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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.”
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