Fortuna accepted bets of EUR 165.9 million up 17.5% in the first quarter of 2014
Fortuna Entertainment Group, the leading Central European fixed-odds betting operator, has announced its unaudited consolidated results for the first quarter of 2014.
· Total Amounts Staked in Q1 2014 increased by 17.5% to EUR 165.9 million
· Total Gross Win in Q1 2014 up by 1.8% to EUR 34.1 million
· On-line Sports Betting Gross Win in Q1 2014 increased by 19.2% to EUR 16.2 million
“In the first quarter of 2014, the Company continued in a strong growth of Amounts Staked and we accepted EUR 165.9 million of bets, which is 17.5% more than last year. The Amounts Staked grew double digits in all our key markets, primarily driven by on-line betting expansion. The number of registered users exceed a half million in the first quarter of this year which is 40% more than a year ago,” said Radim Haluza, CEO of Fortuna Entertainment Group.
The Group’s Amounts Staked for the first quarter of 2014 was EUR 165.9 million, a strong 17.5% yoy increase. The Amount Staked on sports betting reached EUR 162.0 million in the first quarter of 2014, an 18.2% improvement on the first quarter of 2013. The Amount Staked on lottery betting in the first quarter of 2014 totalled EUR 3.8 million.
In the first quarter of 2014,the total Gross Win reached EUR 34.1 million, an increase of 1.8% compared to the first quarter of 2013. The Gross Win from sports betting was EUR 32.4 million, a 3.0% increase yoy. Of this figure, the Gross Win from on-line betting in the first quarter of 2014 increased to EUR 16.2 million, a substantial gain of 19.2 % over the same period of 2013. The Gross Win from retail betting in the first quarter of 2014 amounted to EUR 16.2 million. In the first quarter of 2014, the Gross Win from the lottery business was EUR 1.7 million.
In the first quarter of 2014, total EBITDA reached EUR 9.4 million, a 17.0% decrease over the same period of last year. The total is drawn from a 16.9% decline in sports betting to EUR 9.4 million and a positive lottery EBITDA of EUR 22 thousand.
“Lower EBITDA and slower Gross Win growth compared to the first quarter of the last year resulted from unfavourable sporting results in January, primarily football results in the first two January weeks. We believe that our full year guidance will be met,” said Radim Haluza.
Selected financial indicators – FEG total
|(EUR million)||Q1 2014||% yoy|
Dividend Payment and Corporate Affairs
The long-term dividend policy of the Company for the dividend payout ratio of 70-100% of the consolidated net profit remains unchanged.
The Management Board of Fortuna Entertainment Group N.V. decided at its meeting to propose a gross dividend of EUR 0.22 per share of EUR at the upcoming Annual General Meeting of Shareholders (“AGM”). The Management Board of the Company will propose to the AGM a date of record on 19 June 2014 and the dividend payment 26 June 2014.
The AGM of Fortuna Entertainment Group N.V. will be held on 6 June 2014 in Amsterdam. The total sum allocated for the dividend amounts to EUR 11.44 million, which, based on the total number of shares of 52,000,000 equals EUR 0.22 per share.
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