The executive management of Malta-based iGaming company PressEnter Group is taking full control of the company through a management buyout acquisition which is currently in progress, iGB reported.
Management Team Takes Full Control of PressEnter Group
PressEnter Group CEO Lahcene Merzoug, who will also become executive chairman, together with other members of the senior management team is going to acquire all shares of the company and take full control of it.
This means a new phase in the company’s development, according to Merzoug. There are plans for a review of the current company strategy and processes. Eventually, changes will follow aiming for further growth and market expansion, maximizing new opportunities worldwide.
PressEnter is an innovative gambling company with cutting-edge products focusing on online gaming. It operates several brands, including established names such as XLbet, 21.com, NitroCasino, NeonVegas, and others.
Turbulent Year for PressEnter Group
2022 has been an eventful year for PressEnter Group. The company has been expanding in several markets.
In June, the company entered the legal gambling market in Romania with the launch of its NitroCasino brand. Romanians now have the opportunity to play thousands of different slot games and a variety of casino table games, which come with lots of bonuses, rewards, and promotions.
In October, PressEnter Group stepped on Canadian ground by securing a license in Ontario for its NitroCasino brand. In connection with the development company CEO Lahcene Merzoug noted that this is just one step in PressEnter Group’s planned international expansion.
However, the most important step in this global strategy has been the product launch PressEnter Group implemented in Latin America. The company stepped into the iGaming markets in Chile and Peru with its Ultra Casino brand.
Latin America has been a highly attractive market with its fast-paced growth in recent years so more and more stakeholders are trying to enter and establish themselves in the region. PressEnter Group is also hoping to expand Ultra Casino to other countries in the region in the next 12 months.
PressEnter Group Hiring Top Talent
Market expansion has not been the only development for the company in 2022. A lot of new hires joined the executive team in the past few months.
In June, the company poached Kindred Group’s ex-head of delivery and portfolio management, Nicolas Renaux, and made him head of strategy and business development betting on his 15 years of experience in the gambling industry. Renaux quit in November.
In July, the company hired a new director of compliance in the face of Daniela Speranza, who played a key role in PressEnter Group’s expansion in new markets, making sure that the company met all regulatory requirements. For most of her career, Speranza has worked within compliance at various betting and gambling companies. Speranza stepped down from her position with the company recently.
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