There’s no more legal impediment that will bar investors of the Eastern European betting and lottery operator Fortuna Entertainment Group from voting on its proposed acquisition of four Romanian gambling companies after a Dutch appellate court dismissed a petition against the firm’s move.
SeeNews reported that the Amsterdam Court of Appeals threw out the petition for injunction that Franklin Templeton investment funds as it seeks to stop the purchase of Bet Active Concept, Bet Zone, Public Slots and Slot Arena.
Per Widerström, CEO of Fortuna, lauded the court’s Monday decision, saying the company may now move forward with their plans to boost the company’s Romanian market presence. The company has scheduled an extraordinary meeting of shareholders planned on August 1 to vote on the acquisition plans.
“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,” Per Widerström, CEO of Fortuna, said, according to the news report.
In March, the Czech Republic-based Fortuna announced it was in the process of negotiating the acquisition of Romanian companies Bet Active Concept SRL, Bet Zone SRL, Public Slots SRL and Slot Arena SRL from Fortbet Holdings Ltd for €47 million (US$54 million).
Fortbet is the majority shareholder of Fortuna and the subsidiary of Penta Investment Group.
The purchase, however, was delayed after the Amsterdam Court of Appeals granted the petition filed by a group of shareholders advised by Templeton to stop the sale in April.
During the same month, Fortuna announced a €135m deal to acquire Hattrick Sports, which controls Romania’s leading betting brand Casa Pariurilor. That deal alone made Fortuna the number one retail betting operator in Romania, while also expanding its operations into Croatia.
Fortuna, which was established in 1990, posted a 12.2 percent revenue increase in the first quarter of 2017, thanks in part to its online betting operations. In the three months ending March 31, 2017, Fortuna said that its revenue grew to €42.7 million.
Showing posts with label Fortuna. Show all posts
Showing posts with label Fortuna. Show all posts
July 18, 2017
February 24, 2017
Fortuna Entertainment to pay up to €135m for Hattrick Sports
Central and Eastern European sports betting and lottery operator Fortuna Entertainment Group has bolstered its regional presence while also expanding its geographical reach through the acquisition of Hattrick Sports.
On Thursday, Fortuna announced that it had reached a deal to acquire 100% of Hattrick Sports Group Ltd., Ireland. Terms of the sale weren’t disclosed but Czech media reported that the deal involved an €85m upfront payment with a maximum possible top-up of €50m if the Hattrick brands meet certain performance benchmarks.
Fortuna cautioned that the sale remains subject to regulatory approval and the companies will continue to operate as separate entities until this approval has been granted.
Hattrick’s holdings include Casa Pariurilor, the leading betting operator in Romania. Hattrick’s brands also include Prva Sportska Kladionica (PSK), the second largest operator in Croatia, and Hattrick is also a joint venture partner in Spanish online and retail betting operator Luckia.
Fortuna CEO Per Widerström said it was his company’s intention to retain both the Fortuna and Casa Pariurilor brands in Romania as well as both PSK and Hattrick in Croatia. Widerström said the acquisition reflected Fortuna’s long-term strategy of becoming the “No. 1 licensed multichannel betting and gaming operator in Central and Eastern Europe.”
Hattrick CEO Carsten Sundberg said combining his company with Fortuna had “a compelling logic and aligns strategically very well,” adding geographical reach and market diversity to Fortuna’s existing operations in the Czech Republic, Slovakia and Poland.
Fortuna will release its preliminary results for its 2016 performance on March 9, with the annual report to follow on April 20. In its Q3 report last November, the company reported double-digit gains in betting turnover but profits fell due to steep new Czech taxes. The company has projected that its FY16 earnings will come in between 10% to 15% lower than 2015’s figures.
On Thursday, Fortuna announced that it had reached a deal to acquire 100% of Hattrick Sports Group Ltd., Ireland. Terms of the sale weren’t disclosed but Czech media reported that the deal involved an €85m upfront payment with a maximum possible top-up of €50m if the Hattrick brands meet certain performance benchmarks.
Fortuna cautioned that the sale remains subject to regulatory approval and the companies will continue to operate as separate entities until this approval has been granted.
Hattrick’s holdings include Casa Pariurilor, the leading betting operator in Romania. Hattrick’s brands also include Prva Sportska Kladionica (PSK), the second largest operator in Croatia, and Hattrick is also a joint venture partner in Spanish online and retail betting operator Luckia.
Fortuna CEO Per Widerström said it was his company’s intention to retain both the Fortuna and Casa Pariurilor brands in Romania as well as both PSK and Hattrick in Croatia. Widerström said the acquisition reflected Fortuna’s long-term strategy of becoming the “No. 1 licensed multichannel betting and gaming operator in Central and Eastern Europe.”
