Tag Archives: Fortuna Entertainment

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

Czech betting and gambling operator Fortuna Entertainment Group posted a 21% increase in corporate profits for its first nine months of 2014. The operator recorded EBITDA profits of €22 million (£17.3 million) for the period, outlining that growth had been driven by higher customer activity and improved performance of its online gambling verticals. Fortuna Entertainment senior management stated that the …

Czech gambling and sports betting operator Fortuna Entertainment Group, have appointed Per Widerstrom, ex Managing Director of Gibraltar based Gala Interactive, as new Chief Executive Officer. Widerstrom replaces Radim Haluza, who will stay with the operator in an advisory role in order to ensure a smooth corporate transition for Fortuna and its management. Fortuna Entertainment announced that it had hired …