The senior management of Malta-based PressEnter Group is set to buy out the operator’s investors as CEO Lahcene Merzoug prepares to be appointed executive chairman of the company.
Led by Merzoug, the terms of the management buyout have been agreed with the company’s current financial investors and the transaction will soon be completed, the operator said.
Founded in 2018, the company – which rebranded last year from its former name Betpoint Group – will continue to operate from its headquarters in Sliema, Malta.
Commenting on the deal, Merzoug 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.”
PressEnter CEO Lahcene Merzoug: “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.”
Merzoug, who took over as CEO in April 2021 with the vision to establish PressEnter as a tier one organisation in the global iGaming industry, is a highly experienced iGaming executive.
Before joining PressEnter, he spent more than two years as CEO of ComeOn Group. Prior to that, he was CMO at Green Media, the internal media agency of Mr Green.
PressEnter’s brands include 21.com, JustSpin, NeonVegas Casino, NitroCasino, UltraCasino and RapidCasino.
The company has made a series of high-profile hires from rival operators this year, including ex-Tipico finance specialist Qurban Hussain as its chief financial officer.