Fortuna Entertainment Group expands in the Baltics through acquisition of TOPsport
(AsiaGameHub) - Fortuna Entertainment Group (FEG), headquartered in Prague, has reached an agreement to purchase a 70% share in TOPsport, a Lithuanian betting operator. This acquisition signifies FEG’s debut in Lithuania—the most populous Baltic region—and aligns with the group’s wider goals of strengthening its standing in regulated European markets. As Lithuania’s leading online sports betting and gaming company, TOPsport holds roughly 50% of the country’s betting market share. It also maintains a strong physical footprint via a national retail network of 54 locations. Established in 2002, the company recorded an EBITDA of €65 million in 2025, reflecting a robust compound annual growth rate (CAGR) of around 30% since 2020 and consistent EBITDA margins exceeding 50%. It employs a total of over 200 staff. “The Baltics are a region with significant growth potential for FEG, and entering Lithuania by acquiring the market leader is a key step in our ambitious long-term growth strategy. This is a wise, forward-thinking investment, and we anticipate it will generate considerable value for our business in the years ahead,” stated Dieter John, group CEO of FEG. A slam dunk partnership TOPsport’s strong market position is bolstered by major sponsorship agreements, including its partnership with BC Žalgiris—Lithuania’s only EuroLeague basketball team—as well as its title sponsorship of the top-tier domestic football league (TOPLYGA) and collaborations with the Lithuanian Football Federation. Gintaras Staniulis, co-founder and strategic consultant of TOPsport, commented on the deal: “After more than two decades, TOPsport has become an integral part of Lithuania’s sports and entertainment landscape. FEG brings global scale, technological expertise, and responsible gaming standards that will elevate the business to new heights.” Sustained growth in gambling revenue underscores Lithuania’s resilience within the Central and Eastern European (CEE) region. The transaction has not yet undergone regulatory approval in Lithuania. This article is provided by a third-party. AsiaGameHub (https://asiagamehub.com/) makes no warranties regarding its content. AsiaGameHub delivers targeted distribution for iGaming, Casino, and eSports, connecting 3,000+ premium Asian media outlets and 80,000+ specialized influencers across ASEAN.
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