Launching betting in Lithuania

2019-07-03

Download PDF
Since late last week Enlabs offers online betting for the Lithuanian market on Optibet, the Baltics leading gaming brand.

In October 2018, the Optibet brand was launched in Lithuania with a strategic decision to position itself as the largest online casino in the market. Optibet already offers the largest range of casino games and promotions in Lithuania so the decision has been made to extend the product range with the addition of betting. The demand for betting is high and this launch is another step towards becoming the biggest and best operator in Lithuania. With a new improved, in house developed, betting product there are great opportunities for customer acquisition, increased revenue, improved profit margin and a generally more diversified revenue model.

The Lithuanian gaming market has only seven online licensed operators, and one licensing requirement is that a gaming operator must have land based operations. Enlabs is running 21 betting shops in the country, all under the Optibet brand.

"The launch of our own developed betting product is a very important milestone for Optibet in Lithuania, the largest of the Baltic states by population. Lithuania is the market where we see the greatest growth potential in the whole region. The fact that we can now deliver a broader product portfolio gives us great opportunities to accelerate our growth. We have clear indications of high demand for betting in Lithuania which makes me optimistic about the future. It has been a brilliant effort by the team and with the product out on market we will continue to offer Lithuania's best customer service." says Miko Salo, Chief Commercial Officer of Enlabs.

Robert Andersson, President and CEO, continues: “This is a key launch for the entire Enlabs. Of course, that we offer betting in Lithuania means a lot to our business in this country, but it is also another big step towards being the obvious choice as an operator in "The Baltics and beyond". It demonstrates the strength we have throughout the organisation, but above all it proves our technical expertise when we now launch a newly developed betting product on our new dynamic platform. This means that the new platform will become an even more competitive product, which in the long run will lead to significant efficiency gains throughout the organisation.”

Optibet is Enlabs primary gaming brand offering casino, live casino, betting, poker and bingo to customers in the Baltics and neighboring markets. Optibet has positioned itself as a full-service operator in the Baltic states with high brand awareness through, for example, sponsorship agreements with the highest league in both football and ice hockey in Latvia. Optibet holds gaming licenses in Estonia, Latvia, Lithuania, Malta, Curacao and Sweden and sees regulatory compliance and responsible gaming as self-evident.

Robert Andersson

CEO and President

[email protected] / +371 2 7327810

Miko Salo

Chief Commercial Officer

[email protected] / +358 45 114 5531

About ENLABS

ENLABS stands for Entertainment Laboratories. We are a company that creates entertainment through innovative thinking within three business areas: Gaming, Media and Solutions. The corporate group has offices in Tallinn, Riga, Vilnius, Malta, Marbella and Stockholm. The operating subsidiaries hold national licenses for their operations and the Group employs approximately 200 employees. ENLABS AB is listed on Nasdaq First North in Stockholm. The company's Certified Adviser is Redeye, +46 (0) 8 121 576 90, [email protected]

For more information, visit enlabs.se

Subscribe to our press releases & reports