Fortuna Entertainment Group (FEG), based in Prague, has reached an agreement to acquire a 70% stake in TOPsport, a prominent betting operator in Lithuania. This acquisition signifies FEG’s entrance into Lithuania, the most populous region in the Baltics, aligning with the group’s strategic goal of strengthening its position in regulated European markets.
TOPsport is recognized as Lithuania’s largest online sports betting and gaming operator, holding an approximate 50% market share in the country. The company has a substantial retail presence, with 54 locations spread across Lithuania.
Founded in 2002, TOPsport reported an EBITDA of €65 million for 2025, showcasing a robust compound annual growth rate of around 30% since 2020, while maintaining EBITDA margins exceeding 50%. The company employs over 200 individuals.
Dieter John, the CEO of FEG, stated, "The Baltics represent a region with high growth potential for FEG, and entering Lithuania by acquiring the market leader is a decisive step in our ambitious long‑term growth strategy. This is a smart and forward‑looking investment, and we expect it to create substantial value for our business in the years ahead."
TOPsport benefits from significant market positioning, bolstered by sponsorship agreements such as its partnership with BC Žalgiris, Lithuania’s sole EuroLeague basketball team. It also holds title sponsorship for the top domestic football league (TOPLYGA) and collaborates with the Lithuanian Football Federation.
Gintaras Staniulis, co-founder and strategic consultant at TOPsport, remarked on the acquisition: "After more than two decades, TOPsport has become an inseparable part of Lithuania’s sports and entertainment landscape. FEG brings global scale, technological strength, and responsible gaming standards that will elevate the business to new heights.”
The gambling revenue in Lithuania continues to grow, indicating the country’s resilience within Central and Eastern Europe. The acquisition is pending regulatory approval in Lithuania.
