Fortuna Entertainment Group (FEG), which is based in the Czech Republic, has successfully completed the acquisition of a majority stake in TOPsport, a leading sports betting operator in Lithuania.
Initially announced in March as a deal to purchase 70% of the company, this transaction is now officially closed, allowing FEG to enhance its presence in Central and Eastern Europe.
Group CEO Dieter John previously referred to the acquisition as "a decisive step" towards achieving the company’s strategic growth objectives in markets ripe with potential.
The deal underscores FEG’s commitment to responsible gaming and regulatory compliance. With a global G4 certification, the company has reiterated its dedication to maintaining safe and sustainable gaming practices.
Gintaras Staniulis, co-founder and strategic consultant for TOPsport, expressed optimism about the integration with FEG, highlighting benefits such as global scale, technological advancements, and improved responsible gaming standards for both customers and stakeholders.
Founded in 2002 and headquartered in Kaunas, TOPsport dominates Lithuania's sports betting market, holding over 50% of the online market share. The company operates 54 retail locations across the country and employs more than 200 individuals.
Financial figures released from the companies suggest TOPsport achieved an EBITDA exceeding €65 million in 2025, with an EBITDA margin surpassing 50% and a compound annual growth rate of about 30% since 2020.
TOPsport maintains high brand visibility through various sponsorship agreements, including a prominent partnership with BC Žalgiris and Lithuania’s Euroleague basketball team. FEG reported that TOPsport enjoys a remarkable 97% assisted brand recognition rate in Lithuania.
This acquisition is notable for Lithuania as it represents one of the most significant foreign investments in the strictly regulated gaming sector in recent years. The country’s gambling market saw substantial growth in the first half of 2026, increasing by 16.8% compared to the same period in 2025.
As part of ongoing regulatory developments, Lithuania has proposed introducing mandatory “player cards” aimed at monitoring gambling activities across both online platforms and physical venues. This initiative, scheduled to be implemented on January 1, 2029, will require gamblers to possess a physical card for tighter control over their gambling habits and to facilitate governmental oversight of deposits and winnings across different operators.
