Enlabs launches Optibet-branded sportsbook in Lithuania
Enlabs launches Optibet-branded sportsbook in EstoniaEntertainment Laboratories (Enlabs) has launched an online sportsbook for its Optibet brand in the regulated Lithuanian market, as well as rolling out an Evolution Gaming-powered live casino offering in Estonia.
The Nasdaq First North-listed operator explained that the roll-out of online betting was another step “towards becoming the biggest and best operator in Lithuania”. The product, which was developed in-house, will create more opportunities for customer acquisition, increased revenue and an improved profit margin, it said.
It also complements its retail betting offering. Lithuanian gaming regulations state that operators must maintain a land-based presence to launch online, and Enlabs currently operates 21 betting shops under the Optibet brand.
The operator’s chief commercial officer Miko Salo described the online sportsbook launch as “a very important milestone” for Optibet.
“Lithuania is the market where we see the greatest growth potential in the whole [Baltic] region,” he explained. “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.”
Enlabs president and chief executive Robert Andersson said the roll-out was a step towards the operator’s ambition of being the biggest operator in the Baltics.
“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,” Andersson explained. “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.”
In related news, the operator has added a live casino product to its Optibet-branded offering in Estonia. Enlabs described the launch as the first stage of a new, long-term partnership with Evolution Gaming.
Head of product Chris Davis described the move into live casino as a big opportunity for the business.
“Live casino has become a popular product and the fact that Evolution Gaming is the market leader in this vertical, we have no doubt that this partnership will generate continued growth for what is already our fastest growing brand,” he explained.
“The Evolution Gaming integration is part of a larger focus on the live casino vertical,” Davis continued. “To compliment this new provider arrival, we have also revamped our live casino lobby and have improved our promotional capabilities.”
Andersson added: “With this, we have delivered on all our launch plans for Q2 and will continue our plans for Q3 and Q4. On top of many minor launches and updates we have now also delivered [affiliate site] BestCasino for the US, the new betting product in Lithuania, poker and now Evolution Gaming in Estonia.
"All this sets us up for a strong finish to the year and further strengthens our position as the most competitive operator in the Baltics and beyond.”