The leading European gaming company, Entain, has successfully acquired Enlabs AB and Bet.pt. This move signifies a significant step forward in Entain’s strategy to focus on fully regulated markets.
This acquisition grants Entain access to 30% more regulated markets, expanding its reach into four new European regulated territories. This expansion brings Entain’s total regulated markets to 27, as it integrates operations in six new regions where the acquired companies are active.
Entain initially proposed to acquire Enlabs, a Baltic-based company, in January 2021 for a sum of £250 million. The purchase price was subsequently raised to £314.6 million after Entain increased its offer for shares from 40 Swedish kronor to 53 Swedish kronor.
The acquisition was finalized in March, with the backing of 94.6% of shareholders.
Entain, previously known as GVC, reached an agreement in October 2020 to acquire Bet.pt, a Portuguese operator.
GVC rebranded to Entain in November 2020, with a strong emphasis on operating in fully regulated markets.
“These recent acquisitions align with our strategic objective of entering new locally regulated markets,” stated Rob Wood, Entain’s Chief Financial Officer and Deputy Chief Executive Officer.
Entain has declared its dedication to operating solely in nations where they are completely regulated or in the process of obtaining regulation. They are committed to expanding their operations worldwide. As part of their Advanced Responsibility and Care (ARC) program, Entain will be implementing new affordability checks across 14 brands in the UK. They are currently working to adapt the program for additional markets in 2021.
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