Enlabs revoke Swedish licenses

Business News

Enlabs has decided to revoke its licenses for commercial online gaming and betting in Sweden on its own initiative.

The reason is the need for development work linked to the company’s certified platform. Enlabs intends to apply for new licenses for a Group company in 2021, and expects to be able to launch several brands on the Swedish market by the summer of 2021.

Enlab’s 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 so-called “Pay & Play” (PnP), 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.

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