Latest News
Fortuna reports EUR 720.7m in amounts staked in H1 2017, up 40.9 percent
Fortuna Entertainment Group N. V., the leading Central European regulated multi-channel fixed odds betting and gaming operator, has announced preliminary unaudited consolidated results for the first half of 2017.
– Total Amounts Staked increased by 40.9 percent to EUR 720.7m in H1 2017
– Total Gross Win for this period grew by 24.5 percent to EUR 100.2m
– Total EBITDA decreased by 22 percent to EUR 7.6m
“During the first half of the year, the volume of bets accepted by the Group continued to grow rapidly, reaching EUR 720.7m, up 40.9 percent compared to the same period the previous year. This strong growth was the result of solid performances in all traditional markets where Fortuna operates. The recently acquired Hattrick Sports Group Ltd., operating in Romania, Croatia and other countries, also contributed. Our operating profitability, as measured by EBITDA, was mainly influenced by the one-off costs associated with our expansion across the CEE region, coupled with integration into the Group of recently acquired business operations,” said Per Widerström, CEO and Chairman of the Board, Fortuna Entertainment Group N.V.
In the first six months of 2017, Fortuna recorded total Amounts Staked of EUR 720.7m, which, compared with the same period the previous year, is an increase of 40.9 percent. This strong growth in the volume of accepted bets was mainly driven by continued expansion in online betting across all markets, including online gaming in the Czech Republic. It was also supported by the performance of Hattrick Sports Group Ltd., consolidated since the end of May 2017.
During the first six months of 2017 Fortuna’s Gross Win increased by 24.5 percent year on year to EUR 100.2m. The growth in Gross Win was mainly driven by an expansion of the online side of the Group’s gaming business, which is characterised by a lower margin.
Fortuna Entertainment Group’s EBITDA for the first half of 2017 was EUR 7.6m, 22 percent lower than during the same period the previous year. EBITDA was significantly affected by one-off costs associated with expansion across the CEE region and the integration into the Group of recently acquired business operations. Excluding these one-off costs, EBITDA would have increased by about 8 percent year on year.
The Group’s total net profit for H1 2017 was EUR 2.5m, 53.1 percent lower than H1 2016 figures. This decrease was caused by the aforementioned one-off expansion and integration costs as well as one-off costs relating to the refinancing of the Group’s external debt.
Africa
Hub88 partners with LiveGames to enhance content offering
Hub88 has partnered with live casino supplier LiveGames, further strengthening its product offering by adding a unique range of content to its platform.
LiveGames provides fully customisable online live dealer games and branded tables including the first vertical roulette table in the sector, along with crash games and the widely played Tombola.
The supplier delivers experiences with a player-focused design, easy to use mobile interface, and high-resolution broadcasts.
The partnership will support LiveGames’ goal to further expand in international markets, including Africa, Asia, and Latin America where Hub88 has a strong presence.
The deal showcases Hub88’s commitment to grow its ecosystem of partners, offering a diverse portfolio of products and content.
Ollie Castleman, Head of Hub88, said: “We’re thrilled to unveil this strategic partnership with LiveGames which sees us add a great provider to our platform, one that utilises modern technology to offer bespoke and personalised gaming experiences to players.
“We are looking forward to collaborating and strengthening our content library with their diverse games.”
The LiveGames Team said: “Our journey started in a small studio and as a team, we are excited about now expanding to every corner of the world together with Hub88 and their extensive operator network.
“We are committed to promoting innovation in the industry and this partnership will support us on that mission.”
Balkans
Wazdan marks Croatian market entry with PSK partnership
Wazdan, the gain-focused developer behind some of the world’s most rewarding casino game experiences, has entered the Croatian market after signing with PSK, a leading operator in the country.
The provider is taking some of its most acclaimed slots live with the operator, including player-favourites such as 9 Coins™ 1000 Edition, Hot Slot™: Magic Bombs, Burning Stars 3™, which will become available to Croatian players for the very first time.
A prominent operator in the country since 1998, PSK is part of the internationally-known Fortuna Entertainment Group. With over 900 employees and a constantly growing player base, the brand is set to enrich its content offering with Wazdan’s titles.
Croatia marks the newest market entry for Wazdan, which further boosts its impressive European performance as a result of this deal. More partnerships in the country are expected to be announced in due course.
Radka Bacheva, Sales and Business Development at Wazdan: “Croatia is a country that boasts a fantastic amount of potential, so we’re delighted to be entering the market for the very first time with PSK, a top-tier operator.
“We’re bringing a range of our top-performing titles to its platform, and are excited to see the reception from Croatian players towards our mechanics. We’re confident this will be the start of a successful collaboration.”
Martina Pehar, Group Product Specialist at PSK said: “It’s an honour to welcome Wazdan to the Croatian market for the first time as part of this deal – we’ve seen the reception to their dynamic slots across the world, and we’re thrilled to be bringing them to our players.
“Wazdan bring a fantastic collection of their titles to our platform, including standouts such as Power of Gods: Hades and Clover Lady, that we’re sure our customers are going to embrace. We look forward to seeing the results!”
Compliance Updates
Boldplay Awarded UKGC Licence
Boldplay, the renowned provider of premium casino games, has been awarded a remote operating licence from the UK Gambling Commission, to sit alongside their existing licenses in Gibraltar, Malta, Romania, Argentina, and Peru.
This latest development marks a significant step for the company and further solidifies Boldplay’s position as a trusted provider within the iGaming industry. The UKGC licence will allow the company to further expand in regulated territories, a key element of their growth plan, and establish new partnerships within the vibrant UK market.
Having fulfilled the criteria to provide services to UK players Boldplay is well-positioned for success. With a diverse catalogue of over 100 titles, ranging from slots and table games to bingo, keno, and virtual scratch cards, the company is well-known for its innovative features, including their trademark Boldplay Spins.
Speaking of the UK Gambling Commission’s decision to grant the operating licence, Boldplay CEO, Valli Fragoso, said: “We are proud to receive our remote software supplier licence from the UK Gambling Commission. This milestone reflects our commitment to providing high-quality, engaging casino games to licensed operators while upholding responsible gaming standards. We can’t wait for UK players to try our games.”
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