FEG chief positions CEE operator as consolidator amid tighter regulation
Fortuna Entertainment Group CEO Dieter John tells SBC News the Central and Eastern European group is primed to acquire premium local brands as taxation and compliance costs squeeze smaller operators.
Dieter John, chief executive of Fortuna Entertainment Group (FEG), has set out plans to position the Central and Eastern European operator as the lead consolidator in a region he expects to see significant merger and acquisition activity over the coming years.
Speaking to SBC News in Lisbon, John said FEG was the "natural consolidator" in the region, pointing to the group's history of expansion since it entered Czechia in 1990 and Slovakia the following year, before moving into Poland in 2005, Romania in 2015 and Croatia in 2017.
That run of market entries was followed by an eight-year pause, which John said was needed to rebuild the group's technology and product base before resuming expansion.
The region has drawn significant interest from larger international operators. Entain established its Entain CEE joint venture in 2023 but is now withdrawing from it, while Flutter has also been expanding its presence across the area, according to SBC News.
John argued that tightening regulation and taxation across CEE markets, many of which remain heavily retail-driven, would push smaller, owner-led operators out of business and create openings for FEG to acquire them.
"The long tail will disappear because they cannot afford higher taxation or a more responsible gaming environment, and for us this is a good opportunity for us to invest in companies we think can add value, create synergies, and integrate well into our portfolio," John said.
He added that FEG's acquisition strategy is limited to brands ranked number one, two or three in their respective markets.
Financial backing from Penta Investments, which John said has owned Fortuna for 21 years, underpins the group's expansion plans. Penta supported FEG's move into Lithuania through its acquisition of TOPsport in 2026.
"Penta is strongly standing behind us, pushing more than ever and trusting us. That's why we can invest and can go to new markets," John said.
John, who previously held senior roles at Airbus, Bombardier and German real estate firm Planet Home Group, has brought management practices from outside the gambling sector into FEG's current five-year plan, known as FEG 2.0.
Speaking on a panel at the SBC Summit alongside the Deputy CEO of Super Technologies, a rival operator in Romania, John said experience from other industries was transferable when it came to integrating acquisitions and building leadership teams.
He said he had replaced around 80% of FEG's leadership since taking charge, bringing in executives from different nationalities and backgrounds, and pointed to the group's "Fortuna Fit for Future" employment programme, introduced roughly two years ago, as part of the same drive.
"My aim is to establish the Fortuna Entertainment Group as the best international employer of choice. A vision is good, but to make it happen, you need to have a strong engine," John said.
John said FEG's 26 years of experience in the region gave it an advantage over newer entrants, describing the company as having the strongest geographic footprint of any operator in CEE and citing what he called strong GDP growth across the region over the past two decades.