Fortuna H1 performance boosted by online sports betting

Fortuna Entertainment has cited the impact of its growing online sports betting business as the main reason behind a “robust performance” in the six months to June 30.

Total amounts staked by customers in the first half of the year increased 24.2% year-on-year to €511.6 million ($578 million), with total gross win also up by 19.9% to €80.5 million.

Fortuna noted that online gross win within its online sports betting arm hiked 30.9% year-on-year to €50.2 million, with total earnings before interest, tax, depreciation and amortisation (EBITDA) up 7.7% to €9.7 million.

Net profit for the first half came in at €5.4 million, 12.1% more than last year.

“Our robust performance was driven by growing online sports betting, and in particular mobile, in all the countries where Fortuna operates,” Fortuna chief executive and chairman, Per Widerström, said.

“The growth was also supported by the UEFA EURO 2016 football tournament in France in which the national teams played from all the countries where Fortuna is present.”

Meanwhile, Fortuna has brokered a deal with Playtech for the supply of a multi-channel betting and gaming platform.

Under the agreement, Playtech will provide Fortuna with a platform that will enable the company to take advantage of tools such as a customised and scalable multi-channel solution.

“The Playtech platform, being customised for Fortuna’s needs, will enable us to offer a market leading scalable multi-channel, -product and -jurisdiction offering,” Widerström said.

Mor Weizer, chief executive of Playtech, added: “Having so successfully launched the Fortuna brand in Romania, Playtech is delighted to be announcing the partnership with the Fortuna with respect to Czech Republic, Poland and Slovakia as well as future potential new regulated markets.

“Fortuna is the leading regulated multi-channel and -product operator in Central and Eastern Europe and we are looking forward to working with the team to take Fortuna’s growth to the next level.”

Related article: Fortuna claims ongoing growth in Q1 as gross win rises