Terms for the buyout have been agreed with PressEnter’s existing investors.
Chief executive Lahcene Merzoug and a team of senior executives will then take control, with Merzoug named the operator’s executive chairman once the deal completes.
Management said PressEnter, who operate online casino brands such as 21.com, JustSpin, NeonVegas Casino, NitroCasino, UltraCasino and RapidCasino, in addition to the XLBet sportsbook, offers “significant growth potential”.
New chapter for PressEnter
“The management team sees this as a new chapter for the business and will be reviewing existing strategies and processes to maximise new opportunities, grow the business and focus on the company’s core strengths,” PressEnter 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,” said Merzoug.
“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.”
In recent months, the MGA-licensed business launched in Romania. This followed roll-outs in the Americas, in markets such as Peru, Chile and Ontario.