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ENTAIN’S ENLABS AMBITIONS HIT SNAG AS MAJOR SHAREHOLDER REJECTS OFFER

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ENTAIN’S ENLABS AMBITIONS HIT SNAG AS MAJOR SHAREHOLDER REJECTS OFFER

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Image credit: Enlabs

Entain’s planned acquisition of Baltics-focused gambling operator Enlabs has hit a snag, with a major US shareholder rejecting the offer. 

According to Texas-based hedge fund Alta Fox Capital Management, which owns 3.3% of Enlabs, Entain’s offer of SEK 40 (£3.50 GBP) per share, which is worth some £250M GBP, materially undervalues the company.

The hedge fund says it has the support of “more than 10%” of Enlabs investors, who intend to reject Entain’s recommended offer. Alta Fox has has said that it believes Enlabs shareholders must be better compensated, citing the company’s “excellent growth prospects”, and has suggested a price of 55 SEK per share. 

Furthermore, Alta Fox has expressed concern at the terms of the deal, including “unusual circumstances”, and the fact that Enlab’s chairman, Niklas Braathen had been guaranteed an executive position post-deal. Braathen is the largest single shareholder in Enlabs, with his private investment firm, Erlinghundra AB owning 19.5% equity. Enlabs was formed in 2007 when RedBet Gaming acquired Baltic Gaming Group, which Braathen founded, hence his large shareholding.

Enlabs operates brands including Optibet and NinjaCasino and has a strong presence in the Baltic markets of Latvia, Estonia, and Lithuania. It is expected to generate net gaming revenues of approximately €89.5M and EBITDA of €23.5M in the year ending 31 December 2021. 

As previously reported, Entain itself is currently considering a proposed $11B USD acquisition by MGM Resorts International, though the company has said that offer “significantly” undervalues it.

 

AYO.NEWS says:

With both Alta Fox claiming Entain is significantly undervaluing Enlabs, and Entain itself claiming MGM Resorts is significantly undervaluing it, you could be forgiven for wondering if current shareholders are actually significantly overvaluing their current portfolios? 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

With several years experience in the igaming and sports betting industries in Malta under his belt, over the last few years Oliver has developed a passion for blockchain and an interest in esports. He’s also a published novelist and has a background in art and photography.


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STAKELOGIC’S SUITE OF SLOTS TO GO LIVE WITH PAF

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Image credit: Paf

Casino content developer Stakelogic has partnered with Åland Islands-based operator Paf. 

The deal will see Paf integrate Stakelogic’s full suite of classic and modern slot games, giving players the opportunity to enjoy titles including Book of Adventure™ and Book of Cleopatra™ as well as Volcano Deluxe and Runner Runner Megaways™.

Also covered by the deal are branded slots like The Expendables Megaways™, Rambo Stallone™, and The Legend of Hercules™, as well as Super Stake™ versions of Book of Adventure™ and Book of Cleopatra™.

Discussing the partnership Sales Director at Stakelogic, Olga Bajela, said:

“Paf is one of the biggest and most responsible brands in the industry and integrating our full suite of quality classic slots and modern video slots is a major milestone for us as we work towards becoming a tier one developer.

“With each of our games we try to create something new and exciting for the player, but we always ensure the highest possible production value and the chance for players to win big. This has proved to be a successful formula and we believe our games will be a big hit with players at Paf.”

 

While Chief Gaming Officer at Paf, Kim Johansson, added:

“We are committed to offering the widest range of quality online casino content to our players and we are delighted to have added Stakelogic to our portfolio. Stakelogic’s games will be a great addition for us and we look forward to seeing our players enjoy these games!”

 

All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

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JASON ADER’S 26 CAPITAL ACQUISITION CORP LISTS ON NASDAQ

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Billionaire gambling investor Jason Ader’s new 26 Capital Acquisition Corp, listed this morning on the Nasdaq Capital Market.  

Yesterday the company announced it had priced its upsized initial public offering of 24,000,000 units at $10.00 per unit, making for a $240M IPO. The offering is expected to close on 20 January 2021. 

26 Capital Acquisition Corp, is a ‘special purpose acquisition company’ (SPAC) which defines itself as a “black cheque company” for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, in the gaming, gaming technology, branded consumer, lodging and entertainment, and internet e-commerce sectors.

Ader, widely recognised as one of the world’s most successful gambling ‘activist investors’ has made significant investments in bwin.party Entertainment, GVC Holdings (now Entain), and Playtech Plc, via his New York hedge fund SpringOwl Asset Management

 

AYO.NEWS says:

With US states still legalising gambling, and the online gaming and betting space booming everywhere, we’ve got a feeling it won’t be long before Ader’s new company makes its first big move. 

Interesting trivia; in the early 2000’s Ader dated actress Tara Reid of American Pie and The Big Lebowski fame (and let’s not forget the amazing Sharknado).

 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

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QTECH GAMES TAPS GROWING LIVE CASINO MARKET WITH EVOLUTION

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Image credit: Evolution

Casino content distributor QTech Games, has announced a partnership with live casino provider Evolution. 

The deal will see Evolution’s content suite including real-time table games like blackjack, roulette, baccarat, and three card poker, along with regional games like India’s Andar Bahar, made available to QTech Games clients and their players across Asia and other growth markets. 

Commenting on the news CCO at QTech Games, Ulf Norder, said:

“We’re thrilled to team up with Evolution. Naturally, their stunning live-dealer portfolio needs no introduction. The QTech Games platform is integrated with the best games from the planet’s top providers – and Evolution now stand at the zenith of that mountain with their garlanded games.

