March 1, 2021
Prominent iGaming and sportsbook operator Entain has announced that it has redoubled its effort to purchase smaller Baltic-facing competitor Enlabs AB by upping an earlier bid by some 32.5% to approximately $446.1 million.
The Isle of Man-based firm is already responsible for a plethora of iGaming brands including Bwin, Ladbrokes, PartyPoker and SportingBet and proposed a deal in January that would have seen pay around $336.7 million so as to acquire all of the issued share capital in Enlabs AB at an individual price of roughly $4.76. However, this proposition was subsequently rejected by a significant number of its target’s investors over concerns that the overall value of the Stockholm-listed firm was being belittled by as much as $122 million.
iGaming and sportsbook operator has reportedly been told that Alta Fox Capital Management will not support its proposed $340.3 million purchase of Enlabs AB.