SBC News Fortuna Entertainment confident of hitting 2017 targets

Fortuna Entertainment confident of hitting 2017 targets

The governance of Eastern European gambling group Fortuna Entertainment NV has detailed that it is confident of hitting its full-year 2017 corporate guidance, following a strong end to 2017 trading.

Issuing a short market update, based on its preliminary unaudited 2017 results, Fortuna entertainment expects to generate total group corporate revenues of €1.9 billion.

Furthermore, the company has raised its full-year EBITDA growth range to +135-155%, from its original guidance of 80-95% on FY 2016 results.

The gambling operator, detailed a strong Q4 2017 closing period, in which its sports betting margin was bolstered by a series of favourable sporting results, recorded during the period.

Closing its statement, Fortuna governance detailed that it expects to deliver a 2017 group capital expenditure in the range of €11-14 million.

This January, Fortbet Holdings the largest shareholder in Fortuna Entertainment (80% equity), detailed that it had entered a binding agreement allowing the investment fund to acquire the gambling group outright.

Gaining approval, Fortbet seeks to turn Fortuna into a private enterprise delisting the firm’s placement on the Prague and Warsaw Stock Exchanges.

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