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

Per Widerstrom – Fortuna Entertainment

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 verticals.

Fortuna stated that it would invest 2015 capital on improving its IT-infrastructure, expanding its multi-channel capabilities, optimising its digital operations and expanding its digital presence in established regions.

Fortuna released the following statement regarding its dividends decision

“These investments will strengthen the Company’s current position as the leading Central European licensed sports betting operator. It will also support Fortuna in its ambition to become the undisputable leader in the regulated Central & Eastern European sports betting & gaming sector with the most trusted and exciting multi-channel betting & gaming brand, scalable platform and outstanding customer experience.”

The operators focus on digital verticals, has been outlined by new CEO Per Widerstrom who joined Fortuna in September 2014 from Gala Interactive. Fortuna governance stated that it would support Widerstrom’s digital focused strategy as the operator looks to increase its presence in Central and Eastern European markets.

Check Also

UK ‘Top 5’ pledge voluntary 1% commitment to tackling problem gambling

The governances of bet365, William Hill Plc, Flutter Entertainment, Sky Bet and GVC Holdings have pledged …

Tom Watson – ‘Cultural change’ is key to gaining a purposeful gambling industry

Labour Party Deputy Leader Tom Watson has published the full transcript of his speech on …

William Hill appoints ‘risk expert’ Jane Hanson as corporate advisor

FTSE bookmaker William Hill Plc has moved to strengthen its governance and corporate advisory confirming the …