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Enlabs Makes a Mandatory Public Offer to the Shareholders of Global Gaming

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Enlabs announced on August 26, 2020, that Enlabs had acquired 9,878,086 shares in Global Gaming 555 AB on the same day, for a purchase price corresponding to SEK 11 per share (where 50 percent of the purchase price was paid in cash and 50 percent was paid through newly issued shares in Enlabs), and thus increased Enlabs’ ownership from 29.89 percent to 54.06 percent of all shares and votes in Global Gaming, which meant that Enlabs was required to make a mandatory public offer for the remaining shares in Global Gaming in accordance with the Takeover rules for certain trading platforms (the “Takeover rules”). Since the announcement, Enlabs has acquired additional shares in Global Gaming in the market and Enlabs’ ownership at the time of publication of this press release amounts to 66.70 percent of all shares and votes in Global Gaming.

Considering the above, Enlabs hereby makes a mandatory public offer to the shareholders of Global Gaming to transfer all their shares in Global Gaming to Enlabs (the “Offer”). The consideration of the Offer consists of three alternatives: (a) a cash consideration, (b) a share consideration in the form of shares in Enlabs, or (c) a combination corresponding to 50 percent as cash consideration and 50 percent as share consideration. All consideration alternatives correspond to SEK 11 per Global Gaming share. Enlabs will not increase the offered consideration.

The shares in both Enlabs and Global Gaming are listed on the Nasdaq First North Growth Market (“First North”).

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The Offer in brief

At the time of the Offer, Enlabs owns 27,266,114 shares in Global Gaming, corresponding to 66.70 percent of all outstanding shares and votes in Global Gaming.
The Offer values all shares in Global Gaming at approximately SEK 450 million.
Enlabs offers the shareholders in Global Gaming as consideration, for each share in Global Gaming, either:
a cash consideration of SEK 11 (the “Cash Consideration”),
0.36 shares in Enlabs (the “Share Consideration”), or
a combination corresponding to 50 percent as Cash Consideration and 50 percent as Share Consideration.
Enlabs will not increase the offered consideration.

The Offer entails a premium of approximately 15 percent in relation to the closing price on First North for the Global Gaming share on August 26, 2020 (which was the last trading day before Enlabs announced its intention to submit a public bid offer to the shareholders in Global Gaming) and a premium of approximately 1 percent in relation to the closing price on First North for the Global Gaming share on September 21, 2020 (which was the last trading day before the announcement of the Offer). Furthermore, the Offer entails a premium of approximately 4 percent in relation to the volume-weighted average share price for the Global Gaming share during the last thirty (30) trading days, and a premium of approximately 13 percent based on the volume-weighted average share price for the Global Gaming share during the last ninety (90) trading days, up to and including September 21, 2020.
The board of directors of Global Gaming, or an assembled independent bidding committee of Global Gaming, shall publish its opinion on the Offer and the reasons for this opinion no later than two weeks before the expiry of the acceptance period. Furthermore, Global Gaming must obtain and, no later than two weeks before the end of the acceptance period, publish a fairness opinion regarding the Offer from independent expertise. At the time of publication of this press release, neither such statement nor a fairness opinion have been published.
Enlabs’ completion of the Offer is only conditional on the acquisition being approved, if applicable, by the relevant competition authorities.

Enlabs will publish an offer document regarding the Offer, which is expected to take place around October 2, 2020. The acceptance period for the Offer is expected to begin around October 5, 2020 and end around November 2, 2020.

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Midnite appoints Alex Henderson as VP of Compliance to drive commitment to ‘doing things right’

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Fast-growing UK sportsbook and casino Midnite has further bolstered its team with the appointment of Alex Henderson as VP of Compliance.

Henderson joins Midnite with significant experience across compliance, regulatory affairs and operational risk within the gambling sector. He has worked with established operators, law enforcement agencies and advisory firms, bringing a balanced understanding of commercial and compliance challenges.

The addition of Henderson is the latest key addition for Midnite, after the appointment of Zach Amin as Vice-President of Sportsbook and Andrew Mook as Head of Brand Marketing – with both joining from Flutter.

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Henderson’s role will involve overseeing regulatory compliance, enhancing internal processes, and supporting Midnite’s continued focus on safer gambling and operational integrity under its UK licence.

He said: “I’m genuinely excited to be joining Midnite at such an exciting time in our growth story. Everyone I’ve met so far has been welcoming and clearly driven by a real passion for what they’re building. There’s a strong sense of ambition matched by a real commitment to doing things right.”

Midnite’s sportsbook was launched in 2018 by Nick Wright and Daniel Qu, who previously created daily fantasy sports platform Dribble in partnership with Sky Bet. In April, Midnite announced an investment of about £7.7m to help fuel its growth ambitions. The company has subsequently secured high-profile sponsorship partnerships with the World Snooker Championship, Southampton Football Club and Sheffield United Football Club.

