Baltics
The importance of reg-tech for new market expansion

Mark Chakravarti, Investment Director at SportingWin, talks about the operator’s experience of securing a licence in Bulgaria and how it will now use its in-house regulatory platform to enter additional European markets
I would argue that a proprietary regulatory platform is the most important thing for operators looking to drive European market expansion. Without a modern, agile platform that provides the insight that regulators require, licence applications will be drawn out for months and even years.
At SportingWin, we came to learn this the hard way.
When we started the business back in 2019, we identified Bulgaria as being a market of huge potential and one that we were keen to make our debut. Based on our assessment, AGR would hit 20% a year for the next five years, leading to a market value of €500m per year.
We then set about compiling the legal paperwork required by the National Revenue Agency for the licence application – this was a significant task in its own right, but we would soon learn that this was just the very start of the process.
The Bulgarian regulator is one of the most stringent in the world, which of course is a good thing. It ensures that the operators that do secure approval to enter the market are of the highest calibre especially when it comes to responsible gambling.
Under its requirements, operators must be able to deliver certain insights and information to the regulator in real time and this in turn requires a powerful, agile regulatory platform. Ultimately, we took the decision to develop this technology in-house.
While this was the right course of action, it significantly slowed down our licence application process while the regulator and our in-house development team worked together to ensure that it was fully compliant with its requirements.
We eventually reached the point where the National Revenue Agency was happy with the paperwork we submitted and our proprietary reg-tech platform, giving us the green light to enter the market in January 2021. Since then, we have gained incredible traction with players.
As with most operators, we are now looking to take SportingWin into additional markets and our in-house developed regulatory platform will be the foundation for building out our presence across the region. It really is impressive and now that it has been certified in Bulgaria, it can be used elsewhere.
We have identified Romania as our next market and while we have yet to submit our application to the regulator, our proprietary regulatory platform will ensure it is a much easier – and faster – process than that in Bulgaria.
This is for several reasons. Given just how stringent the National Revenue Agency is with its standards and enforcing them, other jurisdictions are happy to approve our platform without subjecting it to the same level of scrutiny again.
The same applies to a lot of the paperwork that we completed as part of our application in Bulgaria – for example, the Romanian regulator is happy to carry this over as well as the technical and software certifications that we were granted.
Of course, local regulators will still carry out their own investigations and will want to test certain aspects of our platforms, tech and software, but much of the hard work has already been done and this will allow us to enter additional markets at pace – we anticipate being live in Romania in H1.
In addition to an in-house regulatory platform, approved paperwork and the experience of having been through a licence application, the final piece of the puzzle operators need is a European trademark for their brand/brands.
We have recently secured this for SportingWin and it really does put us in the driving seat to identify and enter regulated European markets with an incredibly strong brand, superior product offering and a powerful regulatory platform running in the background.
Because of this, SportingWin is an attractive proposition for investors looking to join our success story. Due to the technical foundations we have in place, the investment we secure is pumped into marketing our brand in each country, which in turn allows us to generate significant share quickly.
Despite having been live in Bulgaria for only a year, we have a large and loyal player base and in Q4, generated €500,000 in NGR. This is set to grow significantly off the back of our recently-announced partnership with Pinnacle, allowing us to add a betting exchange to our offering for the first time.
As with most small to medium-sized operators, the team behind SportingWin has a long-term plan for the business and that is to grow it into an exciting acquisition opportunity for one of the power players looking to build their presence in regulated markets across Europe.
Without our proprietary regulator platform, European trademark and growing collection of licences, SportingWin would simply not be on the radar of these organisations, let alone be considered a serious M&A opportunity.
Of course, there is still a lot of work to do before we reach that chapter of our story but given that the founders of SportingWin have built and sold betting businesses before, it is one that I am confident we will write in next to no time at all.
Meanwhile, we will continue to use our regulatory platform to launch our player-favourite brand and superior betting experience into markets across Europe, generating substantial revenues from each of the jurisdictions we target.
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Baltics
Lithuania Implements New Restrictions on Gambling Advertising

Lithuania has implemented new stricter restrictions on gambling advertising.
According to the Gaming Control Authority, the changes are transitional before a full ban on gambling advertising comes into force in 2028. Until then, gambling advertising will be restricted but allowed.
