Betsson Group has acquired the second largest licensed online operator in Lithuania, TonyBet, strengthening the company’s foothold in the Baltic region.
Betsson Group now has licenses in Estonia, Latvia and Lithuania.
TonyBet currently offers its customers primarily sportsbook online and also operates a network of more than 20 betting shops in Lithuania.
“This acquisition is a good strategic fit for Betsson Group as Betsson’s ambition is to increase revenue from locally regulated markets. We have now consolidated our presence in the Baltic region by ensuring local licenses in all three markets, and continue to pursue growth across Europe, organically and through acquisition” Ulrik Bengtsson, CEO and President of Betsson Group said.