After back-and-forth negotiations, a bid by U.K. sports betting company Entain to acquire Swedish online sportsbook Enlabs has jumped its final hurdle.
The overwhelming majority of Enlabs shareholders accepted the latest cash offer of 53 Swedish kroner per share. The deal comes to around £316 million (US$434.5 million), according to the Evening Standard.
Gaming authorities have already approved the purchase, but Enlabs investors balked at the price point. Settlement could take place by April 13.
In related news, Entain sent a note to various landlords asking for a reduction in rent as a result of the financial toll on sportsbooks in the wake of the coronavirus pandemic.
Entain runs over 3,000 licensed betting shops in over 30 different countries, but the request only went to those with leases set to expire within the coming two years, according to SBC News.
The rent reduction would lower overhead and allow the sportsbooks to stay competitive end keep folks employed. Jette Nygaard-Andersen, the new CEO, promised not to close any shops.
Retail betting shops suffered from imposed closures in 2020 and 2021, they also benefitted from financial support from the government.
Under the latest edicts, bookmakers can reopen April 12 while casinos can return to operations May 17. All non-essential services expect to receive direct cash payments of £6,000 per site in recovery grants.
