Entain Set for Enlabs Takeover as Shareholders Accept Revised Offer

by Natasha Lyndon - Monday, March 22nd, 2021 1:44

Ladbrokes owner Entain is poised to takeover Swedish iGaming company Enlabs after improving its cash offer from 40 to 53 Swedish Kronor (€5.22) per share.

Enlabs had set an acceptance target of 90% of shareholders, and with 94.2% agreeing to the sale, it now looks like Entain will soon add the Swedish brand to its portfolio.

Entain has now extended the acceptance period to April 1st to allow shareholders who have not yet accepted the offer make their decision.

Settlement for the shares tendered before March 18th will happen no later than March 30th. Settlement for any shares tendered during the extended acceptance period will take place around the middle of April.

Entain recently revealed that its 2020 online revenue was up by 28% on the previous year to €3.13 billion. This marked the 20th consecutive quarter of double-digit online net gaming revenue growth.

Natasha Lyndon

Based in London, Natasha is a former sports journalist with experience working for some of the biggest athletes & brands in the world of sports and iGaming.