Fortuna Entertainment completes acquisition of TOPsport in Lithuania

Fortuna Entertainment Group (FEG) has closed its acquisition of a majority stake in TOPsport, giving the Czech-headquartered sportsbook and gaming group a direct entry into Lithuania’s gambling market. For PSPs and acquirers, the deal matters because it ties a major regional operator to a market that grew 16.8% year-on-year in the first half of 2026 and is moving toward tighter player-level controls.

1. The transaction was first announced in March as a 70% purchase agreement and has now formally closed. FEG said the deal expands its footprint across Central and Eastern Europe and is a key step toward scaling in the Baltic region.
2. FEG group CEO Dieter John called the purchase “a decisive step” in line with the group’s long-term growth ambitions in markets with substantial potential. The company also framed the acquisition around responsible gaming and regulatory standards, noting that FEG holds a global G4 certification.
3. TOPsport is Lithuania’s leading sports betting operator. Founded in 2002 and based in Kaunas, it controls over 50% of the online market share, operates 54 retail outlets nationwide, and employs more than 200 staff.
4. The companies said TOPsport reported EBITDA exceeding €65 million in 2025, with an EBITDA margin above 50% and a compound annual growth rate of approximately 30% since 2020. FEG also said TOPsport has a 97% assisted brand recognition rate within Lithuania.
5. TOPsport’s co-founder and strategic consultant, Gintaras Staniulis, pointed to global scale, technological innovation and enhanced responsible gaming standards as the main benefits of the integration. The operator’s brand visibility is reinforced by sponsorships, including its main partnership with BC Žalgiris and Lithuania’s Euroleague basketball team.

Lithuania itself is becoming a more interesting regulated market for high-risk payment flows. The country’s gambling sector grew by 16.8% in the first half of 2026, and authorities have proposed mandatory “player cards” to track gambling activity across online and physical venues, with the measure set to come into force on 1 January 2029.