Senior management team will take over the online gambling operator and CEO Lahcene Merzoug will be appointed Executive Chairman of the Group
Malta: 23rd November 2022 – PressEnter Group is the subject of a Management Buyout led by Chief Executive Officer Lahcene Merzoug and members of his executive management team.
The transaction will soon be completed with Merzoug taking over as Executive Chairman.
PressEnter Group’s management team consider the group to have significant growth potential and have agreed terms with the existing financial investors to acquire the business.
PressEnter Group will continue to operate out of its modern headquarters in Sliema, Malta, where its highly talented team run its roster of popular brands. These include 21.com, JustSpin, NeonVegas Casino, NitroCasino, UltraCasino and RapidCasino.
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.
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.”