Fortuna records strong 2018 opening as new CIS assets deliver for enlarged enterprise

Publishing its Q1 2018 trading update (period ending 31 March), CIS betting group Fortuna Entertainment has reported significant progress on its commercial agenda following a strong opening to its 2018 performance.

Updating the market, an enlarged Fortuna reports growth across its core metrics and corporate KPIs as the operator records a 163% increase in group revenues to €797 million.

In its Q1 update, Fortuna governance details strong revenue contributions for its acquired assets of Hattrick Sports (€217 million) and Fortbert Romania (€101 million).

Focusing its operations within the markets of Poland, the Czech Republic, Slovakia, Romania and Croatia, Fortuna governance reports a period EBITDA increase of 665% to €22.7 million.

Closing its Q1 2018 trading period, Fortuna governance declares a corporate net profit of  €14 million.

Updating investors Per Widerström, CEO and Chairman Fortuna Entertainment Group commented on Q12018 trading:

“The strong reported financial results for the first quarter of 2018 reflect our growth strategy with investments into operational excellence, new platforms and regional expansion. Thanks to that, we recorded a substantial growth in all reported key indicators, this driven both by strong organic growth as well as M&A. Our Amounts Staked increased by 163.7% yoy to EUR 797.0 million, Gross Win amounted to EUR 110.0 million and EBITDA reached EUR 22.7 million a yoy increase of 157.6% and 665.5% respectively. If we adjust for one-off costs related to Integration, the EBITDA increased 723.9% yoy. We also would like to confirm our guidance for the rest of 2018.”

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