Fortuna Posts Impressive Results

Online and retail sportsbook operator Fortuna Entertainment Group in Central and Eastern Europe reported a 34.5 per cent rise in net income in the first half of 2013.

The firm reported a net profit of €7.6 million ($10.1 million), just below analysts’ expectations of a 37% rise.

The group explained the increase by citing higher amounts staked by customers and a lower loss on the company’s lottery business.

Gross winnings grew by 4.1% to €57.4 million on a 20.4% rise in amounts staked to €275.9 million – greater than the €276.4 million predicted by analysts.

Elsewhere, earning before interest, tax, depreciation and amortisation increased by 27.4% to €12.9 million.

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