ENTAIN UPS OFFER FOR ENLABS BY WHOPPING 32.5%

British gambling group Entain has significantly increased its offer for Enlabs, offering to pay 32.5% more than previously tabled. 

The new offer would pay SEK 53 per share, compared to the previously offered SEK 40 per share, though Entain has insisted this is now its final offer and will not be increased further.

Rob Wood, CFO and deputy CEO of Entain, said: “As a world leader in sports betting and gaming entertainment, Entain’s ambition is to revolutionise betting and gaming to create the most exciting and trusted entertainment for every customer.

“In a highly competitive and regulated industry, where consolidation is a key theme, Entain is able to provide the scale and platform needed to further support Enlabs’ long-term growth, and we firmly believe that Entain will be the best home for Enlabs, its employees and customers. Against this background, we have decided to make a final offer of SEK 53 to all shareholders, providing an opportunity to exit their investment at a very attractive valuation.

“We are pleased that shareholders with around 51 per cent have now irrevocably agreed to accept the offer and would urge other shareholders to do the same by 18 March.”

Enlabs operates brands including Optibet and NinjaCasino, and has a particularly strong presence in the Nordic and Baltic markets.

As previously reported, Entain’s initial offer for Enlabs was rejected by shareholders including Texas-based hedge fund Alta Fox Capital Management, which itself suggested a price of SEK 55 per share.