The Fortuna Group, a wagering and gambling enterprise with a substantial footprint in Central and Eastern Europe, has announced a considerable upswing in wagering activity for the initial three quarters of 2017. Their aggregate wagers placed escalated by almost 70% in contrast to the corresponding timeframe the preceding year. This remarkable expansion was propelled by a calculated emphasis on digital growth, especially in prominent sectors such as fixed-odds sports wagering and the flourishing online casino sector within the Czech Republic. They also attribute the successful assimilation of acquisitions like the Hattrick Sports Group and Fortuna Romania as pivotal factors in this accomplishment. Fortuna’s Chief Executive Officer, Per Widerström, emphasized how these outcomes, with robust growth in wagering volume, total payouts, and earnings before interest, taxes, depreciation, and amortization, illustrate the potency of their strategic direction. He did concede that non-recurring expenses associated with mergers and acquisitions did affect net earnings, but broadly, the corporation is well-situated for sustained expansion.
We anticipated solidifying our 2017 market projections and incorporating the anticipated expansion from the merger.