Enlabs, run by Optibet operator, signed in voluntary renouncement of its Swedish online betting and gambling licenses, as it is planning to undertake some development works on its diversified platform before reinitiating with the latest licenses in the industry.
Enlabs chief executive and President George Ustinov stated that the operator would work on establishing and introducing some functionalities for the instant onboarding solution Play and Pay to its field to approve players to deposit money instantly even without registration.
Prior to that, players had to register with their information to the payment solution before depositing any money. With this solution introduced, players could get relieved from that condition.
Ustinov said that the Swedish industry was of great attraction to Enlabs, though their platform is presently suffering the paucity of support for what is called Pay and Play, which is tremendously essential for several of the brands they intended to initiate in Sweden.
The internal enlargement work had already been initiated, and they believed they had the technology, organization, and licenses with a transparent marketing plan for the beginning of multiple crucial brands set for 2021’s summer.
A regulator Spelinspektionen issued Enlabs to operate gambling and betting through the company’s flagship brand Optibet in Sweden in March 2020. However, some services will be available until next Summer while Enlabs plans to initiate multiple brands in the industry.
The operator said that presently Swedish activities brought in only a small portion of its total revenue, and that’s why the closure would merely have a marginal effect on earnings. Enlabs owns Global Gaming, which is a Ninja Casino Operator, attaining the most portion of the stake in the operator I Aug 2020 before augmenting its stake to around 95.8% in the next November.
Worldwide brands were lately active in the Swedish area but saw their own license rebuffed in Jun 2019.