Fortuna Entertainment Group has acquired a 51% stake in Lob, marking a significant investment in Montenegro's gaming sector and positioning FEG for growth in Southeast Europe.

Target Information

Fortuna Entertainment Group (FEG), a prominent omni-channel gaming entertainment provider in Central and Eastern Europe, has recently signed an agreement to acquire a 51% stake in Lob, which is the second-largest operator in Montenegro's gaming sector. This acquisition marks one of the most substantial foreign direct investments in Montenegro in recent years and is pivotal for FEG's expansion within Southeast European markets.

Founded over 25 years ago and headquartered in Podgorica, Lob has developed an extensive network of retail outlets and digital entertainment services throughout Montenegro. The company is recognized as the country's second-largest provider of sports prediction services and gaming entertainment content, with reported revenues of €27.5 million in 2024. Notably, 77% of its business is derived from online operations, with sports betting accounting for 65%. Lob employs over 300 staff and operates more than 100 branches nationwide.

Industry Overview in Montenegro

The gaming and entertainment industry in Montenegro has seen significant growth in recent years, fueled by increasing tourist inflows and an evolving regulatory environment. Montenegro's strategic location in Southeast Europe and its beautiful l