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Fortuna Entertainment Group Posts Good Results

Thursday November 8,2012 : FEG TURNS IN GOOD 9M RESULTS
 
Driven by the successful expansion of online betting
 
Central European fixed-odds betting operator Fortuna Entertainment Group (FEG) delivered a respectable first nine months of 2012 report with a year-on-year increase of 8.7 percent in total revenues, despite a loss from its lottery segment due to start-up costs.
Key highlights over the period include:
 
-  Group’s Amounts Staked up 10.7 percent y-o-y to Euro 334.1 million
-  Group’s Gross Win up 10 percent to Euro 78 million
-  Gross win 23.4 percent up y-o-y amounted to Euro 25.8 million
-  Total Revenues up 8.3 percent y-o-y to Euro 67.6 million
-  EBITDA from Lottery segment a Euro 3.5 million loss – in line with budget
 
“The double digit growth in Amounts Staked on the Group level and the high single digit growth reported by the Sports Betting division were mainly driven by a successful expansion of on-line betting in all core markets, including our new regulated on-line business in Poland,” said Wilf Walsh, Chairman of the Management Board of Fortuna Entertainment Group.
 
“We are reporting growth rates which are in line with our long-term targets for sports betting. On top of that, we have completed a comprehensive review of our lottery business in order to minimize EBITDA impact and to reach break-even during the first half of next year.”
 
Sports Betting Segment:
 
-  Amounts Staked amounted to Euro 320.2 million, 7.7 percent up compared to the same period last year.
-  Gross Win grew 2.9 percent y-o-y amounting to Euro 71 million.
-  Gross Win from online sports betting in the first nine months of 2012 rose 23.4 percent y-o-y to Euro 25.8 million, primarily on the back of growth in the Polish and Czech markets.
-  Gross Win from retail sports betting in the first nine months of 2012 was Euro 45.2 million, down 6.0 percent y-o-y.
-  EBITDA from sports betting amounted to Euro 16.8 million in the first nine months of 2012, 8 percent less compared to the same period last year as a consequence of higher betting taxes in the Czech Republic.
 
Online Growth in FEG's online sportsbetting operations in Poland, Czech Republic and Slovakia:
 
-  Poland:  Gross Win from newly introduced on-line betting was Euro 2.2 million.
 
-  Czech Republic:   Gross Win climbed 24 percent y-o-y amounting to Euro 14.5 million.
 
-  Slovakia:   Gross Win from online betting was Euro 9.1 million, 0.4 percent less than in 2011. G
 
Sports Betting - FortunaWin (based in Malta)
 
-  Total Amounts Staked on FortunaWin reached Euro 3.3 million in the first nine months of 2012, up 15.6 percent.
-  Gross Win from betting was Euro 76 thousand in the first nine months of 2012, 44.9 percent less than in the same period last year.
 
Lottery Business in the Czech Republic for the first nine months of 2012:
 
-  Amounts Staked in Fortuna Lottery reached Euro 13.9 million, up 213.8 percent y-o-y.
-  Gross Win from the lottery amounted to Euro 7 million, 255.2 percent up on last year.
-  Revenues of Euro 7.1 million, up 254.4 percent on last year.
-  EBITDA - Euro 3.5 million due to start up costs which is in line with management expectations.



Gambling News :

Betradar Launches US Sports Betting Solutions - With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.

Abdelaouhab Zizi Wins MPNPT Morocco Main Event - Abdelaouhab Zizi has defeated fellow Casablanca resident Fadhil Farag heads up to win the 2018 MPN Poker Tour Morocco Main Event and MAD 375,000 (c. €33,220) after a two-way deal.

Final 12 For MPNPT Morocco - Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).

MPNPT Morocco Updates - Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.

MPN Poker Tour Morocco Day 1A - The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.

2018 MPN Poker Classic - The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.

PDC and Sportradar Renew Deal - Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data

Poker Yaar Joins MPN - Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.

New MPN Poker Rooms Tower Torneos - Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<

NY Rangers vs. Devils on 12/21 - When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.

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