Fortuna Entertainment Group accepted bets of EUR 1.3 billion up 69.1% in the first nine months of 2017
AMSTERDAM/Warsaw/Prague – Fortuna Entertainment Group, the leading Central European betting and gaming operator, has announced its unaudited consolidated results for the first nine months of 2017.
· Total Amounts Staked in 9M 2017 increased by 69.1% yoy to EUR 1.3 billion
· Total Gross Win in 9M 2017 went up by 54.1% to EUR 185.3 million
· Total EBITDA in 9M 2017 reached EUR 28.3 million, up 77.9% yoy
· Net profit of the Company in 9M 2017 was EUR 7.9 million, 18.0% down yoy
„The solid reported financial results for the first nine months of 2017 reflect our growth strategy with investments into operational excellence, new platforms and regional expansion. Thanks to that, we recorded a substantial growth in all reported key indicators. Our Amounts Staked increased by 69.1% yoy to EUR 1.3 billion, Gross Win amounted to EUR 185.3 million and EBITDA reached EUR 28.3 million a yoy increase of 54.1% and 77.9% respectively. If we adjust for one-off costs related to M&A and Integration, the EBITDA increased 105.6% yoy. We also would like to confirm our original guidance for markets for the rest of 2017 and the increased guidance if we include the acquisitions“ said Per Widerström, CEO of Fortuna Entertainment Group.
The Group’s Amounts Staked for the first nine months of 2017 were EUR 1.3 billion, a strong 69.1% yoy growth. This increase was driven primarily by the growth in online, particularly in fixed-odds betting in all countries where Fortuna operates, by online casino in the Czech Republic and partially by consolidation of Hattrick Sports Group and Fortuna Romania.
In the first nine months of 2017, the total Gross Win reached EUR 185.3 million, an increase of 54.1% compared to the first nine months of 2016. The anticipated Gross Win Margin decline was driven by the less favourable sports betting results in the first months of this year and by the continuous increase of online betting and gaming.
In the first nine months of 2017, total EBITDA reached EUR 28.3 million, a 77.9% increase over the same period last year. EBITDA adjusted by one-offs related to M&A and integration costs was EUR 31.6 million, up 105.6% yoy.
Total Net profit of the Company for the first nine months of 2017 amounted to EUR 7.9 million, a 18.0% decrease yoy. Total Net profit adjusted by one-offs related to M&A, integration costs and intangible assets impairment reached EUR 14.4 million, up 59.5% yoy more.
Guidance for the rest of 2017
Including the Hattrick Sports Group and Fortuna Romania acquisitions, the Company expects that Amounts Staked will grow to EUR 1,900 million and EBITDA will increase with 80-95% yoy.
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