Fortuna Entertainment Group (FEG), a major omni-channel iGaming and sports betting operator in Central and Eastern Europe, has announced its expansion into Montenegro through the acquisition of a 51% stake in Lob, one of the country’s largest gaming operators. The agreement includes an option to increase FEG’s ownership over time.
Lob, headquartered in Podgorica, has operated for more than 25 years and maintains a nationwide presence through both retail and digital channels. The company reported €30 million in revenue in 2024, with 77% of its activity taking place online and 23% through retail outlets. Sports betting represents 65% of its business, while gaming accounts for the remaining 35%.
The acquisition strengthens FEG’s footprint in Southeast Europe and represents one of Montenegro’s largest recent foreign direct investments. The company plans to introduce advanced technology management, AI-driven personalisation, and analytics solutions to enhance Lob’s operations and digital offerings.
FEG is also in the final stages of obtaining G4 certification, reflecting its adherence to international standards of responsible gaming and player protection. The move underscores FEG’s strategy of regional growth and commitment to transparency and technological innovation within regulated iGaming markets.
“Montenegro is a market with great potential and a clear EU direction. We will significantly invest into Lob, drive its growth and establish best in class capabilities and best-practices. Through our partnership with Lob, our goal is to contribute to the modernization of the entertainment sector, enhance transparency, and develop innovative solutions that improve user experience.” said Dieter John, Group CEO of Fortuna Entertainment Group.
“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,” said Goran Knežević, Lob Chairman of The Board of Directors.
