Fortuna sells off Czech instant lottery business
Operator also announces successful completion of €135m Hattrick acquisition
Fortuna has sold its 98.4% stake in its Czech-facing instant lottery business, Fortuna sázky a.s, for an undisclosed sum.
The firm announced Wednesday it had signed and completed the sale to Czech lottery operator Sazka, a.s, which also bought the remaining 1.6% of the business from E-invest.
Sazka CEO Robert Chvátal said the instant lottery and scratchcard business was growing at double-digit pace in the Czech Republic and around Europe, and represented an attractive growth opportunity.
Fortuna also announced Wednesday it had successfully closed the acquisition of 100% of the shares in Hattrick Sports Group, which was initially announced in February this year.
The acquisition was approved by regulatory authorities as well as by the shareholders of the company.
Hattrick is the owner of the Romania betting operator Casa Pariurilor, the Croatian operator PSK, and is a joint venture partner in Spanish firm Luckia.
The initial consideration to be paid by Fortuna is €85m, with potential earn outs up to €50m, and will be funded mainly via bank loans.
Fortuna CEO Per Widerström said the deal was a key milestone in Fortuna’s plan to become the biggest licensed multi-channel betting and gaming operator in Central and Eastern Europe.