The brand is focused on disrupting the UK betting market, prioritising the player experience with a slick website and app and a brand platform designed to speak to a new generation of players.

Wright said: “We’re building Midnite to be the most exciting betting brand in the UK but also the most trusted and that means taking compliance seriously. Alex brings heavyweight experience and the mindset we value – sharp, pragmatic and unafraid to raise the bar. His appointment is in keeping the standards we expect and the culture we’re creating.”

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Groove Technologies Partners with “Azərlotereya” OJSC to Revolutionise Digital Gaming Experience

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Groove Technologies, a leading global iGaming platform and game aggregation solutions provider, today announced a landmark partnership with “Azərlotereya” OJSC, the official lottery organizer, iGaming and sports betting operator in Azerbaijan.

This collaboration will leverage Groove’s cutting-edge gaming platform and proven technological reliability to deliver an unparalleled digital experience to players across Azerbaijan.

With a vast portfolio of over 15,000+ games from over 150 top-tier providers and a robust, scalable infrastructure, Groove’s platform ensures seamless performance, security, and innovation.

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The partnership will introduce “Azərlotereya” players to a new era of immersive gaming, powered by Groove’s industry-leading payment solutions, real-time analytics, and player engagement tools.

Rachel Tourgeman, Head of Partnerships at Groove Technologies, stated: “This partnership is a testament to Groove’s ability to deliver world-class gaming technology at scale. “Azərlotereya” recognised our platform’s unmatched reliability and depth of content, key factors in providing players with a premium, frictionless experience. Together, we’re setting a new standard for digital lottery entertainment.”

“Azərlotereya” OJSC added: “Our mission is to bring innovation and trust to “Azərlotereya” gaming landscape, and Groove’s proven platform aligns with that vision. Their technology’s stability and expansive game library allow us to elevate our offerings while maintaining the high standards of security and compliance. This partnership marks a major leap forward for our digital transformation.”

Groove’s platform is engineered for high-traffic environments, ensuring zero downtime and lightning-fast transactions, a critical advantage for “Azərlotereya” OJSC’s growing player base. The integration also includes advanced responsible gaming features, reinforcing both companies’ commitment to safe and sustainable play.

Trusted by partners worldwide, Groove turns complexity into competitive advantage. With a commitment to transparency and player satisfaction, “Azərlotereya” continues to pioneer the future of gaming in the region.

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Yahale Meltzer, Co-Founder and COO of Groove Technologies, concluded: “At Groove, we don’t just power gaming platforms, we power possibilities. Collaborating with a forward-thinking partner like “Azərlotereya” allows us to demonstrate how technology can redefine an industry. This is just the beginning of a partnership that will drive innovation, engagement, and growth for years to come.”

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ZEAL invests in Swedish iLottery specialist Random State

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  • Co-investment by ZEAL and French lottery operator FDJ UNITED Ventures
  • Strategic partnership drives industry innovation and growth

ZEAL Network SE, Germany’s leading provider of online lotteries, is investing in the innovative Swedish iLottery and iBingo specialist Random State, alongside FDJ UNITED Ventures, FDJ UNITED’s startup investment fund.  With this co-investment, both partners reaffirm their commitment to advancing the global lottery industry.

Random State develops modern, digital instant lottery and bingo formats characterized by creative game design and a consistent focus on user experience. Notable clients include The UAE Lottery, the first regulated lottery in the United Arab Emirates and Delta Bingo Online, the digital arm of the Canadian gambling operator Delta Bingo & Gaming.

Investment creates value for all parties

The investment will enable Random State to strategically expand its sales and marketing activities and accelerate the development of new games – supporting the company’s continued growth trajectory. ZEAL, in turn, gains not only valuable insights into new game formats and mechanics but also benefits from the commercial partnership opportunities that come with the investment. This move is part of the strategic goal of ZEAL Ventures, the venture investment department of ZEAL, to actively shape the future of lottery and infuse innovation into ZEAL’s product portfolio.

The partnership with FDJ UNITED Ventures also highlights the increasing collaboration among leading European lottery operators, united by a shared ambition to bring fresh momentum to a modern and future-ready lottery landscape.

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Driving the future of the industry together

“With Random State, we are investing into innovation in the iLottery sector,” says Juliane Gutsmiedl, Investment Manager at ZEAL Ventures. “The team impresses with creative game design and a deep understanding of diverse user preferences – providing us with valuable impulses for the development of our own portfolio.”

“Our vision is to reimagine the lottery – digital, user-centric, and globally connected,” said Mattias Westholm, CEO of Random State. “With ZEAL Ventures and FDJ UNITED Ventures, we’ve found strong, strategically-minded partners who share this ambition. This investment allows us to accelerate our innovation pipeline and expand into new markets and customer segments.”

The post ZEAL invests in Swedish iLottery specialist Random State appeared first on European Gaming Industry News.

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