Fortuna Loterie sells 10 percent stake

Fortuna Entertainment Group’s Czech subsidiary Fortuna Loterie has entered into a cooperation agreement with E-Invest, who will buy a 10 percent stake in the firm, the proceeds of which will be used to speed up the roll-out of the distribution network and strengthen the management team.

Fortuna Loterie operates the numerical games LOTO and SUPERLOTO along with scratch tickets in the Czech market.

“By signing this agreement, Fortuna Loterie will obtain a strong shareholder and strategy partner that will bring a substantial input into the next development of Fortuna lottery segment,” said Radim Haluza, newly appointed chief executive of Fortuna Entertainment Group.

“On the other hand, E-INVEST will have an opportunity to participate on further lottery growth of which its goal is to reach approximately 15-20 percent market share by mid 2014.”

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