The Betsson Group has acquired TonyBet, the second largest licensed online operator in Lithuania.
TonyBet currently focuses on sportsbook online and also operates more than 20 betting shops in Lithuania.
The acquisition means that Betsson now has licences in Estonia, Latvia and Lithuania.
Ulrik Bengtsson, CEO and president of Betsson Group, said: “This acquisition is a good strategic fit 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 licences in all three markets and continue to pursue growth across Europe, organically and through acquisition”.