There have been various talks held by the main shareholder of Laguna Holdings, where he aims to raise an amount to the likes of $ 70 million by selling shares of Tenlot, a company that provides technological platforms for its gambling and lottery services. The man outright owns Tenlot on the Stockholm Stock Exchange in Sweden. The country of Sweden has become somewhat of an epicenter for gambling-related trade in Europe as there are 19 public gambling companies which are available for trading: more than any other European country!
Born in Croatia, and having lived all over Eastern Europe, Jacob Engel appears to be a man that has picked a wide range of talents. On top of working as a real estate agent and owning a highly successful real estate agency, he also has his finger on a number of international mining projects. This is the man that has started the process of raising $ 70million. So far there has only been a few talks between him and various underwriters. But it is known that he plans to gain this money for Tenlot, his gambling company, by launching a $ 500 million IPO on the Stockholm Stock Exchange.
Tenlot operates and provides services in both Africa and Latin America, among a few smaller countries. The company delivers a service to these countries that offers a platform whereby residents can play lottery, sports games and other casino-related games. Tenlot is completely established and runs its sales through government agencies within the countries they supply to. So far, it has been very successful.
Guatemala is one of the countries where Tenlot has recently established itself. The country has well over 18 million residents, providing a massive potential customer base. Tenlot has employed dozens of local people and experienced a success in many hundreds of lottery sales points, proving that this business model has massive potential in this sort of environment. The company has already been given an operating license which is valid for 25 years, so Tenlot has plenty of time to introduce sports games and others to their customers, and test the waters.
Ghana is yet another country where Tenlot has set up points of sale: 10,000 to be exact! This country also has huge potential, with a huge population of 28 million. Tennot has been given a 20 year trading license, and works in close partnership with the government. The company has set themselves the target of tripling their yearly sales in the next two years.
It is clear that Tenlot has big plans for the future as they have invested millions in the adaption of the technology they use to create their casino games. They plan to branch out even further and provide their services to countries like Uganda, Mexico, Kenya, Tanzania, and Mozambique, where there are not many gambling and lottery options available. As they already operate in neighboring countries, it ups their chances of receiving the required operating licenses. On top of expanding the countries they operate in, they also plan to expand their games to include scratch cards, sports betting and other casino games. It appears as if Tenlot may have tapped into an unsaturated market.
The various governments of the countries in which Tenlot operates do not give these operating licenses out for free. Governments receive, in certain cases, impressive royalties from Tenlot’s annual revenues. These revenues are especially earmarked for certain developments in the country, including social donations, hospitals, schools and other social developments, thus assisting the countries in which Tenlot games are available.
Yossi Abadi is Tenlot’s CEO and he admits that the company has a goal to become one of the world’s leading lottery and sports betting companies in the world within the next three years, and that they plan to achieve this by focusing on markets which show the best potential. With the way things have been going for them, this goal seems highly possible.
It is estimated that Tenlot’s annual revenue is a cool $ 150million. Tenlot is now featured on the ever-popular Swedish Stock Exchange, which has become an epicenter for European trading in recent years, and is used by numerous gaming companies. It is the only true European competitor up against the famous London Stock Exchange. Stockholm is known for being the pinnacle of iGaming’s European offerings.
As aforementioned in this article, Stockholm’s stock exchange plays host to a total of 19 companies that fall under the ‘gambling and casino’ sector. Only 16 are traded in London, so Stockholm has already shown its popularity in that regard. Other European stock exchanges show even fewer numbers, with Switzerland, France and Germany allowing just 4 public gambling companies to be traded in each country. Stockholm’s massive popularity can be somewhat attributed to the community support, lenient gambling laws, and the many number of online gamblers. Local investors have relevant knowledge when it comes to the industry, allowing them to invest effectively.
There are various knowledge sharing centers in Stockholm, but one of the most esteemed is Better Collective. This company was set up with the goal of sharing relevant information about gambling, investing in gambling companies and the better odds in sports betting. Its transparency has brought credibility to the industry.
Yet another popular company that is traded in Stockholm is Leo Vegas. This company operates as an online casino that offers players a vast array of online games among various other gambling services. Leo Vegas has over 600 employees and an impressive market value of $ 450 million. Their revenue amounted to 78.6 million in 2018’s third quarter. The other gambling companies listed on Stockholm’s exchange are of a very similar caliber and are popular around the world from the UK, to Canada and especially New Zealand.
Engel truly does have an interesting past, venturing into many different industries. He has lived mainly in Israel, with the majority of his focus being centered on the real estate industry. In the early 1990s, he started his own real estate company in Tel Aviv called Engel (LagnaRescources). The company did very well as during this period there was a lot of immigrants coming over from the Soviet Union, and Engel built thousands upon thousands of housing units. Engel branched his company out into Eastern Europe, becoming very well-known and dabbling in various construction projects. During its time under Engel’s reign, his company acquired thousands of residential properties in the countries of Romania, the Czech Public, Poland, Bulgaria, Hungary and Germany.
In 2007, Engel sold his real estate company to a famed business man named Shaya Boymelgreen. Boymelgreen is known for being exceptionally Orthodox and paid $120 million for the company. Unfortunately, Boymelgreen drove the company into the ground, causing it to become completely insolvent.
Although Engel sold his real estate business over a decade ago, he is still looked to as an expert in the industry. He has many properties in Israel, particularly TAMS 38 projects, in which he aims to provide strength and structure to buildings, adding to his credible reputation.
From the world of real estate, Engel then moved onto mining, where has also proved to be a shining success. He is part of the very prestigious Elenilto Group, which have won many impressive tenders. One such tender gave the group permission to create a mine in Togo. This was worth $ 1.4 billion in fertilizers and phosphates, which is the company’s specialty. The Elenilto Group will also be part of a group of companies that will take part in mining an estimated $ 5 million tons of these substances each year. This particular project aims to reach a revenue of $ 28 million. Another one of the company’s successes its win of one of the world’s biggest mining tenders, which it won in 2010. The proposed tender included the mining of iron ore in Liberia. Even though the tender promised huge profits, Engel sold the concession for a total of $123 million.
More recently, Engel has adapted to the times and has become involved with technology. He has a passion for finding and funding promising start-ups, which he does through his ATOORO, his successful investment fund. Further to this, he has been involved with a total of 14 different start-ups. While some are in cellular industries and others in cyber tech, they all fall under the sphere of technology. One of ATOORO’s most fruitful investments comes in the form of Cyber Infidio, a company that specializes in cyber-attack protection. This company cost him $ 5 million to acquire but it has definitely brought him credibility within the tech industry.
Is there anything that Engel cannot achieve? The real estate, mining, investment, technological and now gambling industries have all been impacted by him. It seems as if he has the golden touch and that extends to include his new company, Tenlot. While Tenlot is still relatively unknown, when comparing it to massive software providers like iGaming, it is sure to experience further success. Tenlot is definitely a company to keep an eye on, especially on the Stockholm Stock Exchange.
Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>