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Fortuna Group Announce Rise In Bets and Fall in Profits

Fortuna Group Announce Rise In Bets and Fall in Profits

16.11.2017 22:49
Fortuna Group Announced a Rise In Bets, Yet Profits Go DownThe first nine months of 2017 are the lucky ones for the Central European gaming and betting operator - Fortuna Group. They have boasted about it and made a public announcement of a rise in the year-on-year report by 69.1%.
By the end of 30th September, in the first nine months, the company in their last financial report declared income of €1.3bn, with increasing of a win by 54.1% to €185.3%, taken the same period every year.
Fortuna Group’s credits for growth go to online fixed odds betting in the same countries where it operates, in some parts by the reinforcement between Fortuna Group and Hattrick Sports Group.
The entire EBITDA (Earnings Before Interest, Tax, Depreciation, and Amortization) leaps by 77.9% year-on-year, or €28.3m. However, the net profits go down by 18% in the same period, or €7.9m.
The Chairman of the Management Board and CEO of Fortuna Entertainment Group, Per Widerström said that the results that have been reported are a proof of the company's excellence in creating their growth strategy, operations, investments, new platforms created, expansions on a regional level and whatnot.

They have reported 69% increase of amounts staked on a year-on-year basis. Their gross win climbed up to €185.3 million and EBITDA raised to €28.3 million, a year-on-year increase of 54.1% and 77.9% respectively.
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