Tag Archives: Fortuna Entertainment

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 re-hires Michal Hanák as Chief of Sports Betting

Eastern European sports betting and gambling operator Fortuna Entertainment has announced that it has re-hired Michal Hanák as its Chief Sports Betting Officer, as the operator looks to strengthen its presence and services within core markets. Hanák re-joins Fortuna Entertainment having served as Head of Trading and as a member of the operator’s board from 2005-2012. From 2012-2015 Hanák would …

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Fortuna Entertainment appoints Darren Lovern as CMO

Fortuna Entertainment Group, continues to focus on international expansion by announcing the appointment of Darren Lovern as its new Chief Marketing Officer (CMO). Lovern joins the Eastern European bookmaker from Paddy Power where he was Head of Online Sports Betting (2009 – 2015). The hire of Lovern as CMO continues new CEO Per Widerstrom corporate re-structure as Fortuna Entertainment looks …

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Fortuna Entertainment holds back dividend pay-out ahead of digital push

The governance of Eastern European focused sports betting operator Fortuna Entertainment Group has announced that its will not pay any investor dividend in 2015. The news follows a Fortuna governance meeting held on 2 April which reviewed dividend policy and planed investments. Fortuna governance announced that its retained dividend earnings would be used to invest in the company’s growing digital …

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Fortuna Entertainment records retail & digital growth in 2014

Eastern European gambling operator Fortuna Entertainment reported year-on-year growth as the operator reached €674 million in wagering revenues up 18.5% on 2013 figures (€567 million). Fortuna Entertainment reported growth on all top line metrics, as the operator recorded EBITDA revenues of €28.4 million up 6.4% on FY 2013 €26.7 million. The operator sustained a 2014 net profit of €15.9 million …

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Czech Finance Minister looks to double taxes by 2016

Czech Republic Finance Minister Andrej Babis wants to double taxes on betting operators from 2016. At present operators Czech licensed betting operators pay 20% taxes on their gross win earnings from gambling, plus a 19% corporate tax rate. Babis will look to increase taxes to 30-40% from 2016, as the Czech government looks to overhaul its gambling sector. The finance …

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