Tag Archives: Czech Republic

GVC exits ‘unworkable’ Czech Republic market

FTSE-listed online gambling group GVC Holdings will not pursue operator licensing for the regulated Czech Republic online gambling market. Sending a communication to Czech affiliates and media partners, the operator has stated that following a review of market conditions it has concluded that current gaming laws are ‘incompatible with the principles of the European Union’. The operator had previously withdrawn …

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Unfavourable sports results and group development costs impact Fortuna Q1 2017 profits

Unfavourable sporting results combined with higher operational costs have impacted Eastern European gambling operator Fortuna Entertainment Group Q1 2017 performance. Updating investors Fortuna governance would detail ‘robust’ set of metrics during the period as the company recorded a total group wagering of €302 million up 20% on corresponding 2016 performance. Closing the period, Fortuna would further report a Gross Win …

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Czech taxes & unfavourable sporting results impact Fortuna 2016 profits

Eastern European gambling operator Fortuna Entertainment is looking forward to a new business year, having closed a challenging 2016 for its operations. Releasing its ‘unaudited’ full-year 2016 financial results, Fortuna detailed that group wagering had reached €1 billion mark (FY 2015: €850 million), driven by higher sports betting player activity in all its key markets. The operator that services the …

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Playtech first to enter Czech online casino market with Fortuna Entertainment

FTSE-listed Playtech Plc has confirmed that it will be the first industry platform provider to launch a licensed online casino property for the Czech Republic in partnership with Eastern European operator Fortuna Entertainment. Updating investors, Playtech governance revealed that on 24 February the Czech Republic Ministry of Finance granted Fortuna the country’s first ever licence to operate ‘online technical games’. …

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EnergyCasino player redeems reward points for Maltese holiday

A loyal player based in the Czech Republic enjoyed one of the best winning streaks ever seen on EnergyCasino, and became the first player to redeem EnergyPoints on a Maltese holiday. After collecting €45,884 on slot game ‘Roaring Forties’ at the start of July and end of August, Jaroslav landed an impressive €22,974 on ‘Stunning Hot and Elements: The Awakening’. …

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Fortuna Entertainment lands major ‘all levels’ sponsorship with Czech Football

Eastern European gambling group Fortuna Entertainment (Fortuna) has confirmed that it has secured a major sponsorship with deal with the Czech Football Association (Fotbalová asociace České republiky; FAČR) becoming  the official sponsor of the Czech Liga. Agreeing a six-year deal with the FACR, Fortuna gains the title sponsorship of the Czech Liga which will be rebranded to the ‘Fortuna Liga’ …

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Fortuna Entertainment reverses 2015 declines posting strong H1 2016

Updating the market on its H1 2016 interim results (unaudited period ending 30 June), Eastern European gambling operator Fortuna Entertainment Group (Fortuna) has revealed improved corporate results throughout its core metrics. Following a tough FY 2015, in which Fortuna financial performance was impacted by increased tax charges in its markets of Poland, the Czech Republic and Slovakia, the company was …

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SBTech celebrating ‘very strong and successful year’ at Super Show

Sportsbetting supplier SBTech is to showcase its cutting-edge product portfolio at the iGaming Super Show in Amsterdam June 7th – 10th at stand B60. SBTech believes combination of localised offerings, expert legal oversight, versatile tools and expert industry knowledge has positioned it as a ‘world-leading sportsbetting provider’. This is shown be the wide geographical spread of its operating partners, who are based in the …

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BetConstruct furthers Eastern European services with LVbet partnership

Betting platform provider BetConstruct has confirmed that it has secured a sports betting software provisions partnership with Malta-licensed Eastern European focused operator LVBet (LVbet.com) The New European bookmaker will integrate BetConstruct’s ‘Odds Feed Service’ which will supply its operations with access to over 50 betting markets. The partnership is announced as LVbet management looks to extend the operator’s current customer …

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37% Q1 earnings decline sees Fortuna revise 2016 corporate guidance

A tough opening to its 2016 corporate performance, has seen Eastern European gambling operator Fortuna Entertainment revise its year guidance detailing an EBITDA drop ranging between 10-15%. Updating the market on its Q1 2016 (period ending 31 March), Fortuna reported a group wagering increase to €251 million (up 26% on corresponding Q1 2015) combined with Gross Win revenues of €38 …

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