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Fortuna Entertainment Group (FEG) has entered the Baltic region by acquiring a 70% stake in Lithuania’s leading operator, TOPsport.
The deal, supported by parent company Penta Investments, is being described as one of the largest foreign investments in Lithuania in recent years and also marks a record outlay for Penta.
TOPsport was founded in 2002 and is based in Kaunas. The operator dominates Lithuania’s betting and gaming sector with more than half of the market share. Its reach extends across both digital and retail, with a strong online platform supported by 54 physical outlets nationwide.
With EBITDA surpassing €65 million in 2025 and consistent double‑digit growth since 2020, TOPsport brings scale and stability to FEG’s portfolio. “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 Gintaras Staniulis, TOPsport Co-Founder and Strategic Consultant.
“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.”
The acquisition also adds more than 200 employees to the group, further embedding Fortuna into the Baltic market.
Another major move for FEG
FEG has called its purchase of TOPsport a “major step” in its long‑term strategy, describing the deal as a way to anchor itself in the Baltics while building on local expertise.
By taking control of Lithuania’s market leader, FEG says it can accelerate growth, broaden its product range, and strengthen its digital offering.
Chief Executive Officer Dieter John explained: “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. I am proud of the work our teams have done to make this possible and excited for what we will achieve together with our new colleagues in Lithuania.”
The timing of the deal is also notable, as Lithuania is in the middle of reshaping its gambling laws. Parliament has already raised the legal age for betting from 18 to 21, increased tax rates to 22%, and is preparing stricter advertising rules by 2028.
Source: SBC News
