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Fortuna Gambling Revenues Rising

Thursday March 6 ,2014 :  FORTUNA DOES WELL ON INTERNET BETTING
 
Online activity boosts profits at Czech gambling group.
 
Fortuna Entertainment Group, a Czech-facing online and land betting company has posted results better than analyst expectations of Euro 14.3 million, with net profit up 26.4 percent over the year to Euro 15.6 million, boosted significantly by online gambling operations.
 
The Reuters news agency reports that total amounts staked were also better than expectations, rising 21.2 percent to Euros 567.2 million.
 
Online sports betting gross win in 2013 increased by 35.3 percent to Euro 51.1 million from stakes of Euro 551.2 million, 22.9 percent more than in 2012. This impressive performance was positively driven by online segment growth in all markets where Fortuna operates.
 
Online betting expansion was supported by the further development of “live betting” and live streaming, which are becoming increasingly popular channels amongst Fortuna clients.
 
Total gross win reached Euro 116.5 million, an increase of 5.1 percent compared with 2012. Gross win from retail betting in 2013 amounted to Euro 57.8 million, and gross win from lottery was Euro 7.6 million.
 
Total EBITDA grew by 20.8 percent to Euro 26.7 million
 
Fortuna chief executive Radim Haluza said in his report:
 
"I am very pleased with Fortuna´s sales performance driven by a strong growth in online sports betting in all markets.
 
"Fortuna delivered top line turnover of over Euro 567 million, which is 21.2 percent ahead of last year and EBITDA of Euro 26.7 million, 20.8 percent more than in 2012.
 
"Our key strategy to focus on internet and mobile betting and offer broad live content to our clients has paid off. We hope that we will be able to take advantage of this year´s major sporting events such as the Winter Olympics and World Cup in Brazil in order to retain a strong momentum.”
 
Haluza said that Fortuna´s online business continues to grow rapidly, hand in hand with the increase in broadband penetration affording access to the company´s website.
 
"Over the last two years, Fortuna has undergone a transformation from a retail betting operator to a multi-regional online business, Haluza said.  "During 2013, it has completed several investments and innovations of its trading platforms, mobile applications and CRM system.
 
"As a result of that, Fortuna managed to increase the number of registered players by 26 percent over the last year, while the number of clients betting live increased by 57 percent.
 
"The fastest growing channel in 2013 was mobile. Total number of customers preferring this channel has increased by more than 300 percent.
 
"On the product side Fortuna has expanded its live offer by signing a deal with Bwin.Party. Bwin Feed provides live sports betting data including odds, fixtures, results, scoreboards and events calendars in multiple languages to online and land-based B2B clients, enabling Fortuna to offer its customers an extensive sportsbook and supporting content."

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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