Entain's £316m bid for Enlabs secures regulatory backing

Entain - formerly GVC Holdings - made an initial cash offer for Enlabs in January. It then sweetened it to SEK 53 per share last week, and in a brief statement on Tuesday, confirmed the bid had since been approved by all relevant competition and gaming authorities.

The owner of Ladbrokes and Coral said: "Consequently, the condition for the completion of the offer regarding the receipt of all necessary regulatory approvals has now been fulfilled."

Although lockdown restrictions have closed high street bookmakers and curtailed sporting events, online gambling has surged in the last year and operators are looking to re-position themselves to benefit from the shift. Enlabs’ online brands include NinjaCasino and Optibet.

Announcing the increased final offer last week, Entain’s chief financial officer and deputy chief executive Rob Wood said at the time: "In a highly competitive and regulated industry, where consolidation is a key theme, Entain is able to provide the scale and platform. Needed to further support Enlabs’ long-term growth."

The acceptance period expires at 1700 GMT on 18 March 2021.

As at 1015 GMT, shares in Entain were 1% higher at 1,430.0p.