Entain To Acquire Enlabs In £250 Million Deal

Swedish gambling company Enlabs has agreed to a deal with Entain to be acquired at the current value of £250 million.

Enlabs which operates online sports betting brands across the Baltic States will receive some 15.6% premium on its current share price from Entain who themselves have been approached by MGM Resorts.

At present 42% of shareholders at Enlabs have accepted the deal and it is expected to be completed by the end of March this year.

The deal seems a good move by the owner of brands such as Ladbrokes, Coral and Foxy Bingo as analyst predictions forecast that Enlabs will produce some £23.5 million in earnings this year from revenues of £89.5 million for the 2021 calendar year.

Entain chief executive Shay Segev said of the deal: “The acquisition of Enlabs is perfectly aligned with our strategy of expanding across new regulated international markets,” he went on to say, “Enlabs is already a strong and rapidly growing business in its own right, but we now have a fantastic opportunity to turbo charge its growth by leveraging the power of our unparalleled proprietary technology, scale, product and marketing expertise.”