
It has also been reported that 42% of the Enlabs shareholders have already accepted the offer. As per Gambling Insider, Enlabs is estimated to generate net gaming revenue (NGR) of €89.5m ($109.8m) for the year up until 31 December 2021.
The Ladbrokes and Coral operator, Entain, formerly known as GVC Holdings, stated that it plans to expand to local markets such as Baltics which is also a regulated market.
Entain also maintained that Enlabs chairman Niklas Braathen will invest €15m into Entain shares within 4 months of the consideration of the offer and will remain the chairman for the Enlabs Group.
As per Gambling Insider, Entain CEO Shay Segev 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.”