Fortuna Entertainment has posted its H1-2011 results

Friday August 26,2011 :  ONLINE OPERATIONS BOOST CZECH OPERATOR'S FIRST HALF
 
Fortuna posts a 19 percent improvement in H1-2011
 
The Czech online and land gambling group Fortuna Entertainment has posted its H1-2011 results, reporting that online operations have driven higher turnover.
 
The company posted a 19 percent rise in first-half net profit thanks to the higher bets and lower costs, ikt revealed Thursday.
 
Net profit reached Euro 8.6 million euros ($12 million) from a total amount of bets up 9 percent from a year ago to Euro 209 million, roughly in line with expectations.
 
Management said that online betting was a major factor behind growth for the group, which is active in the Czech Republic, Slovakia, Hungary and Poland.
 
Gross win in the period was a touch below estimates at Euro 47.9 million euros, up 5.5 percent from the previous year.
 
Fortuna revealed that it is in talks with Czech rival Tipsport about taking over its Polish subsidiary, which it said would boost market share by a third. The planned acquisition could be finished in the fourth quarter if given regulatory approval.