Tag Archives: Per Widerstrom

Polish tax charges see Fortuna Entertainment post flat 2015

Publishing its unaudited full-year results for 2015 (period ending 31 December), Eastern European gambling operator Fortuna Entertainment (Fortuna) has reported that Polish VAT charges have impacted company performance as Fortuna posted a flat adjusted EBITDA of €27 million (2014: €27.2 million). Despite recording no EBITDA growth, Fortuna governance detailed positives as the company saw top-line revenue and gross win growth …

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Fortuna Group expands brand in Romania with Penta Group operators

Eastern European focused gambling and sports betting operator Fortuna Entertainment Group has announced that it has signed an agreement to license its brand to Romanian betting operators Bet Active Concept and Bet Zone. The Romanian licensed operators who are owned by investment firm Penta Group, will be allowed to use the Fortuna brand and its trademark to promote gambling and …

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Fortuna Entertainment sees 47% profit fall in H1 2015

Eastern European gambling operator Fortuna Entertainment has recorded a 47% decline in net profits to €4.8 million (H1 2014 – €8.9 million). The operator had been negatively impacted by a steep decline in its group operating margins to 10.4% (H1-2014 18.5%) due to being hit by a set of unfavourable sports results in March. A tough opening six months of …

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Fortuna Entertainment re-hires Michal Hanák as Chief of Sports Betting

Eastern European sports betting and gambling operator Fortuna Entertainment has announced that it has re-hired Michal Hanák as its Chief Sports Betting Officer, as the operator looks to strengthen its presence and services within core markets. Hanák re-joins Fortuna Entertainment having served as Head of Trading and as a member of the operator’s board from 2005-2012. From 2012-2015 Hanák would …

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Fortuna Entertainment appoints Darren Lovern as CMO

Fortuna Entertainment Group, continues to focus on international expansion by announcing the appointment of Darren Lovern as its new Chief Marketing Officer (CMO). Lovern joins the Eastern European bookmaker from Paddy Power where he was Head of Online Sports Betting (2009 – 2015). The hire of Lovern as CMO continues new CEO Per Widerstrom corporate re-structure as Fortuna Entertainment looks …

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Fortuna Entertainment holds back dividend pay-out ahead of digital push

The governance of Eastern European focused sports betting operator Fortuna Entertainment Group has announced that its will not pay any investor dividend in 2015. The news follows a Fortuna governance meeting held on 2 April which reviewed dividend policy and planed investments. Fortuna governance announced that its retained dividend earnings would be used to invest in the company’s growing digital …

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Fortuna Entertainment records retail & digital growth in 2014

Eastern European gambling operator Fortuna Entertainment reported year-on-year growth as the operator reached €674 million in wagering revenues up 18.5% on 2013 figures (€567 million). Fortuna Entertainment reported growth on all top line metrics, as the operator recorded EBITDA revenues of €28.4 million up 6.4% on FY 2013 €26.7 million. The operator sustained a 2014 net profit of €15.9 million …

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Gala Coral merges digital gaming divisions

Gala Coral has restructured its Gibraltar digital gaming divisions, merging the management teams of Gala and Coral Interactive. Gala Coral Chief Operating Officer Andy Hornby is set to take charge of both merged divisions, replacing Coral Interactive Managing Director John O’Reilly. Gala Coral announced that Hornby would additionally continue to oversee Coral retail betting division. The decision to restructure its …

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Fortuna Entertainment profits up for 2014

Czech betting and gambling operator Fortuna Entertainment Group posted a 21% increase in corporate profits for its first nine months of 2014. The operator recorded EBITDA profits of €22 million (£17.3 million) for the period, outlining that growth had been driven by higher customer activity and improved performance of its online gambling verticals. Fortuna Entertainment senior management stated that the …

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Fortuna Entertainment appoints Widerstrom as CEO

Czech gambling and sports betting operator Fortuna Entertainment Group, have appointed Per Widerstrom, ex Managing Director of Gibraltar based Gala Interactive, as new Chief Executive Officer. Widerstrom replaces Radim Haluza, who will stay with the operator in an advisory role in order to ensure a smooth corporate transition for Fortuna and its management. Fortuna Entertainment announced that it had hired …

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