Malta-based PressEnter Group is to be subject to a Management Buyout transaction led by chief executive officer Lahcene Merzoug and some members of the executive management team, several iGaming media outlets reported on Wednesday.
The transaction, which is expected to be completed shortly, will see Mr Merzoug take over as exec chairman.
The company’s management team are said to consider PressEnter Group to have significant potential for growth, going as far as agreeing terms with existing financial investors to acquire the business from investors.
PressEnter Group, founded in 2018 and formerly known as BetPoint Group, will continue to operate out of its headquarters in Sliema, Malta, where its talented team run its roster of popular brands. These include 21.com, JustSpin, NeonVegas Casino, NitroCasino, UltraCasino and RapidCasino.
Viewed as a new chapter for the business by management, the team will be reviewing existing operations and strategies to ascertain avenues for new opportunities, achieve growth and consolidate on strong points.
Lahcene Merzoug, Chief Executive Officer at PressEnter Group, said: “The management team has worked hard for the chance to take ownership of the business and we have a sound strategy that we strongly believe in.
“With the management team taking full ownership, the business will enter a new era. This is a major milestone for the organisation, and I look forward to leading from the front as we turn the page and start the next chapter of the PressEnter Group story.”
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