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Fortuna Group announced its first quarter 2012 results
Good online performance growth boosts retail results
Central-European fixed-odds betting operator Fortuna Entertainment Group (FEG) announced its first quarter 2012 results delivering double-digit growth in its Gross Win figures and strong performance from its online business.
Key performance indicators for the period ended March 31, 2012 include:
- Total Gross Win of Euro 30.7 million, up 15.9 percent over the same period last year.
- Total amounts staked amounted to Euro 113.8 million, overall a stable year-on-year performance showing a modest decline of 0.3 percent over Q1/2011.
- EBITDA remained stable at Euro 8.4 million, composed of the 13.8 % growth in sports betting to Euro 9.6 million and negative lottery EBITDA of Euro 1.2 million.
- Total amounts staked amounted to Euro 108.6 million, down 4.9 percent following a decline in bet volume.
- Gross Win grew 6.1 percent year on year, totaling Euro 28.1 million.
- Online sportsbetting showed a particularly strong performance on the back of Polish and Czech market growth with a Gross Win of Euro 10.2 million, up 24.2 percent.
- Poland Online: gross win from the newly introduced online betting offering was Euro 619 000.
- Fortuna reports 9 000 registered online customers in its newly launched Polish online venture and 20 000 pre-registered customers.
- Czech Republic Online: Gross Win from the online segment climbed by 32.3 percent year on year amounting to Euro 5.8 million. (Interestingly, in contrast, Gross Win from retail sports betting declined 8.0 percent Year on year).
- Slovakia Online: Gross Win from online betting was Euro 3.7 million, 1.7 percent less than in 2011.
“The double-digit growth in Gross Win and other key figures reported by Sport Betting division has been mainly driven by a successful expansion of on-line betting in all core markets, including our new regulated business in Poland,” said Wilf Walsh, vice chairman and interim chief executive officer of Fortuna Entertainment Group. “This, together with the stabilization of the retail business, enables Fortuna to report solid results while continuing with the development of our new Lottery business in the Czech Republic at the same time.”
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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