Fortuna Entertainment Group (FEG), the Prague-headquartered multichannel betting leader, has officially agreed to acquire a 70% stake in the prominent Lithuanian operator TOPsport.
While the specific financial terms and purchase price have remained undisclosed, the move is being hailed as a “slam dunk” for FEG’s expansion strategy, marking its first-ever entry into the Baltic region.
TOPsport is the undisputed leader of the Lithuanian market, commanding an estimated 50% market share. The company, founded in 2002, boasts a massive digital presence as well as a physical retail network of 54 locations across 26 cities.
For the fiscal year of 2025, TOPsport reported a robust EBITDA of €65 million, reflecting a compound annual growth rate of roughly 30% over the last five years. With EBITDA margins consistently exceeding 50%, the acquisition represents a high-value asset for FEG as it seeks to consolidate its position across regulated European markets.
A Strategic Leap into the Baltics
Lithuania represents FEG’s seventh active market, joining its existing operations in the Czech Republic, Romania, Slovakia, Poland, Croatia, and Montenegro.
Dieter John, Group CEO of FEG, commented on the acquisition’s long-term significance:
“The Baltics represent a region with high growth potential for FEG, and entering Lithuania by acquiring the market leader is a decisive step in our ambitious long‑term growth strategy. This is a smart and forward‑looking investment, and we expect it to create substantial value for our business in the years ahead. TOPsport’s strong digital footprint, long-standing market leadership and deep local expertise make it a perfect match for our ambitions.”
Gintaras Staniulis, TOPsport co-founder and strategic consultant, also praised the deal:
“After more than two decades, TOPsport has become an inseparable part of Lithuania’s sports and entertainment landscape. FEG brings global scale, technological strength, and responsible gaming standards that will elevate the business to new heights.”
The acquisition is still subject to regulatory approval in Lithuania but is expected to close within the current calendar year, significantly boosting FEG’s footprint in the Central and Eastern European (CEE) region.