“Of course, there’s a huge revenue opportunity for operators due to the fact that live casino remains such an exciting online gaming sector in its own right. Seamless integration equips our clients with best-in-breed live games for their end users. Unrivalled customization options, dedicated tables and native speaking dealers also make it far easier to customise the experience to any specific market needs. Strong growth in casino vertical continues in the face of the pandemic, and we can’t wait to see how these games perform across a range of new markets.”

 

While an Evolution spokesperson added:

“This deal seamlessly broadens Evolution’s international scope, unlocking untapped markets from Asia to Eastern Europe and Latin America for diversified growth. Evolution’s unflinching commitment to delivering engaging live-player experiences affords customers, who love these games, the visceral thrill of playing in a real-world casino, while QTech’s peerless localised expertise made them the perfect fit for us.

“QTech Games is a pioneering distributor across Asia and other sometimes-overlooked regions, so we look forward to seeing how our games connect with different and diverse audience sets. Evolution is constantly creating innovative and exciting content with which to offer players the ultimate gaming adventure – it’s entertainment redefined.”

 

All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

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‘THE HOFF’ IS FACE OF ROOTZ’S NEW ‘WHEELZ CASINO’ BRAND

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Image credit: Rootz Ltd

Malta-based Rootz LTD has launched Wheelz Casino, its third online casino brand, and partnered with showbiz legend David Hasselhoff.

The launch of Wheelz Casino, which is built on Rootz’s own gaming platform, follows the success of Rootz’s breakout brand, Wildz, and last year’s launch of Caxino.

Billed as delivering uncharted levels of player customisation, seamless navigation, and real-time rewards, the new casino leverages in-house smart systems from Rootz’s toolkit, improving key business areas including AML and Rewards. 

Hasselhoff, who became a household name in the 80s and 90s thanks to Knight Rider and Baywatch, will be acting as brand ambassador for Wheelz Casino. He will also star in his very own dedicated bonus game at the casino. 

 

AYO.NEWS says:

We take it Rootz are aiming for German market success then? Staying with Malta-based gaming companies and Hollywood celebrities, slot developer Swintt recently announced it is creating a suite of casino games with Vinnie Jones

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

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ROYALE FINANCE RAISES $1.45M TO CHAMPION TRANSPARENCY IN IGAMING

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Image credit: Royale Finance

Royale Finance has raised $1.45M USD to power its mission of merging DeFi with iGaming, and has introduced liquidity pools to support companies that use provably fair algorithms. 

The funding round attracted participation from investors including Alphabit Fund, AU21 Capital, Fomocraft Ventures, Kyros Ventures, and Vendetta Capital

A cross-chain DeFi solution using liquidity pools to provide funding for iGaming startups, Royale Finance says it is aiming to support innovation and transparency in the fast-moving sectors of online casinos, sports betting, poker, prediction markets, lotteries and more. 

According to Royale Finance, research suggests the online gambling market will reach $127.3B by 2027, representing a compound annual growth rate of 11.5%m – and is being fuelled by the rise of digital assets and secure digital payments. However, because many games provide little transparency, both players and operators have concerns over trustworthiness.

To address the trust issues, Royal Finance only supports iGaming platforms that use provably fair algorithms, which genuinely randomise numbers. Any startup wishing to access the liquidity within the Royale Finance network must be licensed and have its random number generators (RNG) certified by an accredited testing lab. 

CEO of Royal Finance, Giorgio Andrews, explained:

“Centralized finance has stifled innovation in the iGaming sector. There is a lack of accountability and transparency, with too much control in the hands of few.

“Royale takes a hybrid approach that combines blockchain technology and DeFi to bring both fairness and accessibility to the sector, opening the door to the next wave of innovators. By doing this, not only will iGaming startups earn more, but every online casino operator will soon be able to attract provably fair games supported by our network and token holders.”

 

By employing ROYA, a valueless governance token, the Royale Finance ecosystem enables coordination between DeFi liquidity providers within the stablecoin collateral pool, and the dispersion of loans to iGaming companies. 

To power innovation, the system employs a network-driven liquidity approach, with token holders voting on which games to support, and developers keeping their equity when they build and launch their games. The liquidity pools are optimised within the ecosystem, providing a sustainable yield to investors. 

Royale Finance has now completed its Version 1 Web 3.0 App, and is aiming to build a suite of provably fair games, while eventually transitioning to become a complete Decentralised Autonomous Organisation (DAO). 

 

AYO.NEWS says:

For a while now blockchain and DeFi technology has promised to improve the iGaming industry, removing some of the persistent issues – of which transparency is probably the greatest, at least from the point of view of players. But now, we actually have a tangible ecosystem that can not only improve transparency, rewarding best practice and encouraging sustainability, but also help startups get the finance they need to compete with the big developers. 

 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 
All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

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ASPIRE GLOBAL’S PARIPLAY & 888CASINO EXPAND PARTNERSHIP TO PORTUGAL

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Online casino games studio and aggregator Pariplay has extended its partnership with 888casino to cover Portugal. 

Aspire Global’s Pariplay and 888 Holdings’ 888casino already had agreements in place covering the UK, Italy, Spain, and Romania, but now the operator’s Portuguese players will also be able to enjoy games including Wolf Riches, Mystic Manor, Rumble Rhino, and Dragons of the North

Commenting on the news SVP of B2C at 888, Guy Cohen, said:

“We’re delighted to expand on our long-term partnership with Pariplay. It’s incredibly rich, exciting titles will be loved by our customers in Spain and Portugal while marking another opportunity for us to expand our premium casino content.”

 

While Managing Director at Pariplay, Adrian Bailey, added:

“We are really excited about introducing our games to players at 888casino in Spain and Portugal in line with our commitment to expanding our footprint in regulated markets. With 888casino at the helm, we have a perfect partnership for making this happen.”

 

All original content featured on this site is © Pentagon Digital Limited, 2019-2021.

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