The Prague-based Fortuna Entertainment Group has reached an agreement to acquire 70% of the shares of Lithuanian gambling operator TOPsport. This acquisition marks Fortuna's entry into Lithuania, the most populous market in the Baltic region, and reflects its broader ambition to consolidate its position in the regulated European market. In plain terms, it aims to incorporate the strongest gambling company in the Baltic region into its fold and solidify its territory.
Market leader in Lithuania: 50% share, annual EBITDA of 65 million euros
TOPsport is Lithuania's largest online sports betting and gambling operator, holding about 50% of the national gambling market share, with a nationwide retail network of 54 stores. Founded in 2002, the company's EBITDA reached 65 million euros in 2025, with a compound annual growth rate of about 30% since 2020, consistently maintaining an EBITDA profit margin of over 50%, and employing more than 200 people. The CEO of Fortuna Group stated that the Baltic region has tremendous growth potential, and acquiring the market leader to enter Lithuania is a key step in their long-term growth strategy.
Sports sponsorship resources enhancement: Deeply tied with top basketball and football events
TOPsport's market position is supported by several important sponsorships, including cooperation with Lithuania's only European league basketball team BC Žalgiris, naming sponsorship of the top domestic football league (TOPLYGA), and collaboration with the Lithuanian Football Association. A co-founder of TOPsport stated that after more than two decades of development, the company has become an inseparable part of Lithuania's sports and entertainment landscape. FEG's global scale, technological strength, and responsible gambling standards will help elevate the business to new heights. The transaction is still pending regulatory approval in Lithuania. Interested in the latest developments in European gambling acquisitions? PASA's official website continues to track.
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