Fortuna Entertainment Earnings Report

FORTUNA SPORTSBETTING DELIVERS IN 9M RESULTS

But impacted by Czech taxes and growth investment.

Central European fixed-odds betting operator Fortuna Entertainment Group (FEG) has reported a 22.9 percent increase in total stakes to Euro 756 million during the first nine-months of its fiscal year.

Total gross win reached Euro 120.2, a 14.4 percent increase during the same period while online sports betting gross win grew 25 percent to Euro 75 million.

A company statement said amounts stakes during the 9M period grew in the double digits across all the company’s key markets, driven primarily by growth in online betting, and in particular by mobile sports betting.

FEG’s robust results were, however, negatively impacted by an increase in Czech betting taxes and a rise in operating costs to support future growth which impacted total EBITDA of Euro 15.9 million, down 9.9 percent y-o-y.