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Lithuania – Olympic secures online betting licence in Lithuania

By - 17 December 2013

Olympic Casino Group Baltija UAB, a subsidiary of the Olympic Entertainment Group (OEG), has been issued with a license to offer sports betting games in Lithuania.

OEG offers sports betting under OlyBet trademark, launched in August 2013 with licenses already operational in Estonia and Latvia. OlyBet will begin operations in Lithuania in the first quarter of 2014. In addition to the online sports betting platform, OEG will also expand its network of OlyBet Sports Bars into Lithuania.

Madis Jääger, CEO of OEG, commented: “Lithuania already has a large sports betting community and we are really exited to be able to expand our sports betting operations into such an active market being the fifth operator to receive the sports betting license in Lithuania. In order to offer online sports betting services in Lithuania, operators must also have land-based sports betting venues. That makes expanding our sports betting operations truly fitting as our new OlyBet Sports Bars concept is unique to Lithuanian market and online solutions meet the highest standards of the industry.”

In March this year, Olympic established and registered the companies Gametech Services and Brandhouse in Jersey to create a legal platform for the expansion of the group’s activities in markets related to online gaming.

Olympic Casino Latvia SIA started providing online gaming services in Latvia from 1 August 2013. In addition, the Group launched sports betting and sports bar network under Olybet name, a new brand for online services.

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