Enlabs Revokes Swedish iGaming and Betting Licenses

Enlabs announced via its Optibet brand the sale of its Swedish online gaming and sports betting licenses and a strong comeback next summer.

Enlabs Voluntarily Drops Swedish Licenses

iGaming and sports betting operator Enlabs has revoked its Swedish licenses to focus on the development of its proprietary technology platform. The company has vowed to return to Sweden’s gaming market and said that this was a voluntary move.

“The Swedish market is of great interest to Enlabs,”

George Ustinov, Enlabs president and CEO

The Optibet owner shared a message on the decision on the website of its flagship brand. Estonia-based Enlabs said it has sold its online gambling and sports betting license in Sweden to undertake “product development and improvement”. The company mentioned the “marginal positive impact” on revenue from the sale of its Swedish licenses.

On the status of customer accounts, the firm stated that “all remaining funds have been refunded to the customer,” and added that it provides ready customer support.

“Necessary” Support for Dedicated Brands

In March 2020, the Swedish Gambling Authority Spelinspektionen ordered Enlabs to start operations in the country’s gaming market by July or surrender its Swedish license. The operator decided to launch the Optibet website in June.

Enlabs said it expects to launch new brands dedicated to the Swedish gaming market over the next summer. Furthermore, the company will apply for a new Swedish license as an undisclosed entity created earlier this month through the acquisition of operator Global Gaming, licensed in the country.

“However, our platform currently lacks support for the Pay and Play technology, which is absolutely necessary for some of the brands we intend to launch in Sweden,” Mr. Ustinov declared.

According to the CEO, Enlabs has begun “the internal development work” and trusts its “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.”

Enlabs’ Broad Strategy

On December 8, the top online gaming operator in the Baltics announced the appointment of its Head of Accounting, Jelena Nisa, to the position of Chief Financial Officer. “She brings high financial competence, strong analytical and organizational skills, and exceptional attention to detail,” Enlabs CEO George Ustinov commented.

Enlabs plans to expand beyond the Baltics to become a leading global iGaming business. In early November, the largest online gaming operator in the region acquired Global Gaming, of which it already owned 67%, as part of this strategy.