Entain offers $341.6m for Baltic operator Enlabs

8 Jan 2021

entain-logoEntain has made an offer to acquire the Baltic operator Enlabs putting on the table $341.6m. This offer means that Εntain (formerly known as GVC Holdings), the owner of Bwin, assesses each Enlabs share for $5.

Shareholders holding 42% of the total amount of Enlabs shares have undertaken to accept the offer.

Enlabs, is established in the Baltics and also operates in Eastern Europe and the Nordics through its brands Optibet and NinjaCasino. It is estimated to generate a net gaming revenue (NGR) of $109.8m for 2021.

Entain stated that this acquisition is in line with its expansion strategy across regulated international markets in which it does not yet operate. Enlabs’ chairman, Niklas Braathen, will stay in his role to help the group’s expansion into new markets.

Shay Segev, Entain’s CEO, stated that: “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.”

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No introduction is needed for Bwin. They were the first betting giants, being founded in 1999 when they came to the spotlight as Bet And Win. Since 2016, they have been under new ownership - Entain Plc - and have a clear white market strategy, acquiring domestic licenses in New Jersey, Sweden, Italy, Greece, France, and Spain. Bwin is regarded as a top-class bookmaker, but there are some massive pros and cons. The website is a little bit outdated, and the odds should be higher, especially at the top leagues. The absence of Asian bets and the slow withdrawal times are also a great minus. The same applies to the fast limitation on winning accounts, no matter if we are talking about a sharp or a recreational player. On the other hand, the live betting section comes with so many extra features, like Multiview and live streaming. The range of extra bets, both at the pre-match and live betting, sports and payment methods is huge and the mobile apps magnificent. No matter the disadvantages, Bwin will always be a safe place and a classic destination for the bettors.

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