Fortuna registers healthy growth in Q1

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The Netherlands-based Fortuna Entertainment Group has recorded a 157.6 per cent growth in the first quarter compared to that in the previous year. The total gross income of the company touched €110 million.

The company attributed this phenomenal growth to its ongoing growth strategy that resulted in a sharp rise in the amount staked by punters in the period.

Total consolidated income before interest, tax, depreciation and amortisation (EBITDA) reached €22.7m, because of higher betting volumes, online gaming addiction and the consolidation of Hattrick Sports Group and Fortuna Romania.

Total EBITDA for the quarter, if adjusted by one-offs related to integration, was increased by  723.9 per cent to €22.8 million.

Fortuna also reported that total net profit for quarter was up 923.6 per cent year-on-year to €14m, and if adjusted by one-offs related to integration and M&A costs, this figure increased 1113.4 per cent to €14.2m.

Per Widerström, chief executive and chairman of the board of Fortuna, said: “The strong reported financial results for the first quarter of 2018 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, this driven both by strong organic growth as well as M&A.

“We also would like to confirm our guidance for the rest of 2018.”


Source: European Gaming Industry News

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.