Online gross win up 23% at Fortuna
Digital turnover shows double-digit growth in each of the Eastern European-focused operator's markets
Eastern Europe-facing operator Fortuna saw online gross win rise by almost a quarter in Q1 2015, as amounts stakes showed double-digit year-on-year growth in each of its core markets.
The 23% rise in online gross win to almost 20m was driven by its sportsbook business in Poland, Slovakia and the Czech Republic, where it is among the top two or three brands.
But the operator, which last month announced it was cutting its dividend to shareholders this year in favour of investing in online, posted an EBITDA decline of 21% to 7.4m for the quarter for the combined retail and land-based business.
It cited unfavourable sporting results in March and the abolishment of the online handling fee in Slovakia for the drop in profits.
The firm added that the change to Slovakia’s regulations had accelerated the growth of online live betting and the migration from retail to online, which led to further gross win margin pressure.
Fortuna posted a rise in online sportsbook revenues of 31% to 67m during 2014 and it has revealed plans to migrate to a new betting and gaming platform in the coming months.
CEO Per Widerstrom said the new platform would allow it to expand into new territories and provide an improved multi-channel product.