Enlabs completes acquisition of KDB Games
Enlabs has completed the acquisition of KDB Games Ltd, a licensed land-based gaming operator in Belarus, which is done in order to apply for a license for online gaming.
The acquisition will be completed following a completed due diligence process related to the letter of intent signed in August, which Enlabs informed in a press release on August 29, 2019.
The purchase price for all shares in KDB Games amounts to approx. 127 thousand euros. In 2018, KDB Games had 240,000 euros in revenue and 30,000 euros in net profit. KDB Games is deemed to meet the requirements of the legislature in Belarus to be able to obtain an online license.
“We are very pleased to have completed the acquisition and thus be able to start work on the license application, and we expect to launch during the first half of 2020. As we previously communicated, we do not believe that the acquisition will have an immediate impact on our results, but it is an acquisition in line with our strategy of expanding to regulated growth markets in the CIS region. ”says Robert Andersson, President and CEO of Enlabs.