Fortuna Entertainment Group to buy 70% stake in TOPsport
FEG highlighted the Baltics’ growth potential as it signs a deal to buy a majority stake in Lithuania’s biggest gambling operator.
Lithuania.- Prague-based Fortuna Entertainment Group (FEG) has reached an agreement to purchase a 70 per cent stake in the Lithuanian betting operator TOPsport. It’s the group’s first move into Lithuania and underscores its aim to strengthen its footprint across regulated European markets.
The move is FEG’s latest expansion after it acquired a majority stake in Lob in Montenegro. Headquartered in Prague, it already has a presence in Croatia, Slovakia, Poland and Romania, as well as its native Czech Republic.
Lithuania is the most populous Baltic nation, and TOPsport is its leading online sports betting and gaming operator. Founded in 2002, it now holds roughly half of the market. Alongside digital operations, it has a retail network of 54 outlets and employs more than 200 staff.
Its presence is seen in major sponsorship deals, including with the EuroLeague basketball team BC Žalgiris and Lithuania’s premier football league, TOPLYGA. It also collaborates with the Lithuanian Football Federation.
In 2025, the company reported EBITDA of €65m, reflecting a compound annual growth rate of about 30 per cent since 2020 while consistently maintaining margins above 50 per cent.
FEG CEO Dieter John said: “The Baltics represent a region with high growth potential for FEG. 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 co-founder and strategic consultant Gintaras Staniulis commented: “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 take the business to new heights.”
The TOPsport transaction remains subject to regulatory approval.
