Fortuna Entertainment Group wins appeals court ruling on planned Romanian acquisition

A Dutch appellate court has dismissed a petition seeking to block Eastern European betting and lottery operator Fortuna Entertainment Group from voting on its proposed acquisition of four Romanian gambling companies.

The extraordinary meeting of Fortuna Entertainment Group shareholders planned for August 1 is now free to approve all acquisitions, said Fortuna in a press release.

Per Widerström, CEO of Fortuna, commented: “This acquisition, together with previously acquired Casa Pariurilor (as part of Hattrick Sport Group), means that Romania will become our biggest market and that Fortuna Entertainment Group will become the number one regulated sports betting and gaming operator in the Romanian market“.

In April, the Amsterdam Court of Appeals prohibited Fortuna shareholders from voting on the proposed acquisition after a group of shareholders advised by Templeton filed an injunction to stop the sale.

In March, Fortuna announced that it plans to buy Romanian companies Bet Zone, Public Slots, Bet Active Concept and Slot Arena from Fortbet Holdings Limited for some 47 million euro ($54 million).

Also in April, Fortuna acquired Hattrick Sports Group’s operations in Romania, Croatia and Spain for an undisclosed sum. Hattrick was the owner of the leading betting operator in Romania, Casa Pariurilor.

Through these multiple acquisitions, Fortuna Entertainment Group aims to become a new betting market leader in Romania, where it has been present since September 2015 through a brand licensed agreement.

About Fortuna

The Fortuna Entertainment Group was established in 2009 and it is the largest Central European betting operator. Originally a Czech firm, it has grown into a holding company over time, and it now also operates on the Slovak and Polish markets. The group is constantly investing in new products and expanding its existing network of branches and services.