Voluntarily revokes Swedish licenses

2020-12-22

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Enlabs has decided to revoke its licenses for commercial online gaming and betting in Sweden. The reason is the need for technical development work linked to the company's certified platform. Enlabs intends to apply for new licenses on behalf of a group company in 2021, and expects to be able to launch several dedicated brands for the Swedish market by the summer of 2021.

Enlabs current operations in Sweden are very small, and the measure will in the short term have a marginal positive impact on earnings.

“The Swedish market is of great interest to Enlabs. However, our platform currently lacks support for the “Pay & Play” (PnP) technology, which is absolutely necessary for some of the brands we intend to launch in Sweden. The internal development work has already begun, and we believe we have technology, licenses and organization with a clear marketing plan for the launch of several of our most important brands, in place by the summer of 2021”, says George Ustinov, President and CEO of Enlabs.
 

For more information please contact:

Enlabs AB

George Ustinov, CEO and Group president
[email protected] / +371 29424175
 

About ENLABS

ENLABS stands for Entertainment Laboratories. Enlabs is a company that creates entertainment through innovative thinking within iGaming. The corporate group has offices in Tallinn, Riga, Vilnius, Malta, Marbella, Minsk and Stockholm. The operating subsidiaries hold national licenses for their operations and the Group employs approximately 300 employees. Enlabs AB (NLAB) is listed at Nasdaq First North Growth Market with Redeye AB as Certified Adviser: [email protected], +46 (0)8 121 576 90.  

For more information, visit enlabs.com

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