TEGOS advised the current shareholders on reaching an agreement to sell a controlling 70% stake in Lithuania’s largest online sports betting and gaming operator, Top Sport, to Fortuna Entertainment Group (FEG), a leading betting and gaming operator across Central and Eastern Europe, backed by Penta Investments.
With this acquisition, FEG enters the largest market in the Baltic region, marking a record investment for its parent company, Penta Investments.
According to Dieter John, CEO of the FEG Group, Top Sport’s strong digital footprint, long-standing market leadership, and deep local expertise align well with FEG’s strategic ambitions:
“Top Sport’s strong digital footprint, long-term market leadership, and deep local knowledge fit perfectly with our ambitions. Its 24-year history and highly digital operating model provide us with a powerful platform to accelerate growth, enhance our product offering, and create even greater value for 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 the principles that define how we operate as a group.”
Fortuna Entertainment Group has been owned by Penta Investments since 2005. Penta Investments is a Czech and Slovak private equity group founded in 1994.
TEGOS acted as legal advisor to Top Sport and its shareholders on the deal, which was led by Marius Matonis, Paulius Dabulskis, Evelina Tumakova-Kuzmič, Meda Stankutė, and Ramilė Bartušytė.
