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Fortuna Entertainment targets Baltic growth with TOPsport acquisition

Entertainment

Entertainment

Details on the purchase price and specific transaction terms have not been disclosed. 

Prague-based Fortuna Entertainment Group (FEG) has agreed to acquire a 70% stake in Lithuanian-based betting operator TOPsport.

The acquisition marks FEG’s entry into Lithuania, the Baltic’s largest region by population, and reflects the group’s broader ambitions to consolidate its position in regulated European markets.

TOPsport, Lithuania’s largest online sports betting and gaming operator, commands an estimated 50% share of the country’s betting market. It maintains a significant physical presence with a nationwide retail network comprising 54 locations.

The company, founded in 2002, reported an EBITDA of €65 million in 2025, reflecting a strong compound annual growth rate of approximately 30% since 2020 and sustained EBITDA margins above 50%. It employs over 200 staff in total.

““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.” Dieter John, group CEO of FEG, said.

A slam dunk partnership

TOPsport’s substantial market presence is supported by key sponsorship deals including its deal with BC Žalgiris, Lithuania’s only EuroLeague basketball team. Additionally, it includes title sponsorship of the top-tier domestic football league (TOPLYGA), and collaborations with the Lithuanian Football Federation.

Gintaras Staniulis, TOPsport co-founder and strategic consultant said of 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.”

Continued growth in gambling revenue highlights Lithuania’s resilience within CEE. The transaction has yet to undergo regulatory approval in Lithuania.

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Kathryn Evans

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