Fortuna Entertainment Group has closed its purchase of a 70% stake in TOPsport, the Lithuanian sports betting operator. The agreement was announced in March and the transaction has now formally completed. The Czech-headquartered group says the buy widens its presence across Central and Eastern Europe and counts as a step in scaling its Baltic business.
TOPsport was founded in 2002 and is headquartered in Kaunas. It holds more than 50% of Lithuania's online sports betting market, runs 54 offline outlets and employs more than 200 people. EBITDA for 2025 exceeded €65 million (US$75 million) at a margin above 50%, with average annual growth of around 30% since 2020. Aided brand awareness in Lithuania reaches 97%.
Context
Dieter John, chief executive of FEG, called the deal a 'decisive step' in March, framed by the group's long-term plans for markets with potential. TOPsport co-founder Gintaras Staniulis said the integration would give the operator global scale and access to technology, and pointed to stricter responsible gaming standards. FEG holds G4 certification. TOPsport is a prominent sponsor of Lithuanian sport, including the basketball club BC Žalgiris.
Lithuania's gaming revenue rose 16.8% year on year in the first half of 2026. The authorities have proposed mandatory 'player cards' from 1 January 2029, which would give the regulator data on activity across online and offline venues, including deposits and winnings held at different operators. For operators that means end-to-end oversight of the individual customer and extra reporting. The purchase hands FEG market share and places the asset in front of requirements that are still being drafted. Anyone running a book in the region should know how their own data handling would answer them.
