Fortuna Entertainment Group (FEG) has acquired a 70% stake in Lithuania-licensed online and offline operator TOPsport.
The acquisition will see Prague-headquartered FEG expand into the Baltics for the first time.
TOPsport reported EBITDA of more than €65m in 2025 and is considered the market leader in Lithuania.
While the transaction value was undisclosed, FEG said it was a record investment from its owner, Penta Investments.
Lithuania will mark FEG’s seventh market, with the business already live in Czechia, Romania, Slovakia, Poland, Croatia and Montenegro.
The operator moved into Montenegro last year after acquiring a 51% majority stake in the country’s second largest operator, Lob.
FEG CEO Dieter John told EGR earlier this year that M&A was the company’s “preferred approach” to expansion into new markets.
The CEO also said FEG wanted to be a “proactive driver of consolidation” across the European igaming industry.
Prior to acquiring Lob, FEG’s most recent M&A activity was the purchase of PSK in Croatia, with the deal struck in 2017.
In addition to PSK and Lob, FEG operates the Fortuna brand and the Romania-facing Casa Pariurilor.
As per EGM data, TOPsport accounted for 15% of all online gambling traffic in Lithuania in February.
Founded in 2002, the bookmaker boasts retail outlets across 26 cities in the country and an online sportsbook and casino.
The brand sponsors the Lithuanian national football team, as well as a host of local sports leagues and Olympic athletes.
TOPsport was established by Gintaras Staniulis, who serves as the business’ CEO.
Speaking about the acquisition, FEG’s John said: “TOPsport’s strong digital footprint, long-standing market leadership and deep local expertise make it a perfect match for our ambitions.
“Their 24-year history and highly online-driven model give us a powerful platform to accelerate our growth, enhance our product offering and bring even more value to our customers and partners.
“This step also reinforces our commitment to responsible gaming and regulatory excellence. Together, we will continue to uphold the highest standards and build on the principles that define how we operate as a group.”
FEG was placed 18th in the latest edition of the EGR Power 50, published in November 2025.
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Czechia-based multichannel operator takes majority position in Lithuania’s market leader for an undisclosed sum
The post Fortuna Entertainment Group snaps up 70% stake in TOPsport first appeared on EGR Intel.