Fortuna Entertainment Group (FEG), headquartered in the Czech Republic, has completed its acquisition of a majority stake in TOPsport, Lithuania's leading sports operator. This deal, which was first announced in March as a 70% acquisition agreement, has now officially closed, extending FEG's presence into Central and Eastern Europe.
The group views this acquisition as a significant move to enhance its operations in the Baltic region. Group CEO Dieter John remarked in March that the purchase represents "a decisive step" that aligns with the company's long-term growth ambitions in markets with significant potential.
In terms of responsible gaming and regulatory compliance, FEG, which holds a global G4 certification, has reaffirmed its commitment to safe and sustainable gaming practices.
Gintaras Staniulis, co-founder and strategic consultant of TOPsport, emphasized the advantages of joining forces with FEG, pointing to global scale, technological innovation, and improved responsible gaming standards as key benefits for customers and stakeholders.
Founded in 2002 and based in Kaunas, TOPsport is a major player in Lithuania’s sports betting market, controlling over 50% of the online share. Operating 54 retail outlets throughout the country, the company employs more than 200 people. Financial reports show that TOPsport's EBITDA exceeded €65 million in 2025, with a robust EBITDA margin surpassing 50% and a compound annual growth rate of about 30% since 2020.
The brand enjoys high visibility through sponsorships, particularly its primary partnership with BC Žalgiris, Lithuania’s Euroleague basketball team. According to FEG, TOPsport has achieved a 97% assisted brand recognition rate within the country.
The acquisition is significant for Lithuania, marking a notable foreign investment in the highly regulated gaming industry. The country's gambling sector saw substantial growth, expanding by 16.8% in the first half of 2026 compared to the previous year.
In a related development, Lithuania is planning to implement mandatory "player cards" to monitor gambling activities across both online and in-person venues, beginning 1 January 2029. This initiative will require every gambler to possess a physical card, facilitating tighter controls over gambling behavior and enabling government oversight of deposits and winnings across various operators.
