Enlabs Acquires a Majority Stake in Shogun Group

Enlabs, one of the leading companies in the iGaming industry, has acquired a majority stake in Shogun Group, the Malta-based iGaming operator currently operating through a third-party gaming platform under Maltese license.

Enlabs has plans to migrate operations under its own licenses to its own proprietary platform, adding its sportsbook BetX and providing full to accelerate business growth.

Shogun has just left the start-up phase and the acquisition will be done in two stages. The first stage includes Enlabs buying out the 66.5% holding in the company from a group of investors for 664 thousand euros, which will be settled by issuing 2229,995 new shares. The remaining 33.5% ownership will be still held by the Shogun founders.

Aside from acquiring the majority stake, Enlabs will invest 1 million Euros in cash into the Shogun business operations. It has an option to buy the remaining 33.5% of Shogun in January 2023 for a valuation of five times its net profit.

Ensured Success

Representatives from the Group say that the collaboration, along with becoming a part of the company will ensure the success of Shogun and that they are very excited for the future.

“The collaboration with Enlabs and becoming a part of the Enlabs organization will ensure the ongoing success of Shogun and gear up our development plans. In addition, new possibilities will arise through Enlabs. This is a great development and we are very excited for the future,” says Eric Holmberg, Shogun Group co-founder.

Officials from Enlabs, which saw a profitable first half of the year, say that their investors into Shogun will add to their development into new markets and that the company is becoming a more global iGaming operator.

“Our investment into Shogun Group will compliment and speed up our development into new markets bringing to the table new brands and proven regional sales expertise. It is an exciting opportunity to take a white-label operation in-house in order to enrich our sales knowledge, and test and develop our technical capabilities. Enlabs makes a confident step towards becoming a more global iGaming operator,” said George Ustinov, Enlabs CEO.

More about the Company

Enlabs, previously known as Nordi Leisure AB is a Swedish-based company which operates in the iGaming and betting industry. It owns and operates and manages sports, casino and internet gaming operations. It also operates online casinos and land-based betting shops under Optibet, GoldClubCasino and Best brand names. Additionally, it provides sports results and conducts performance-based marketing and also offers online gaming on mobile devices. The company’s subsidiaries operate in Estonia, Latvia, Malta and in the Swedish market.

Source:

“Enlabs acquires majority stake in iGaming operator Shogun Group”, enlabs.com, September 15, 2020.