Fortuna posts 31% rise in online sports betting
Net profits rise 2.3% compared to 2013 as operator sees registered customers also rise by 30%
Online sports betting growth was a highlight of a solid set of full-year results posted by Fortuna Entertainment this week, as the operator cements is position as a leading brand in Central and Eastern Europe.
The firm, whose retail and online presence gives it a market leading position in Poland and number two positions in the Czech Republic and Slovakia, saw online sportsbook revenues increase by 31% to 67m in the 12 months to 31 December 2014.
Online sports betting, which it said was boosted by in-play growth and live streaming supported by a Bwin feed, now accounts for more than 50% of Fortuna’s total gross win from the vertical.
Its total number of registered customers across the group rose by some 31%.
Total EBITDA across the group increased to 28.4m – a 6.4% rise over the previous year, leading to net profits of 15.9m, up 2.3% from 2013.
“The achieved results in 2014, particularly the growth of on-line business and robust profitability confirm that Fortuna is well positioned to become the undisputable leader in the regulated Central European sports betting and gaming sector with the most trusted and exciting multi-channel betting and gaming brand,” Per Widerstrom, CEO and chairman of Fortuna Entertainment Group, said.
Widerstrom left his role as Gala Interactive managing director late last year after almost three years in the role and replaced the outgoing Radim Haluza at Fortuna.
In November Fortuna upgraded its 2014 outlook after group EBITDA for the first nine months of the year grew 21% to 22m following rapid growth in its online sportsbook.