Fortuna Entertainment Group (FEG), a sports-betting and gaming company based in the Czech Republic, has successfully completed its acquisition of a majority interest in TOPsport, the leading sports operator in Lithuania.
This acquisition, which was first announced in March with a purchase agreement for 70% of TOPsport, has now reached formal closure, allowing FEG to enhance its presence across Central and Eastern Europe.
The company views this acquisition as a pivotal move to expand its operations in the Baltic region. CEO Dieter John characterized the deal as "a decisive step" towards fulfilling the group's ambitious growth strategy in markets ripe for development.
The acquisition also underscores FEG's commitment to maintaining responsible gaming practices and adhering to rigorous regulatory standards. With a global G4 certification, FEG is dedicated to ensuring safe and sustainable gaming experiences.
Gintaras Staniulis, co-founder and strategic consultant for TOPsport, praised the merger, highlighting the advantages that come with FEG's global reach, technological prowess, and improved responsible gaming initiatives, all beneficial for customers and stakeholders alike.
Founded in 2002 and headquartered in Kaunas, TOPsport is a prominent force in Lithuania’s sports betting market, possessing more than 50% of online market share. The company operates 54 retail outlets and employs over 200 individuals.
Recent financial data shared by both companies shows that TOPsport projected an EBITDA of over €65 million for 2025, with an EBITDA margin exceeding 50% and an impressive compound annual growth rate of roughly 30% since 2020.
Sponsorship deals have bolstered TOPsport's brand presence, including a significant partnership with BC Žalgiris, a key team in Lithuania’s Euroleague basketball league. FEG reported an impressive 97% brand recognition rate for TOPsport among Lithuanian consumers.
The acquisition is notably significant in the context of Lithuania’s heavily regulated gaming sector, marking a substantial foreign investment in recent years. Lithuania's gambling industry demonstrated considerable growth in the first half of 2026, with an increase of 16.8% compared to the previous year.
To further enhance oversight in the gambling sector, Lithuania has proposed mandatory "player cards" to track individuals’ gambling activities across online and physical platforms. This regulation, expected to be implemented on January 1, 2029, will require all gamblers to possess a physical card, allowing for stricter monitoring of gambling behaviors and enhancing the ability of government authorities to oversee deposits and winnings across various operators.
