Fortuna Entertainment Group (FEG), headquartered in the Czech Republic, has successfully completed its acquisition of a majority stake in TOPsport, a prominent sports operator in Lithuania. This acquisition, first announced in March as a 70% purchase agreement, marks an important milestone for FEG as it enhances its presence in Central and Eastern Europe.
The company views this acquisition as a crucial move toward expanding its operations in the Baltic region. Dieter John, the group CEO, emphasized in March that this acquisition is "a decisive step" in line with FEG's aggressive long-term growth strategy in markets known for their potential.
In its announcement, FEG underscored its commitment to responsible gaming and compliance with regulatory standards. The company holds a global G4 certification, reaffirming its dedication to safe and sustainable gaming practices.
Gintaras Staniulis, co-founder and strategic consultant for TOPsport, remarked on the advantages of joining forces with FEG, highlighting global scale, technological innovation, and improved responsible gaming standards as significant benefits for customers and stakeholders.
Founded in 2002 and located in Kaunas, TOPsport dominates Lithuania’s sports betting market, with more than 50% of the online market share. The company runs 54 retail locations throughout the country and has a workforce exceeding 200 employees.
Financial insights revealed that TOPsport achieved an EBITDA of over €65 million in 2025, boasting an EBITDA margin exceeding 50% and a compound annual growth rate of around 30% since 2020. The brand maintains notable visibility through various sponsorship agreements, including its principal partnership with BC Žalgiris, a Euroleague basketball team based in Lithuania.
FEG reported a 97% assisted brand recognition rate for TOPsport within the Lithuanian market, indicating strong brand presence.
This acquisition marks a significant foreign investment in Lithuania’s tightly monitored gaming sector, which has seen substantial growth. In the first half of 2026, the country’s gambling industry expanded by 16.8% when compared to the same period in 2025.
In addition, Lithuania is set to introduce mandatory “player cards” starting January 1, 2029, intended to track individuals’ gambling activities across online and physical venues. This policy aims to implement more stringent controls over gambling behavior, enabling government authorities to monitor player deposits and winnings across different operators.
