Tag Archives: Fortuna Entertainment

Catena restructures board as Optimizer Invest decreases shareholding

The governance of Stockholm-listed industry affiliate marketing network Catena Media has confirmed that it will put forward the appointments of Göran Blomberg and Per Widerström as new members of the board, to be voted on at the firm’s upcoming AGM scheduled for 2 May 2019. Issuing a corporate filing, Catena governance discloses that Optimizer Invest senior partners Henrik Persson Ekdahl …

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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 …

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Assessing the prospect of regulatory backlash at Betting on Football

This year’s Betting on Football (20-23 March) will assess the prospect of a regulatory backlash as established betting jurisdictions start to push back on the industry. ‘Is there a backlash coming?’ will be held as part of the Leadership track, which takes place on the second full day at Stamford Bridge (Thursday 22 March). Speakers include Kindred Group CPO Britt …

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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 …

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Fortuna Entertainment receives Fortbet takeover offer

Fortuna Entertainment Group has announced that it has reached an agreement with Fortbet Holdings Limited, its majority shareholder, in relation to a takeover bid for the company. Fortbet, a subsidiary of the Central European investment group Penta Investments, currently owns a little under 80% of the firm, but is now bidding for full control after raising its stake from 68% …

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Fortuna boosts cross-channel payment capabilities with EML ‘reloadable cards’ partnership

Eastern European betting group Fortuna Entertainment has expanded its player payment provisions by integrating EML Payments Europe (EML Group) ‘branded reloadable cards’ for its multi-channel operations. Fortuna the largest betting operator within Eastern Europe’s regulated markets, will initially roll-out EML cards access across its Czech Republic operations, with the potential to expand to other core markets in which the group …

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Fortuna Entertainment records H1 2017 revenue & KPI growth despite enlargement costs

Presenting its H1 2017 interim results (period ending 30 June), Eastern European gambling operator Fortuna Entertainment Group has detailed a strong revenue performance combined with KPI gains driven by the growth of sports betting and gaming divisions. Updating the market, Fortuna would record a 40% group revenue increase to €720 million (H1 2016: €511 million), of which €650 million would …

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Done Deal…Fortuna closes Hattrick acquisition

Following a period of high M&A activity and corporate restructuring, Eastern European gambling group Fortuna Entertainment has confirmed that it has finalised its acquisition of Hattrick Sports Group (deal first announced February 2017). Fortuna governance has announced that its acquisition has passed all regulatory requirements, as the group expands its European market portfolio adding Hattrick assets Casa Pariurilor (Romania) and …

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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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Penta moves to buy Fortuna Entertainment outright

Eastern European investment group Penta Group Investments (Penta) has announced that it will move to buy outright the remaining shareholding of Czech-listed gambling operator Fortuna Entertainment (Fortuna). At present, Penta holds 68.25% of the corporate equity in Fortuna through gambling investment subsidiary Fortbet. Penta management will aim to turn Fortuna into a wholly-owned private company, removing the firm from its listings …

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