Prominent iGaming and sportsbook operator Entain is reportedly standing by its $336.7 million offer to purchase smaller Baltic-facing competitor Enlabs AB after extending the acceptance period for a further month to March 18.
According to a report from Gambling Insider, the Isle of Man-based firm is already responsible for a plethora of iGaming brands including Bwin, Ladbrokes, PartyPoker and SportingBet while partnering with MGM Resorts International to run the BetMGM platform in the United States. The source detailed that the operator suggested a takeover on January 7 that would see it pay Enlabs AB investors some $4.76 for every individual share they hold in the Stockholm-listed entity.
Investor involvement:
This initial proposition was reportedly then slated by groups holding an aggregate 11% stake in Enlabs AB over concerns that it ‘materially undervalues’ the operator behind the Optibet-branded family of iGaming domains popular in the online gaming markets of Lithuania, Estonia and Latvia. One of these, the Texas-based Alta Fox Capital Management hedge fund, purportedly later explained that it would only be prepared to entertain an offer for its 3.3% holding if the individual share valuation was bumped up to around $6.61.
Resolute response:
However, Entain has now reportedly responded to these 
concerns by calling its initial offer ‘acceptable’ and extending the approval cut-off date beyond its initial February 18 deadline. The firm, which was formerly known as GVC Holdings until undergoing a December name-change, purportedly moreover pronounced that it could officially begin its acquisition of Enlabs AB by the end of next month should all of the deal’s conditions be satisfied by March 23.
Reportedly read a statement from Entain…
“The offer and the acquisition of Enlabs AB is conditional on, among other things, the receipt of all necessary regulatory, governmental or similar clearances, approvals and decisions including from competition authorities and gaming authorities in each case on terms which, in Entain’s opinion, are acceptable.”
Play games casino online games refers to participating in casino-style games through an online platform. In essence, it combines the excitement of traditional casino games, like slots, blackjack, poker, and roulette, with the convenience of playing them online.
When you play games casino online, you can enjoy:
-
Variety of Games: Many online casinos offer a huge range of games, from popular slots to live dealer games, replicating the casino experience at home or on mobile.
-
Accessibility: Online casinos allow you to play anytime and anywhere, making it easy to enjoy your favorite games without traveling to a physical location.
-
Bonuses and Promotions: Online casinos often offer promotions, welcome bonuses, and rewards, enhancing your experience and providing extra funds to play with.
-
Real Money or Free Play: Most platforms offer options to play for real money or for fun, giving players the flexibility to test games before committing financially.
Online casino games bring the thrills and potential rewards of a real casino experience to your screen, with the added security, convenience, and bonuses that online platforms provide.
