Fortuna Entertainment Group post net profit of € 7.9m

Sports Betting

Betting provider Fortuna Entertainment Group NV announced that the total amount of bets received by the end of September of this year was 1.3 billion euros. Their volume increased by 69.1 percent year-on-year. 

The strong increase in bets was mainly driven by online growth in all Fortuna countries, online casinos in the Czech Republic, and partly by the consolidation of Hattrick Sports Group and Fortuna Romania.

Total gross wins grew by 54.1 percent to 185.3 million euros in that period. EBITDA grew by 77.9 percent to 28.3 million euros. By contrast, net income fell by eighteen percent year-on-year to almost EUR 8 million, or EUR 7.9 million.

The published good business results for the first nine months of 2017 already reflect our growth strategy through investment in operational performance, new platforms and regional expansion. As a result, we have seen significant growth in all key performance parameters, said Fort Worthstroy CEO of Fortuna Entertainment Group.

The expected decline in gross margin margins included less favorable results in sports betting in the first nine months of this year, as well as faster rising betting and online gaming.

After counting the consolidation of Hattrick Sports Group and Fortuna Romania, the bets accepted for 2017 could reach € 1,900 million and the EBITDA could grow by eighty to 95 percent y / y.

Fortuna Entertainment Group is the largest operator of mutual wagering in Central Europe. The Company has been listed on the WSE since 2010.