European betting and gaming operator Fortuna Entertainment Group (FEG) has agreed to acquire a majority 70 per cent stake in TOPsport, the leading online sports betting and gaming operator in Lithuania.
The move supports FEG’s growth strategy and marks an important milestone in strengthening the company’s position in the Baltic region.
Founded in 2002 and headquartered in Kaunas, TOPsport has an estimated 50 per cent share of Lithuania’s online betting and gaming market, complemented by a strong retail network with 54 locations nationwide.
In 2025, the company reported EBITDA of €65 million, with a margin above 50 per cent and a compound annual growth rate (CAGR) of around 30 per cent since 2020.
“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,” said Fortuna Entertainment CEO Dieter John. “This is a smart and forward‑looking investment, and we expect it to create substantial value for our business in the years ahead.”
TOPsport has over 200 employees and key sponsorships with Euroleague team BC Žalgiris, title sponsorship of TOPLYGA, the nation’s top football division, and the Lithuanian Football Federation.
“After more than two decades, TOPsport has become an inseparable part of Lithuania’s sports and entertainment landscape, built from the ground up into the country’s leading omnichannel operator,” said TOPsport co-founder and strategic consultant Gintaras Staniulis. “Today, we open a new chapter by joining Fortuna Entertainment Group.
“FEG brings global scale, technological strength, and responsible gaming standards that will elevate the business to new heights, while our customers benefit from the widest entertainment offering and the highest level of platform security. We remain true to our roots, but from here, with the strength of a leading European group behind us.”
Last October, FEG entered the Montenegrin market after acquiring a majority 51 per cent stake in Lob, the second largest operator in the country.
The TOPsport transaction marks a record investment for FEG’s parent company, Penta.