Strong half year from Fortuna Entertainment

Eastern Europe-facing online and land gambling firm Fortuna Entertainment has reported a half year of robust revenue growth in both sports betting and gaming divisions, highlighting:

* Group revenues up 40.9 percent y-o-y at Euro 720 million;

* Gross win up 20 percent at Euro 100 million;

* Net profits od Euro 2.5 million;

* Group EBITDA down 22 percent at Euro 7.6 million;

* Hattrick Sports and Fortbet Romania acquisition and integration expenses of Euro 135 million and Euro 47 million respectively;

Chief executive officer Per Widerström, reported:

“During the first half of the year, the volume of bets accepted by the Group continued to grow rapidly compared to the same period the previous year. This strong growth was the result of solid performances in all traditional markets where Fortuna operates.

“The recently acquired Hattrick Sports Group Ltd., operating in Romania, Croatia and other countries, also contributed. Our operating profitability, as measured by EBITDA, was mainly influenced by the one-off costs associated with our expansion across the CEE region, coupled with integration into the Group of recently acquired business operations,”

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