“The aim of the amendments to the Gaming Law is to reduce the accessibility of gambling and the harm it causes to society,” Sandra Vitkevičiūtę, an advisor at the Authority, said.
From July 1, gambling organisers will be able to advertise their names and brands only on their headquarters or gambling venues, while other external advertising is banned. Companies will also be able to advertise their name and trademark on their website.
Only publications dedicated to the gambling business will be allowed to publish information about gambling.
Only betting commercials will be allowed on TV, radio and the internet, but they will be limited to 15 seconds and aired no more than three times an hour between 06:00 and 18:00 and no more than twice an hour between 18:00 and midnight.
Moreover, online betting ads must not be linked to betting websites.
From July, gambling operators can still sponsor sporting events, organisations, sports broadcasts and athletes, as well as cultural or artistic events and their broadcasts.
However, the names of gambling companies can no longer be used in the names of sports clubs or leagues, but they will still be allowed to appear next to the sponsored club or athlete.
The post Lithuania Implements New Restrictions on Gambling Advertising appeared first on European Gaming Industry News.
Baltics
HIPTHER Community Voices: Interview with the CEO and co-founder of Nordcurrent Victoria Trofimova

In this edition of HIPTHER Community Voices, we talk with Victoria Trofimova, the CEO and co-founder of Nordcurrent, the biggest game studio to come out of Lithuania and the Baltics. Since starting the company in 2002, Victoria has led Nordcurrent from a small team to an international gaming success story — all without external funding.
She shares how key decisions like focusing on mobile games, building a diverse team, and staying true to their creative vision helped shape Nordcurrent’s growth. We also dive into how she’s helping put the Baltics on the global gaming map, supporting young talent, and what advice she has for the next generation of women leaders in tech.
Nordcurrent has grown into a Baltic powerhouse since its founding in 2002. What were some of the pivotal moments that shaped the studio’s identity and success—especially as a bootstrapped company?
One key moment was our decision to focus fully on mobile gaming early on. That shift, around 2010, allowed us to scale globally with titles like Cooking Fever, which became a long-term success story. Another pivotal step was building and retaining in-house capabilities, from development to marketing, while staying self-funded. Being bootstrapped taught us discipline, resilience, and how to make bold yet thoughtful decisions without external pressure.
You’ve scaled a 360-person team across multiple countries. What have been the biggest challenges—and advantages—of growing Nordcurrent without external funding?
The biggest challenge has been growth pacing. We had to build sustainably, without shortcuts. But that’s also been our advantage; we’ve kept creative control, built long-term trust with our team, and stayed focused on profitability and product quality. It’s a different rhythm, one that favors deep thinking over hype.
Diversity in gaming is still lagging behind. What concrete steps has Nordcurrent taken to drive inclusion, and how do you embed this into studio culture, hiring, and leadership?
We don’t overcomplicate it, we hire the best people who want to build great games with us. We don’t separate or label by gender, background, or title. If someone brings talent, drive, and a collaborative mindset, they belong here. That approach has naturally led to a diverse team, including strong female leadership across departments. We focus on creating an environment where everyone is treated equally, trusted, and heard.
You’ve spoken about attracting global talent to Lithuania and the Baltics. What makes the region appealing—and what misconceptions do you often have to overcome when recruiting internationally?
The Baltics offer a great work-life balance, strong tech ecosystems, and a tight-knit creative scene. But we still need to overcome outdated perceptions; for example, that it’s cold, isolated, or lacking opportunity. The truth is, Vilnius and other cities here are dynamic and are increasingly being recognized for innovation.
In such a saturated gaming market, how does Nordcurrent approach innovation and stay relevant without falling into trend-chasing?
We listen deeply. To players, to data, and to our instincts. With over two decades of experience, we’ve built a rich internal library of what works, what lasts, and what connects. Innovation for us isn’t about reinventing the wheel every time. It’s about layering insight, emotion, and cultural nuance onto strong foundations. We don’t chase trends, we ask how a game fits into people’s lives. That’s why titles like Airplane Chefs resonate. They’re familiar yet fresh, culturally rich but globally accessible. Years of learning has given us the confidence to trust our gut and the clarity to know when to try something bold.
From mobile hits to console and PC publishing—how has your portfolio strategy evolved, and how do you decide what kinds of games to invest in today?
