Fortuna strengthens Eastern Europe presence with €135m acquisition
Deal for Hattrick Sports Group expands presence in Romania, Croatia and Spain
Fortuna has announced a deal to acquire 100% of Hattrick Sports Group for a maximum consideration of €135m.
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.
“The acquisition of Hattrick Sports Group is a key milestone in Fortuna Entertainment Group’s plans of becoming ‘The No.1 licensed multichannel betting and gaming operator in Central and Eastern Europe’ as well as a testament for our value creation strategy,” said Fortuna CEO Per Widerström.
“Our intention is to retain the Fortuna and Casa Pariurilor brands in Romania as well as PSK and Hattrick in Croatia.
“On a regional level, we will combine the best of both companies with the aim to create more exciting offers for our customers, better opportunities for our employees and business partners, thus increasing value for our shareholders.”
Fortuna also recently announced it had become the first company to be granted an online casino license by the Czech Republic Ministry of Finance.
The operator is currently live in in the Czech Republic, Poland, Slovakia and Romania.