A prominent European wagering and entertainment corporation, Fortuna Group, has revealed remarkable financial figures for the initial three quarters of 2017. The company witnessed a substantial 69.1% upswing in wagering volumes in contrast to the corresponding timeframe in the preceding year.
This equates to an aggregate of €1.3 billion staked by patrons by the conclusion of September. This extraordinary expansion in wagering engagements propelled a 54.1% escalation in overall earnings, attaining €1.853 billion.
The enterprise ascribes this triumph to several pivotal elements. Primarily, their digital endeavors have undergone considerable enlargement, notably within their domestic Czech Republic market. This encompasses both their customary fixed-odds athletic wagering and their internet-based casino offerings. Additionally, tactical acquisitions such as Hattrick Sports Group and Fortuna Romania have amplified their scope and clientele.
This favorable impetus is similarly apparent in their profitability. Earnings preceding interest, taxation, depreciation, and amortization (EBITDA) surged by an remarkable 77.9% to €28.3 million. Nevertheless, it’s noteworthy that net income experienced a marginal decline of 18%, reaching €7.9 million for the period.
Per Widerström, Chief Executive Officer of Fortuna Entertainment Group, conveyed his contentment with the outcomes, remarking, “These robust financial outcomes serve as evidence of our strategic emphasis on operational efficiency, our innovative platform, and broadening our presence.” He underscored that all their essential performance metrics exhibited substantial advancement.
Widerström emphasized the company’s accomplishments, “Our wagered sums expanded by 69.1% year-on-year, hitting €1.3 billion, while gross winnings attained €1.853 billion and EBITDA reached €28.3 million, signifying year-on-year augmentations of 54.1% and 77.9% correspondingly.” He further appended, “If we account for non-recurring expenditures associated with mergers and acquisitions and assimilation, our EBITDA escalated by 105.6% year-on-year.”
They sought to grasp market forecasts for the remainder of 2017, particularly how anticipated expansion from the merger would play a role.
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