Our mobile success gave us the freedom to diversify. With Nordcurrent Labs, we now publish PC and console games that align with our values: original IP, strong storytelling, and long-tail potential. We look for teams with vision and grit, whether it’s cozy games or narrative-rich adventures.
You recently acquired River End Games and the Cinemaware catalog. What’s the strategic thinking behind those moves, and what can players expect from these legacy properties going Forward?
River End Games brings deep narrative talent and AAA craftsmanship, which complements our publishing ambitions. With Cinemaware, we’re reimagining classics for a new generation. These acquisitions aren’t about nostalgia only, they’re about unlocking untapped creative value in ways that feel both respectful and bold.
How are you helping to nurture the next generation of game developers in the Baltics, and what role do you think studios should play in education or early talent development?
We take this responsibility seriously. As the largest Lithuania-born game developer, we feel a strong duty to help grow the industry, not just our studio. We actively collaborate with the Lithuanian Game Developers Association, support local game jams, and organize major meetups that bring the community together. Our goal is to make the gaming industry more visible, more accessible, and more appealing, especially to young people who may not yet see it as a real career path.
It’s not just about hiring talent, it’s about helping to create it. We believe studios should take an active role in popularizing the industry, opening doors, and building a future where game development is seen as a creative and respected profession.
You’re leading a company that’s rooted in Eastern Europe but competing on a global stage. How do you balance local values with global ambitions?
We don’t see it as a conflict. Our roots give us authenticity and resilience, and these are qualities that resonate globally. We build games that are grounded in strong craft and cultural richness but are universally relatable. Staying true to who we are has been our best strategy for going global.
And finally—what advice would you give to aspiring women leaders in tech and gaming who want to break into this industry and rise through the ranks?
Own your voice. You don’t need to fit a mold to lead. Surround yourself with people who challenge and support you. And remember, leadership isn’t just about a title, it’s about taking responsibility, lifting others, and staying curious. Tech and gaming need your perspective, and there’s room for you at the table.
The post HIPTHER Community Voices: Interview with the CEO and co-founder of Nordcurrent Victoria Trofimova appeared first on European Gaming Industry News.
Baltics
Betsson Group Rolls Out Its Flagship Offering in Lithuania

Betsson Group has today launched its flagship brand, Betsson, in Lithuania, marking a new chapter in the Group’s ongoing strategy to unify and elevate its brand presence globally. The rebrand sees the former Betsafe operation transition to the Betsson brand, further strengthening the company’s positioning in regulated markets.
Betsson Group first entered the Lithuanian market in 2016 through the acquisition of TonyBet, which was rebranded as Betsafe the following year. Since then, the brand has gone from strength to strength, establishing itself as one of the leading operators in the country. The transition to Betsson reflects the Group’s ambition to bring even greater consistency, scalability, and brand recognition to its operations across regulated markets. For Lithuanian customers, it ensures the same trusted and seamless gaming experience – now backed by the strength of a globally recognised brand, with expanded resources, international partnerships, and unique fan engagement opportunities.
Jesper Svensson, CEO at Betsson Group, commented, “Lithuania has been an important market for us over the years, and this rebrand is a natural next step in our journey. By aligning our presence in the market under the Betsson brand, we can tap into broader marketing synergies, strengthen our global identity, and continue offering the same great service that our customers know and trust.”
The rebrand reflects Betsson’s ongoing investment in Lithuania, where the company moved into a larger office in Vilnius’ Central Business District just over two years ago. Today, the office is home to around 40 employees working across commercial, payments and support functions.
Over the years, the Group has also built strong local partnerships that demonstrate its commitment to sport. Betsafe is the title sponsor of the Lithuanian Basketball League (Betsafe-LKL), one of the most competitive leagues in the region. The brand also supports both the men’s and women’s Lithuanian national basketball teams, and is a proud sponsor of football club FC Žalgiris.
This brand transition also aligns with Betsson Group’s broader international marketing strategy. The Group is actively investing in high-profile sports sponsorships, including partnerships with Boca Juniors and Racing Club in Argentina, Inter in Italy, Atlético Nacional in Colombia and several other clubs across Europe and Latin America. These global initiatives not only raise brand awareness but also bring added value to local markets like Lithuania through stronger brand recognition and cross-market campaigns.
The post Betsson Group Rolls Out Its Flagship Offering in Lithuania appeared first on European Gaming Industry News.
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