Tag Archives: Fortuna Entertainment

Penta moves to buy Fortuna Entertainment outright

Eastern European investment group Penta Group Investments (Penta) has announced that it will move to buy outright the remaining shareholding of Czech-listed gambling operator Fortuna Entertainment (Fortuna). At present, Penta holds 68.25% of the corporate equity in Fortuna through gambling investment subsidiary Fortbet. Penta management will aim to turn Fortuna into a wholly-owned private company, removing the firm from its listings …

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Penta Investments leads Betting on Football panel on investment opportunities within the betting industry

Penta Investments

Following a year of mass industry consolidation, high-level panelists at Betting on Football 2017 will be discussing whether sports betting is still an attractive proposition for investors. The ‘Managing Risk’ panel at Stamford Bridge on 3 May will feature Valhalla Investments Chairman Mark Blandford, GVC Holdings COO Shay Segev and Dreamworx Online Founder & Investor Christian Edler, alongside Marek Šmrha, …

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Fortuna continues Romanian expansion with €47 million deal for Fortbet assets

Fortuna Entertainment continues its M&A expansion within the licensed Romanian gambling market. The Eastern European bookmaker confirmed this week that it was closing in on the acquisition of Fortbet Holdings gambling assets. Updating the market, Fortuna detailed that it was in the final stages of negotiations for the Fortbet properties of Bet Active Concept SRL, Bet Zone SRL, Public Slots SRL and Slot Arena SR. …

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Czech taxes & unfavourable sporting results impact Fortuna 2016 profits

Eastern European gambling operator Fortuna Entertainment is looking forward to a new business year, having closed a challenging 2016 for its operations. Releasing its ‘unaudited’ full-year 2016 financial results, Fortuna detailed that group wagering had reached €1 billion mark (FY 2015: €850 million), driven by higher sports betting player activity in all its key markets. The operator that services the …

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Fortuna extends shirt sponsorship with Legia Warsaw

Eastern European gambling operator Fortuna Entertainment continues to boost its coverage within football by confirming that it has extended its shirt sponsorship of Polish Ekstraklasa football club Legia Warsaw. Updating the market, Fortuna marketing revealed that following a review of its partnership and brand coverage with Legia, the operator will now extend its official shirt sponsorship for a further three …

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Fortuna Entertainment lands major ‘all levels’ sponsorship with Czech Football

Eastern European gambling group Fortuna Entertainment (Fortuna) has confirmed that it has secured a major sponsorship with deal with the Czech Football Association (Fotbalová asociace České republiky; FAČR) becoming  the official sponsor of the Czech Liga. Agreeing a six-year deal with the FACR, Fortuna gains the title sponsorship of the Czech Liga which will be rebranded to the ‘Fortuna Liga’ …

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Fortuna Entertainment reverses 2015 declines posting strong H1 2016

Updating the market on its H1 2016 interim results (unaudited period ending 30 June), Eastern European gambling operator Fortuna Entertainment Group (Fortuna) has revealed improved corporate results throughout its core metrics. Following a tough FY 2015, in which Fortuna financial performance was impacted by increased tax charges in its markets of Poland, the Czech Republic and Slovakia, the company was …

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37% Q1 earnings decline sees Fortuna revise 2016 corporate guidance

A tough opening to its 2016 corporate performance, has seen Eastern European gambling operator Fortuna Entertainment revise its year guidance detailing an EBITDA drop ranging between 10-15%. Updating the market on its Q1 2016 (period ending 31 March), Fortuna reported a group wagering increase to €251 million (up 26% on corresponding Q1 2015) combined with Gross Win revenues of €38 …

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Polish tax charges see Fortuna Entertainment post flat 2015

Publishing its unaudited full-year results for 2015 (period ending 31 December), Eastern European gambling operator Fortuna Entertainment (Fortuna) has reported that Polish VAT charges have impacted company performance as Fortuna posted a flat adjusted EBITDA of €27 million (2014: €27.2 million). Despite recording no EBITDA growth, Fortuna governance detailed positives as the company saw top-line revenue and gross win growth …

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Fortuna Entertainment sees 47% profit fall in H1 2015

Eastern European gambling operator Fortuna Entertainment has recorded a 47% decline in net profits to €4.8 million (H1 2014 – €8.9 million). The operator had been negatively impacted by a steep decline in its group operating margins to 10.4% (H1-2014 18.5%) due to being hit by a set of unfavourable sports results in March. A tough opening six months of …

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