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Fortuna turnover +15%, earnings -15%, iGamingBusiness

Fortuna turnover +15%, earnings -15%, iGamingBusiness | Poker & eGaming News |

Central and Eastern European online and retail sportsbook operator Fortuna Entertainment Group NV has released its financial results for the first six months of 2012 showing that it experienced a 14.7 percent year-on-year rise in total revenues to €48.04 million.


Earnings before interest, tax, depreciation and amortisation for the six months to the end of June hit €10.13 million, which was a decline of 14.7 percent year-on-year, with Fortuna declaring that this area had been impacted by a 212 percent drop in earnings from its lottery business when compared with the same period in 2011 to post a deficit of €3 million although sportsbetting experienced a 2.3 percent improvement to €13.14 million.

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Fortuna’s online growth offsets continuing retail decline, Gaming Intelligence

Central European retail and online gaming operator Fortuna Entertainment Group has reported a 16 per cent increase in total gross winnings to €30.7m following strong growth in the company’s online sports betting offering.Total amounts staked fell a marginal 0.3 per cent to €113.8m following a 5 per cent drop in amounts staked from sports betting to €108.6m during the quarter.


Q1 Sports Betting Revenues

Euros (€) Q1 2012 Up/(Down)
- Amounts Staked 14.9m 9.9%
- Gross Win 6.1m 14.7%
Czech Republic
- Amounts Staked 58.1m (4.6%)
- Gross Win 12.6m 7.0%
- Amounts Staked 34.6m (11.6%)
- Gross Win 9.3m (0.1%)

Total Amounts Staked 108.6m (4.9%)
Total Gross Win 30.7m 15.9m
- Online Gross Win 10.2m 24.2%
- Retail Gross Win 18.0m (1.9%)


Q1 Results

Euros (€) Q1 2011 Q1 2012
Amounts Staked 114.2m 113.8m
- Sports Betting 114.2m 108.6m
- Lottery -- 5.2m
Gross Win 26.5m 30.7m
- Sports Betting 26.5m 28.1m
- Lottery -- 2.6m
Revenue 23.2m 27.3m
EBITDA 8.4m 8.4m
- Sports Betting 8.4m 9.6m
- Lottery -- (1.2m)

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