Betting company Fortuna Entertainment Group reported accepted bets totalling EUR 1.04bn for 2016, up 22.6% y/y, according to preliminary unaudited results. Gross prizes increased by 10.5% to EUR 163m. The group’s performance was supported by stronger results of online and mobile sports bets. Total EBITDA dropped 18.5% to EUR 22.1m. net profit reached EUR 11.2m, down 42.4% y/y. Fortuna Entertainment Group’s CEO and board of directors chairman Per Widerström has stated that the EBITDA was influenced by the raising of the betting tax in the Czech Republic, unfavourable development of sports results and planned increase in operating costs related to the firm’s support for growth opportunities.
