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Stockholm-listed iGaming operator Enlabs has agreed to acquire a licensed land-based gaming operator in Belarus.
The company has signed a letter of intent to acquire the unnamed Belarussian company, which does not currently hold a national iGaming license but meets the requirements to obtain one.
According to the press statement, Enlabs views the acquisition as being “strategically very important” for its expansion into the regulated Belarusian online gaming market. It also follows recent expansion in Estonia, Latvia and Lithuania.
“We have long experience and knowledge from neighboring markets and are firmly convinced of our opportunities to succeed in Belarus as well, a country in terms of population roughly the size of the Baltic states and with a total gaming market worth over €500m, said Enlabs’ chief executive and president Robert Andersson.
“We expect a strong growing market where we look forward to being a leading player. The acquisition is fully in line with our strategy to focus on ‘the Baltics and Beyond’ and work on the license application for online gaming will begin immediately,” added Anderson.
New laws regulating Belarus’ market came into effect on April 1, with the technical blocking of unlicensed operators to begin in April 2021. Operators interested in obtaining the local license has to meet a few strict criteria, including having several years experience of land-based gaming operations, and funds of nearly €1m euro.
