Online Revenues Boost Czech Gambling Group

ONLINE REVENUES BOOST CZECH GAMBLING GROUP

07th May, 2013 at 06:31:12
Source: http://www.azonlinecasinos.com

Internet sports betting gross win in Q1 2013 increased by 33.8% to Euro 13.6 million

Czech online and land betting company Fortuna Entertainment Group posted a 34.4% increase in EBITDA in the first quarter 2013 to Euro 11.3 million, with online operations making a substantial contribution.

The steep increase was mainly due to strong growth in sports betting and a positive lottery EBITDA, the company said Tuesday.

The reported financial results confirmed a robust performance, which was a continuation of what was seen in the previous reporting period, as well as outstanding top line figures for all key parameters, and confirmed growth in the main markets where the company operates.

* Total Amounts Staked in Q1 2013 increased by 24% to Euro 141.2 million

* Total Gross Win in Q1 2013 up by 9% to Euro 33.5 million

* Online sports betting Gross Win in Q1 2013 increased by 33.8% to Euro 13.6 million

* Total EBITDA in Q1 2013 grew by 34.4% to Euro 11.3 million

Amounts staked across the group for the first quarter of 2013 were Euro 141.2 million, a strong 24% y-o-y increase. This growth was driven primarily by the expansion of online betting in the national markets in Europe where Fortuna operates.

Amount staked on sports betting reached Euro 137.1 million in the first quarter of 2013, a 26.2% improvement on the first quarter of 2012, whilst amount staked on lottery betting in the first quarter of 2013 totalled Euro 4.2 million.

The Gross Win from sports betting was Euro 31.4 million, an 11.7% increase y-o-y. Of this figure, the Gross Win from online betting in the first quarter of 2013 increased to EUR 13.6 million, a substantial gain of 33.8% over the same period of 2012.

Gross Win from retail betting in the first quarter of 2013 amounted to Euro 17.8 million, a 0.8% decline y-o-y. In the first quarter of 2013, the Gross Win from the lottery business was Euro 2.1 million.

In the first quarter of 2013, total EBITDA increased to Euro 11.3 million, a 34.4% increase over the same period of last year. The total is drawn from a 17.4% growth in sports betting to Euro 11.3 million and a positive lottery EBITDA of Euro 40,000.

Radim Haluza, CEO of Fortuna Entertainment Group said:

We are pleased to once more report very solid results, this time for the first quarter of 2013. The results confirm a continuation of the strong momentum that started at the end of last year.

"The main driver of our performance was clearly the online segment in sports betting which continues to deliver double-digit growth in all the countries where Fortuna is present. In addition, we are reporting positive EBITDA in the lottery segment for the first time, which has also boosted our profitability.

Haluza said that management is proposing to the upcoming AGM to be held this month to pay out a dividend of Euro 0.67 per share consisting of a dividend from the 2012 net profit, a dividend from retained earnings and a share premium distribution.

Related News Tags:



« News index »



WEST VIRGINIA ONLINE GAMBLING BILL MEETS EARLY OPPOSITION (Update)

25th March, 2017 at 08:38:18
HB3067 faces political and time constraints.

MORE DETAILS ON COSTA ONLINE GAMBLING LEGALISATION BILL IN PENNSYLVANIA (Update)

21st March, 2017 at 21:54:56
Senator Jay Costa introduces his bill SB524 with the support of three other senators.

CALLS FOR HIGHER GAMBLING TAXES IN KENYA

20th March, 2017 at 07:18:24
Operators brace for rising costs as parliamentary advisers call for more taxation.

REPUBLICANS FILE ANTI-ONLINE GAMBLING BILL IN PENNSYLVANIA

14th March, 2017 at 08:11:41
HB801 has echoes of last year's unsuccessful attempt authored by former Representative (now Senator) Mario Scavello.

IGT ACHIEVES ICAP RE-CERTIFICATION

13th March, 2017 at 13:44:19
Compliant with Internet Responsible Gambling Standards.