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 …
Read More »Tag Archives: slovakia
Olympic Entertainment Group merges Eastern European gambling assets
Issuing a market update, Tallinn (Estonia) listed gambling operator Olympic Entertainment Group (OEG) has confirmed that it will merge Eastern European assets following the publication of its end of year results. Undertaking a corporate review of operational assets in its eight active markets (Estonia, Slovakia, Poland, Belarus, Latvia, Lithuania, Italy and Malta) OEG governance announced that it would merge business …
Read More »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 …
Read More »20% dip in EBITDA for Fortuna despite revenue growth
European bookmaker Fortuna Entertainment Group has reported a 25% increase in turnover so far in 2015, but this hasn’t prevented the firm from posting a near 20% decline in EBITDA over the same period. In the first nine months of the year, total EBITDA amounted to 17.7m euro million, a 19.6% decline over the same period of last year, with …
Read More »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 …
Read More »NIKÉ Slovakia extends Virtual provisions with Inspired Gaming
Gambling technology firm Inspired Gaming (Inspired), has announced the extension of its Virtuals partnership with Niké, the leading licensed gaming operator in Slovakia. Niké launched Inspired’s Virtuals in 2012 online and across 200 retail outlets. It currently offers a number of Inspired’s Virtual Sports inventory, including: Rush Football, Rush Cycling, Rush Tennis, Rush Motor Racing, Rush Horses and Rush Greyhounds. Niké has also launched Inspired’s …
Read More »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 …
Read More »Slovak Football Rocked By Match Fixing Allegations
Slovak football has been rocked this weekend by allegations concerning four active and three former Slovakian professional football players regarding football match fixing and having ties with Asian-based match fixing groups. This past weekend saw the arrest of 16 people with ties in Slovak football in a Slovak and Czech police joint task-force to stop corruption in regional sports. Slovak …
Read More »