Fortuna´s Amounts Staked increased by 23.6% to EUR 411.9 million in the first half of 2015
Amsterdam/Prague/Warsaw – Fortuna Entertainment Group, the leading Central European fixed-odds betting operator, recorded for the first half of 2015 Amounts Staked of EUR 411.9m, up by 23.6% compared to the same period of the previous year. Group EBITDA (i.e. Earnings Before Interest, Tax, Depreciation and Amortisation) amounted to EUR 9.0m and declined by 39.1% compared to the first half of 2014.
“The results achieved were driven by strong demand for on-line sports betting, supported among others by our extended live streaming offer and the cancellation of on-line handling fee in Slovakia. The year-on-year comparison was however affected by the absence of the major sport events this year, particularly by the World Cup in Brazil last year which were driving strong Amounts Staked at a solid margin last year,” said Per Widerstrom, CEO and Chairman of the Board of Fortuna Entertainment Group. ”In line with our expectations, our outlook for the whole year remains unchanged.”
In the first half of 2015, the Gross Win came to EUR 67.1 million, an increase of 1.9% compared with the same period in 2014. The Gross Win from online sports betting in the first half of 2015 increased to EUR 38.3 million, an increase of 18.9% over the same period in 2014. The Gross Win from retail sports betting in the first half of 2015 amounted to EUR 24.8 million, 17.0% less than in the previous year. The retail betting decline was greatest in the Czech Republic and Slovakia.
Fortuna Group’s EBITDA reached EUR 9.0, down by 39.1% compared to the first half of 2014 and was strongly impacted by the cancellation of the on-line handling fee in Slovakia, less favourable sports results, higher marketing costs and also by the strong performance in the same period last year driven by World Cup in Brazil. Of the stated value, sports betting EBITDA formed EUR 8.5m, representing a year-on-year decline of 42.1%. Lottery EBITDA was EUR 475 thousand, up by 889.6% compared to the same period of the previous year.
The Company’s net profit amounted to EUR 4.8m in the first half of the year, down 46.9% year-on-year.
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