SBC News Voice of the Sports Betting Industry
The governance of Eastern European gambling group Fortuna Entertainment NV has detailed that it is confident of hitting its full-year 2017 corporate guidance, following a strong end to 2017 trading.
Issuing a short market update, based on its preliminary unaudited 2017 results, Fortuna entertainment expects to generate total group corporate revenues of €1.9 billion.
Furthermore, the company has raised its full-year EBITDA growth range to +135-155%, from its original guidance of 80-95% on FY 2016 results.
The gambling operator, detailed a strong Q4 2017 closing period, in which its sports betting margin was bolstered by a series of favourable sporting results, recorded during the period.
Closing its statement, Fortuna governance detailed that it expects to deliver a 2017 group capital expenditure in the range of €11-14 million.
This January, Fortbet Holdings the largest shareholder in Fortuna Entertainment (80% equity), detailed that it had entered a binding agreement allowing the investment fund to acquire the gambling group outright.
Gaining approval, Fortbet seeks to turn Fortuna into a private enterprise delisting the firm’s placement on the Prague and Warsaw Stock Exchanges.
