Fortuna accepted bets of EUR 199.3 million up 20.2% in the first quarter of 2015
AMSTERDAM/Warsaw/Prague – Fortuna Entertainment Group, the leading Central European fixed-odds betting operator, has announced its unaudited consolidated results for the first quarter of 2015.
· Total Amounts Staked in Q1 2015 increased by 20.2% to EUR 199.3 million
· Total Gross Win in Q1 2015 up by 3.7% to EUR 35.4 million
· On-line Sports Betting Gross Win in Q1 2015 increased by 22.9% to EUR 19.9 million
“In the first quarter of 2015, the Company continued to deliver strong growth in Amounts Staked and we accepted EUR 199.3 million of bets, which is 20.2% more than last year. The Amounts Staked grew double digits in all our key markets, primarily driven by the on-line betting growth. In terms of Gross Win, we have, as expected, been negatively impacted by the abolishment of the online handling fee in Slovakia as well as by unfavourable sporting results, mainly in football, in March,” said Per Widerstrom, CEO of Fortuna Entertainment Group.
The Group’s Amounts Staked for the first quarter of 2015 was EUR 199.3 million, a solid 20.2% y-o-y increase. This growth was driven primarily by the double-digit growth in on-line betting in all the countries where Fortuna operates. The Amount Staked on sports betting reached EUR 194.6 million in the first quarter of 2015, a 20.1% improvement on the first quarter of 2014. The Amount Staked on lottery betting in the first quarter of 2015 totalled EUR 4.7 million, a 23.7% y-o-y increase.
In the first quarter of 2015,the total Gross Win reached EUR 35.4 million, an increase of 3.7% compared to the first quarter of 2014. The Gross Win in the first quarter 2015 was impacted by the abolishment of the handling fee on on-line betting in Slovakia, which apart from the absence of the fee led to an acceleration of online live betting growth and migration from Retail to Online which implies further Gross Win margin pressure. Also, the Company´s Gross Win in the first quarter was affected by unfavourable sporting results in March 2015.
The Gross Win from sports betting was EUR 33.3 million, a 3.0% increase y-o-y. Of this figure, the Gross Win from on-line betting in the first quarter of 2015 increased to EUR 19.9 million, a substantial increase of 22.9% over the same period of 2014. The Gross Win from retail betting in the first quarter of 2015 amounted to EUR 13.4 million. In the first quarter of 2015, the Gross Win from the lottery business was EUR 2.0 million, a 17.2% growth over the same period of last year.
In the first quarter of 2015, total EBITDA reached EUR 7.4 million, a 21.0% decrease over the same period of last year. The total is drawn from a 23.8% decline in sports betting to EUR 7.1 million and the lottery EBITDA of EUR 277 thousand, up 1,152% over the last year. Lower EBITDA is still in line with the full year guidance and was affected by unfavourable sporting results in March as well as the effects related to the abolishment of the online handling fee in Slovakia.
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