Fortuna Entertainment Completes Majority Acquisition of TOPsport
The Czech-headquartered gaming group enters the Lithuanian market through the purchase of a 70% stake in the country's leading operator.
Fortuna Entertainment Group (FEG) has completed its acquisition of a majority stake in Lithuanian sports betting operator TOPsport, formally expanding the group into the Baltic market.
The transaction was first announced in March, when the Czech-headquartered betting and gaming group agreed to acquire a 70% stake in TOPsport. With the deal now closed, FEG has added Lithuania to its existing Central and Eastern European operations as part of its longer-term expansion strategy.
Fortuna Targets Baltic Expansion
FEG has identified Lithuania as a market with significant growth potential and described the TOPsport acquisition as an important step in expanding its regional presence. When the agreement was initially announced, group CEO Dieter John called the transaction a “decisive step” in the company’s long-term growth plans.
Responsible gambling and regulatory compliance will also form part of the integration, with FEG holding global G4 certification. The group has said it intends to apply its existing responsible gaming standards as it develops the business in Lithuania.
TOPsport co-founder and strategic consultant Gintaras Staniulis previously highlighted FEG's international scale, technology and responsible gambling expertise among the benefits expected from the transaction. The existing TOPsport business provides Fortuna with an established position in Lithuania rather than requiring the group to build a presence from the ground up.
TOPsport Brings Established Lithuanian Presence
Founded in 2002 and headquartered in Kaunas, TOPsport holds more than 50% of Lithuania's online sports betting market and operates 54 retail locations across the country. The company employs more than 200 people and has developed significant domestic brand recognition during more than two decades of operation.
TOPsport recorded EBITDA of more than €65 million during 2025, with an EBITDA margin exceeding 50%. The business has also recorded a compound annual growth rate of approximately 30% since 2020, according to financial information disclosed by the companies.
Its profile in Lithuanian sport includes sponsorship agreements such as its main partnership with BC Žalgiris. FEG has also highlighted TOPsport's strong domestic awareness, citing assisted brand recognition of 97% among Lithuanian consumers.
Acquisition Comes As Lithuanian Gambling Market Grows
Fortuna's entry comes during a period of continued growth for Lithuania's regulated gambling sector. Market revenue increased by 16.8% year-on-year during the first half of 2026, with remote gambling accounting for an increasingly significant proportion of activity.
The market is also preparing for further regulatory changes. Lithuania has proposed introducing mandatory player cards from 1 January 2029, designed to strengthen oversight of gambling activity across both online and land-based venues.
The completed TOPsport transaction gives FEG an immediate position in that market through one of Lithuania's most established operators. It also represents a further expansion of the group's footprint across Central and Eastern Europe, with the acquisition combining TOPsport's domestic market position with Fortuna's wider technology, operational and responsible gambling capabilities.
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