Fortuna reveals 25% rise in H1 gross win
Operator reports strong online growth but acquisition of Hattrick Sports Group hits profits
Fortuna Entertainment Group (FEG) has announced a 24.5% year-on-year increase in gross win for H1 to £92.2m, driven by strong online growth.
The European operator attributed the rise to the expansion of the firm’s online business, which included the introduction of online gaming in the Czech Republic.
However EBITDA was down 22% to £6.9m for H1 due to the acquisition of Hattrick Sports Group, which the firm completed in February.
Growth in Fortuna’s online business also led to a 40.9% increase in total amounts staked to £663.2m but total net profit for H1 was £2.3m – 53% lower than in H1.
Fortuna CEO and chairman Per Widerström said: “This strong growth was the result of solid performances in all traditional markets where Fortuna operates.
“Our operating profitability, as measured by EBITDA, was mainly influenced by the one-off costs associated with our expansion across the CEE region, coupled with integration into the Group of recently acquired business operations.”