Fortuna helped by online growth
Fortuna is a fixed-odds betting operator with outlets across Central and Eastern Europe and revealed that its first-quarter earnings before interest, tax, depreciation and amortisation fell 0.3 percent year-on-year to us$ 13.4 million although its total gross win increased 15.9 percent when compared to the same period in 2011 to us$ 49.3 million.
Amounts staked for the three-month period dropped by 0.3 percent year-on-year to us$ 182.8 million while the figure from its sportsbetting operations decreased 4.9 percent when compared with the initial quarter of 2011 to us$ 174.4 million.
“The double-digit growth in gross win and other key figures reported by our sportbetting division has been mainly driven by a successful expansion of online betting in all core markets including our new regulated business in Poland,” said Wilf Walsh, Vice-Chairman and Interim CEO for Fortuna. “This, together with the stabilisation of the retail business, enables Fortuna to report solid results while continuing with the development of our new lottery business in the Czech Republic at the same time.”
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