Operator Talk: Fortuna targets Central European supremacy

Operator Talk: Fortuna targets Central European supremacy

Thursday, March 5, 2015 Totally Gaming

Fortuna Entertainment is on course to become the leading online betting operator in Central Europe following year-on-year growth in several key metrics in 2014, according to recently-installed CEO and chairman Per Widerstrom.

Sports betting and online betting were key drivers behind the preliminary and unaudited financial results for 2014, with Fortuna posting total gross win of €132.6m ($147m), a 13.9-per-cent increase on 2013.

Sports betting operations generated a gross win of €125.1m, marking a 14.9-per-cent rise, while online betting rocketed by 31.2 per cent to €67m. Gross win from retail betting also edged up to €58m, while the total amount staked by punters leapt by 18.5 per cent to €672.4m.

Total EBITDA adjusted by one-off gains increased by 13.6 per cent to €27.8m.

Fortuna Entertainment's share price had increased by 5.35 per cent to €4.7 by 3pm Central European Time on the Berlin Stock Exchange today (Thursday).

“I am delighted to have got the opportunity to join Fortuna and to lead the Fortuna organisation in these exciting times,” said Widerstrom, who replaced Radim Haluza at the helm late last year.

“The achieved results in 2014, particularly the growth of online business and robust profitability confirm that Fortuna is well positioned to become the undisputable leader in the regulated Central European sports betting and gaming sector with the most trusted and exciting multi-channel betting and gaming brand.”

As reported previously by TotallyGaming.com, Widerstrom, the former managing director of Gala Interactive at Gala Coral, highlighted the importance of Fortuna’s multi-channel strategy when he joined the company.

Fortuna, which operates extensively in online betting, strengthened its lottery interests last year by acquiring the Intralot Czech subsidiary of gaming and lottery operator Intralot. Fortuna struck the deal through its subsidiary Fortuna Game, a provider of fixed-odds betting in the Czech Republic.

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