Fortuna acquires 70% of TOPsport and enters the Lithuanian market
Czech group Fortuna Entertainment Group has agreed to acquire a 70% stake in Lithuanian operator TOPsport, securing an entry point into the Lithuanian market. SiGMA previously covered how Austria’s Greentube launched an affiliate programme with TOPsport.
Fortuna is not buying a small local brand, but rather is acquiring an asset deeply embedded in the Lithuanian market and consistently positioned as a leader in the online segment. Here is what is known about the deal and the wider market backdrop.
What is known about the deal
On one side is Fortuna Entertainment Group, a major betting and online gaming group active in the Czech Republic, Slovakia, Poland and Romania. On the other side is TOPsport, a Kaunas-based operator founded in 2002, with both online and land-based operations.
In Lithuania’s register of remote gaming, TOPsport is listed as an operator authorised to operate 44 remote platforms, a figure that underlines the maturity of its digital infrastructure. In other words, Fortuna is not entering Lithuania via a start-up or a niche brand, but through a long-licensed asset with an established operating base. The purchase price has not been disclosed. However, Fortuna CEO Dieter John described it as a record investment for the group’s parent company, Penta Investments.
In communications around the deal, TOPsport is described as the country’s number one operator, with more than 50% online market share, a 24-year track record, and EBITDA of more than €65 million in 2025. John also said the transaction reflects Fortuna’s commitment to responsible gambling and high regulatory standards.
Why TOPsport
According to Blask analytics as of 23 March 2026, the Lithuanian market included 74 brands, with TOPsport ranked first by BAP (brand attention share) at 41.51%. Its nearest competitors were materially behind: the next closest brand, Betsafe, had a BAP score over two times lower. Over the period from 1 February 2025 to 1 February 2026, TOPsport also increased its Blask Index (overall market interest) by 14.97%. The signal is clear: Fortuna is acquiring the asset with the greatest share of digital attention in the market.
Lithuania’s market growth adds to the rationale. Over the past 15 years, Lithuania’s GGR (gross gambling revenue) has increased more than fivefold, from €12.9 million in 2010 to €241.9 million in 2024. Fortuna is effectively betting on continued growth.
Fortuna’s regional profile
Blask data also shows Fortuna’s positioning across neighbouring markets. As of 23 March 2026, the brand is present in the Czech Republic, Slovakia, Romania and Poland.
Fortuna’s strongest position is in Slovakia, where it ranks second by BAP. In the Czech Republic and Romania, the brand was ranked fourth, and in Poland it was ranked fifth. In the Czech Republic, Fortuna nearly doubled its Blask Index over the year. This backdrop matters: Fortuna is not a new entrant, but a group with a visible presence across several nearby markets. The TOPsport stake therefore looks less like a one-off deal and more like an expansion of Fortuna’s regional portfolio through a dominant local asset.
Lithuania’s market and regulatory environment
According to Lithuania’s Gambling Supervisory Authority (LPT) under the Ministry of Finance, the market’s gross revenue reached €274.1 million in 2025, up 13% year on year. The main driver was the remote segment. The regulator reported online revenue up 19% to €202.4 million, while the land-based segment remained almost unchanged at €71.7 million. For Fortuna, this is an entry into a market where growth is being led primarily by online activity.
Lithuania’s regulatory environment remains strict. In 2025 alone, LPT issued 47 warnings to foreign entities for illegal remote activity, conducted 37 investigations, and added 208 domains to the list of illegal operators.
Advertising and sponsorship rules have also been tightened. In autumn 2025, the regulator concluded a review involving TOPsport’s use of a betting brand in Lithuania’s football championship. No fine was issued, as the issue was corrected during the review, but the case illustrated how closely the regulator monitors even the form of brand presence in the sports environment.
What this deal means
The significance of the deal is not only that Fortuna adds another country to its footprint. The group is entering Lithuania via a dominant local asset with a long-standing licence, a large digital base, and a leading position in market attention. Since the price was not disclosed, the clearest signal is the size and market position of the asset Fortuna chose to acquire. That is why the “record investment” phrasing reads less like boilerplate and more like a marker of how seriously the group rates Lithuania and TOPsport’s position within it.
This article was originally published in Russian on 23 March 2026.
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