The Fortuna Group, a prominent wagering and gaming enterprise in Central and Eastern Europe, experienced a substantial 69.1% upswing in betting volume throughout the initial three quarters of 2017. This notable expansion, attaining €1.3 billion by late September, was driven by robust results across their digital platforms. Specifically, their sports wagering products in nations like the Czech Republic, where they also manage online casinos, played a pivotal part. The successful incorporation of Hattrick Sports Group and Fortuna Romania also significantly contributed to their achievements.
Although their overall earnings before interest, taxes, depreciation, and amortization (EBITDA) climbed by a remarkable 77.9% to €28.3 million, their net income witnessed a minor decrease of 18%, reaching €7.9 million. This difference was linked to non-recurring expenses related to their recent acquisitions and integration endeavors.
Fortuna’s Chief Executive Officer, Per Widerström, conveyed contentment with their strategic allocations in operations, innovative platforms, and geographic expansion, all contributing to their remarkable growth across key performance metrics. He emphasized the company’s dedication to providing value to its investors and its aspiration to further strengthen its standing in the evolving European gaming sector.
We sought your perspective on the remaining 2017 market forecast, particularly how expansion estimates could shift considering the merger.
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