Fortuna Entertainment Group (FEG), based in the Czech Republic, has successfully completed its acquisition of a majority stake in TOPsport, Lithuania's leading sports betting operator. This move comes after the initial announcement in March, when FEG revealed a 70% purchase agreement, and marks the formal closing of a transaction that broadens FEG's operations in Central and Eastern Europe.
Group CEO Dieter John emphasized the strategic importance of this acquisition, calling it "a decisive step" in line with the company's ambitious growth objectives in markets with significant potential. The acquisition also underscores FEG's commitment to responsible gaming practices, backed by its global G4 certification, as they aim for safe and sustainable gaming across their platforms.
Gintaras Staniulis, co-founder and strategic consultant of TOPsport, expressed optimism about the merger, highlighting that integration with FEG will bring advantages such as global scale, technological upgrades, and enhanced standards for responsible gaming, all of which benefit customers and stakeholders alike.
Founded in 2002 and situated in Kaunas, TOPsport has grown to dominate Lithuania’s sports betting sector, holding over 50% of the online market share. The company operates 54 retail locations and employs a workforce of more than 200 people. According to financial data released by both companies, TOPsport reported an EBITDA exceeding €65 million for the year 2025, with a margin above 50% and an impressive compound annual growth rate of about 30% since 2020. Additionally, TOPsport's sponsorship agreements, particularly with BC Žalgiris, a prominent Euroleague basketball team, have bolstered its brand visibility, achieving a 97% assisted brand recognition rate within Lithuania.
The acquisition represents one of the significant foreign investments in Lithuania's strictly regulated gaming industry in recent years. During the first half of 2026, Lithuania's gambling sector saw remarkable growth, increasing by 16.8% compared to the same period in 2025. In a move aimed at greater regulatory oversight, the country has proposed mandatory “player cards” that would track individuals' gambling activities across online and physical locations. This initiative is set to be implemented on January 1, 2029, requiring every gambler to possess a physical card for tighter controls and government monitoring of deposits and winnings across various operators.
