Lithuania's land-based casino operator Nese enters iGaming with launch of Twinsbet brand

Lithuania's oldest land-based casino operator, the Nese group, has entered the iGaming and sportsbook market with the launch of Twinsbet, a new brand with a focus on sports sponsorships.

The brand new company has entered into a 3-year long, €7.5 million ($8.04 million) sponsorship deal with the Wolves basketball club and secured the Avia Solutions Group Arena naming rights.

Twinsbet enters the competitive Lithuanian market with naming rights to the largest Vilnius indoor arena, title sponsorship of the Wolves basketball club competing locally and in the Eurocup, and former basketball players the Lavrinovic twins as main ambassadors. 

This sponsorship deal is worth at least €7.5 million for the next three years and may increase to €10 million if certain conditions are met, Nese said in a statement.

The sports and iGaming sponsorship deal is among the largest in Lithuanian history, according to the company. Nese will seek further collaborations with various sports organizations, focusing on both professional and leisure sports activities, the brand said.

According to Alvidas Paulikas, Nese's CEO, the company aims for the leading position locally and seeks to become the first Lithuanian operator to expand internationally.

"Twinsbet is centered 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," says Paulikas.

Andrius Ziauberis, the CEO of both the Wolves basketball club and the Twinsbet Arena, said that the deal with Twinsbet will strengthen both the organization and the entire Lithuanian sports community.

"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," Ziauberis says.

According to the regulator, the total Lithuanian gaming market amounted to €222 million (about $238 million) in 2023, a 13 percent increase from 2022. More than 65 percent of the market is online. The total amount wagered exceeded €2 billion (about $2.14 billion) for the first time in 2022.