Fortuna Entertainment completes acquisition of TOPsport

Fortuna Entertainment Group (FEG), the Czech-headquartered sports‑betting and gaming conglomerate, has finalised its acquisition of a majority stake in Lithuania’s leading sports operator TOPsport. 

The transaction, initially announced in March as a 70% purchase agreement, has moved to formal closing, expanding FEG’s footprint across Central and Eastern Europe.

The company has positioned the acquisition as a critical step towards scaling its operations in the Baltic region. 

In a statement in March, group CEO Dieter John described the purchase as “a decisive step” aligned with the group’s ambitious long-term growth ambitions in markets with substantial potential.

The transaction also emphasised adherence to responsible gaming and regulatory standards. FEG, holding a global G4 certification, affirmed its commitment to safe and sustainable gaming practices. 

TOPsport’s standings

TOPsport’s co-founder and strategic consultant, Gintaras Staniulis, noted the benefits of integrating with FEG, citing global scale, technological innovation and enhanced responsible gaming standards as key advantages for customers and stakeholders.

Founded in 2002 and based in Kaunas, TOPsport is the dominant player in Lithuania’s sports betting sector, controlling over 50% of the online market share. The company operates 54 retail outlets nationwide and employs more than 200 staff. 

Financial data made available by the companies indicated that TOPsport reported EBITDA exceeding €65 million in 2025, backed by an EBITDA margin above 50% and a compound annual growth rate of approximately 30% since 2020. 

TOPsport holds brand visibility through sponsorship deals, notably its main partnership with BC Žalgiris and Lithuania’s Euroleague basketball team.

FEG highlighted a 97% assisted brand recognition rate for TOPsport within Lithuania.

Blossoming Lithuanian market and regulation

For Lithuania, the transaction stands out as a significant foreign investment in recent years within the heavily regulated gaming sector. 

The country’s gambling sector experienced robust growth in the first half of 2026, expanding by 16.8% compared to the same period in 2025. 

The country proposed the introduction of mandatory “player cards” to monitor individuals’ gambling activities across both online and physical venues.  

This initiative, set to come into force on 1 January 2029, would require every gambler to hold a physical card that will facilitate tighter controls over gambling behaviour and enable government authorities to monitor deposits and winnings across different operators.