5 Lions

What is 5 Lions?

Merkur Spielbanken Beteiligungs GmbH, a subsidiary of Merkur AG has reached an agreement to acquire a controlling interest in Société Française de Casinos (SFC).

The development marks a significant move by Merkur to expand its footprint within the French regulated gambling market.

On 27 August, Merkur signed a put option agreement with GPG Groupe Philippe Ginestet and DOFA, enabling the purchase of Casigrangi.

About 5 Lions

For reference, Konstakis is no stranger to OpenBet’s business. He has been involved with the business for a while, serving as its president. In this role, he has been closely involved in “driving the operational and commercial execution of the business and shaping its strategic priorities.”

In his new role, Konstakis will be responsible not only for OpenBet’s strategy, but also for its day-to-day business, growth initiatives, and tech priorities. At the same time, he will be tasked with “raising the bar” in how OpenBet serves its clients.

OpenBet emphasized that this change comes at a strong moment for the company and follows its incredibly successful delivery for customers through the World Cup. Throughout the tournament, OpenBet processed 175 million bets totaling $3 billion.

What is 5 Lions?

Meanwhile, cost-saving efforts have seen retail shops and operational roles cut this year. And the group has chosen to exit its CEE business and sell off a significant share.

In August newly appointed CFO Michael Snape said the move was expected to de-lever, unlock and return capital to shareholders.

Future proceeds from Entain’s full exit of Entain CEE will be used to reduce group reported leverage below 3x, with excess capital returned to shareholders, the company said.