Fortuna Entertainment Group snaps up majority stake in Montenegrin betting operator Lob
FEG is expanding its presence in Southeast Europe with a 51 per cent stake in the Montenegrin betting operator.
Montenegro.- Fortuna Entertainment Group (FEG) has announced that is has acquired a majority stake in Lob, a major Montenegrin betting operator with both retail and digital operations. It now holds 51 per cent of the operator’s shares and said it may increase its stake further in the future.
Headquartered in Prague, FEG already has a presence in neighbouring Croatia and in Slovakia, Poland and Romania, as well as its native Czech Republic. It described its acquisition as one of the most significant foreign direct investments in Montenegro in recent years.
Lob reported €30m in revenue for 2024. While online operations represent around three quarters of its business, it has around 100 retail betting outlets and over 300 staff. Fortuna said it plans to upgrade Lob’s customer engagement channels by investing in technology, AI-driven personalisation and data analytics.
CEO Dieter John, who took the helm of FEG in January, said: “Montenegro is a market with great potential and a clear EU direction. We will significantly invest in Lob, drive its growth and establish best-in-class capabilities and practices.
“Through our partnership with Lob, our goal is to contribute to the modernisation of the entertainment sector, enhance transparency and develop innovative solutions that improve user experience.”
Lob’s chairman Goran Knežević said: “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 remains outside of the European Union but has been in talks to enter the bloc since 2012. Major Montenegrin newspapers have called on the government to reconsider new restrictions on gambling-related advertising, which they say unfairly target domestic private media. The appeal follows the adoption of Montenegro’s updated gambling legislation, led by finance minister Novica Vuković.
