Fortuna Entertainment Group, the leading Central European betting and gaming operator, has announced its unaudited consolidated results for the first nine months of 2017
The amount staked by Fortuna customers during the nine months amounted to €1.3bn, which is some 69.1% ahead of last year. 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.
Fortuna put this rise down to growth within in its online business, particularly in fixed-odds betting in countries where the firm operates, by online casino in the Czech Republic and partially by the consolidation of Hattrick Sports Group and Fortuna Romania.
Meanwhile, total earnings before interest, tax, depreciation and amortisation (EBITDA) reached €28.3m in the first nine months of 2017, 77.9% more than in the same period last year.
Fortuna also noted that EBITDA adjusted by one-offs related to M&A activity and integration costs was €31.6m, which is up 105.6% on a year-on-year basis.
In addition, total net profit amounted to €7.9m, which is 18% down on last year, but when adjusted for one-off costs related to M&A, integration and intangible assets, this figure stands at €14.4m and is up 59.5% year-on-year.