Fortuna Entertainment Group (FEG), based in the Czech Republic, has officially completed its acquisition of a majority stake in Lithuania's leading sports operator, TOPsport. This milestone comes after the initial announcement in March, when FEG revealed its intent to purchase 70% of the company. By finalizing this deal, FEG is expanding its presence in Central and Eastern Europe.
Group CEO Dieter John characterized the acquisition as a pivotal move aimed at enhancing the company's growth strategy in the Baltic region. He referred to the purchase as "a decisive step" that aligns with FEG's long-term ambitions in markets ripe with potential.
FEG's commitment to responsible gaming and regulatory compliance remains paramount. The company, which holds a global G4 certification, reaffirmed its dedication to maintaining safe and sustainable gaming practices.
TOPsport, established in 2002 and headquartered in Kaunas, is the dominant force in Lithuania's sports betting market, with more than 50% of the online market share. The company has a network of 54 retail outlets across Lithuania and employs over 200 people. Its co-founder and strategic consultant, Gintaras Staniulis, emphasized the benefits that come with joining forces with FEG, including global scale, technological advancements, and improved responsible gaming standards, all of which will enhance the experience for customers and stakeholders alike.
According to financial data, TOPsport achieved an EBITDA exceeding €65 million in 2025, with an impressive EBITDA margin above 50%. The company has seen a compound annual growth rate of around 30% since 2020. TOPsport's brand visibility is further bolstered through sponsorships, notably with BC Žalgiris and the Euroleague basketball team in Lithuania. FEG reported that TOPsport enjoys a remarkable 97% assisted brand recognition rate within the country.
This acquisition also marks a significant foreign investment in Lithuania's heavily regulated gaming sector in recent years. The Lithuanian gambling market witnessed a notable 16.8% growth during the first half of 2026 compared to the same period in 2025.
In an effort to enhance regulatory oversight, Lithuania is planning to implement mandatory “player cards” for gamblers starting from January 1, 2029. These cards will enable tracking of individuals' gambling activities across both online and physical venues, allowing for stricter controls on gambling behaviour and enabling authorities to monitor deposits and winnings across various operators.
