Central and Eastern European betting and gaming operator Fortuna Entertainment Group (FEG) is entering the Montenegrin market after acquiring a majority stake in local operator Lob.
Fortuna has acquired a 51 per cent in stake in Lob, the second largest operator in Montenegro with over 100 betting shops and a growing online betting and gaming platform, Lobbet.me.
Fortuna said that the agreement marked one of the largest foreign direct investments in Montenegro in recent years and a major milestone in strengthening the company’s footprint across Southeast Europe.
“This important step supports our long-term ambition to lead regulated gaming entertainment markets across Central and Eastern Europe,” said Fortuna Entertainment CEO Dieter John. “Lob’s strong market position and digital-first approach make it an ideal partner for our expansion in the region.”
Lob chairman Goran Knezevic commented: “The partnership opens a new chapter for our company. Cooperation with an international investor who shares our values of professionalism and responsible business will enable further development and growth within the sports entertainment sector.”
Montenegro becomes Fortuna’s sixth operating market, alongside the Czech Republic, Slovakia, Poland, Croatia and Romania.