Fortuna Entertainment Group (FEG) has finalised the acquisition of a majority stake in Lithuanian sports betting operator TOPsport, expanding its presence across Central and Eastern Europe.
The Czech-headquartered sports betting and gaming group initially announced the agreement in March, with plans to acquire a 70% stake in TOPsport. The transaction has now formally closed.
FEG said the acquisition is a major milestone in scaling its operations in the Baltic region. In March, FEG Group CEO Dieter John described the transaction as “a decisive step” aligned with the group’s long-term growth ambitions in markets with significant potential.
The deal also includes a focus on responsible gaming and regulatory compliance. FEG, which holds global G4 certification, said it remains committed to safe and sustainable gaming practices.
TOPsport co-founder and strategic consultant Gintaras Staniulis said integration with FEG would provide benefits, including greater global scale, technological innovation, and enhanced responsible gaming standards for customers and stakeholders.
Founded in 2002 and headquartered in Kaunas, TOPsport holds more than 50% of Lithuania’s online sports betting market. It also operates 54 retail outlets across the country and employs more than 200 people.
TOPsport reported EBITDA of more than €65 million (US$75 million) in 2025, with an EBITDA margin above 50%. The company has recorded compound annual growth of approximately 30% since 2020, according to financial data provided by the companies.
The operator also has a strong presence in Lithuanian sports through sponsorship agreements, including its main partnership with BC Žalgiris and Lithuania’s EuroLeague basketball team.
FEG said TOPsport has a 97% assisted brand recognition rate in Lithuania.
The acquisition comes as Lithuania’s gambling market continues to grow. Gambling revenue increased 16.8% year-on-year in the first half of 2026.
Lithuania has also proposed mandatory “player cards” from 1 January 2029. The cards would allow authorities to monitor gambling activity across online and land-based venues, including deposits and winnings across operators.
Original article: https://www.yogonet.com/international/news/2026/08/18/125922-fortuna-entertainment-group-completes-topsport-majority-stake-purchase
