Lithuanian casino operator Nese has ventured into the iGaming sector with the launch of Twinsbet, a new online gambling and sportsbook brand.
This move marks the company's entry into the digital gambling market alongside a sponsorship agreement valued at €7.5m ($8.06m) over three years.
The sponsorship deal encompasses several key elements, including the backing of the Wolves Basketball Club and the acquisition of naming rights to the Avia Solutions Group Arena, the largest indoor arena in Vilnius.
Furthermore, Twinsbet has enlisted the Lavrinovic twins, former basketball players, as main ambassadors for the brand.
Alvidas Paulikas, Nese CEO, said: "Twinsbet is centred around the idea that we believe in sports. For this reason, we are heavily investing in and supporting sports, including the Wolves basketball club and the Twinsbet Arena, as well as other collaborations we are currently investigating and are always open to. We plan to support local teams and non-professional sporting activities in new markets that we will enter soon."
Andrius Ziauberis, CEO of both the Wolves Basketball Club and the Twinsbet Arena, added: "We are the only top-tier Lithuanian basketball club operating without any support from municipalities and so this sponsorship deal will pave the way for sustainable growth. Strong teams can inspire generations both on and beyond the court and this deal builds a solid foundation for an engaging fan experience."
The move into iGaming comes amid growth in the Lithuanian gambling market, with online gaming comprising more than 65% of the total market. In 2023, the total gaming market exceeded €222m, representing a 13% increase from the previous year.
This development builds upon recent industry partnerships in Lithuania, including Hacksaw Gaming's collaboration with TopSport.
