Enlarged Fortuna Entertainment sees significant earnings growth for 2017

Per Widerström

Eastern European gambling group Fortuna Entertainment NV has published its unaudited consolidated results for full-year 2017 trading (period ending 31 December), detailing significant growth across its core metrics.

Presenting FY2017 results, Fortuna details a year of transformative growth driven by solid investments in its platforms and operations, combined with effective expansion within its core CIS markets.

Group wagering increased by 93%, with Fortuna’s consolidated revenues hitting the €2 billion mark.

Fortuna governance details strong growth across its digital platforms, supported by the successful integration of its newly acquired assets of Hattrick Sports Group and Fortbet Romania entities.

Fortuna’s enlarged enterprise records an 87% uplift to €305 million in group gross win for its 2017 trading.

Closing full-year 2017 accounts Fortuna governance declares a group EBITDA of €55 million, combined with corporate net-profits of €15.4 million

Updating investors, Per Widerström, CEO and Chairman of Fortuna Entertainment Group, commented on 2017 performance:

“The strong preliminary financial results for 2017 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.

Our Amounts Staked increased by 93.1% yoy to EUR 2 billion, Gross Win amounted to EUR 305.4 million and EBITDA reached EUR 55.0 million a yoy increase of 87.4% and 148.1% respectively. If we adjust for one-off costs related to M&A and Integration, the EBITDA increased 169.0% yoy,”

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