Hattrick CEO Carsten Sundberg said combining his company with Fortuna had “a compelling logic and aligns strategically very well,” adding geographical reach and market diversity to Fortuna’s existing operations in the Czech Republic, Slovakia and Poland.
Fortuna will release its preliminary results for its 2016 performance on March 9, with the annual report to follow on April 20. In its Q3 report last November, the company reported double-digit gains in betting turnover but profits fell due to steep new Czech taxes. The company has projected that its FY16 earnings will come in between 10% to 15% lower than 2015’s figures.
April 12, 2012
Fortuna expands NMS affiliate deal to major markets
Central European retail and online betting operator Fortuna Entertainment Group has expanded its agreement with affiliate marketing software provider Network Media Services (NMS) to include its operations in the Czech Republic, Slovakia and Poland.
Last August NMS signed an agreement to provide its EGaming Affiliate System Software (EGASS) to Malta-licensed FortunaWin, a subsidiary of Fortuna.
Following several months of research, Fortuna has now decided to expand its agreement with NMS to implement the company’s EGASS affiliate management system for its core operations in the Czech Republic, Slovakia and Poland.
“Since we have proved that EGASS has a market leading product we are pleased to extend our partnership for Czech and other markets where Fortuna operates,” said Fortuna’s online marketing manager, Jaroslav Kulenda.
The agreement will now lead to the rollout of a major affiliate marketing drive across Fortuna’s territories.
“We are delighted to have expanded this agreement with one of the most exciting new companies in this industry,” said Ian Jewers, founder and CEO of NMS. “Fortuna Entertainment Group is operating across multiple market territories and their requirements for multi-language and multi-currency support, independent territory invoicing and an extremely powerful integrated social media marketing solution has been surpassed by the EGASS platform.
“The team at NMS has been developing products for this industry since 1997 so we have been able to draw on a huge amount of experience, not only as developers, but as super affiliates ourselves.”
Other operators currently utilising the EGASS affiliate system include the likes of Italy’s Microgame, Mahjong Logic, Oddsfutures.com, Havana Casino and the soon-to-be-launched Hippodrome Casino online offering.
Last August NMS signed an agreement to provide its EGaming Affiliate System Software (EGASS) to Malta-licensed FortunaWin, a subsidiary of Fortuna.
Following several months of research, Fortuna has now decided to expand its agreement with NMS to implement the company’s EGASS affiliate management system for its core operations in the Czech Republic, Slovakia and Poland.
“Since we have proved that EGASS has a market leading product we are pleased to extend our partnership for Czech and other markets where Fortuna operates,” said Fortuna’s online marketing manager, Jaroslav Kulenda.
The agreement will now lead to the rollout of a major affiliate marketing drive across Fortuna’s territories.
“We are delighted to have expanded this agreement with one of the most exciting new companies in this industry,” said Ian Jewers, founder and CEO of NMS. “Fortuna Entertainment Group is operating across multiple market territories and their requirements for multi-language and multi-currency support, independent territory invoicing and an extremely powerful integrated social media marketing solution has been surpassed by the EGASS platform.
“The team at NMS has been developing products for this industry since 1997 so we have been able to draw on a huge amount of experience, not only as developers, but as super affiliates ourselves.”
Other operators currently utilising the EGASS affiliate system include the likes of Italy’s Microgame, Mahjong Logic, Oddsfutures.com, Havana Casino and the soon-to-be-launched Hippodrome Casino online offering.
August 25, 2011
Fortuna targets rival in Polish betting market expansion
European retail and online betting operator Fortuna Entertainment Group said Thursday that it is currently in negotiations to acquire the Polish subsidiary of rival Tipsport, as the company looks to strengthen its hold on the recently liberalised Polish betting market.
Fortuna said that the acquisition of Tipsport PL Sp. z.o.o would expand its Polish betting network which currently comprises 380 branches and a further 190 retail outlets across the country.
Earlier this month, Fortuna filed a formal request with the Polish Ministry of Finance related to the change of shareholders in Tipsport PL. The final decision by the Ministry is expected within three months. No financial details have yet been made available for the proposed transaction.
“We have begun due diligence this week and if there will be no unexpected complications, then nothing will prevent the conclusion of the takeover of Tipsport PL before the end of this September,” said Jiří Bunda, CEO of Fortuna Entertainment Group.
As a result of the acquisition, Fortuna will increase its stake in the Polish fixed-odds betting market by one third and further strengthen its position as the largest fixed-odds betting operator on the Polish market.
“Our strategy is a combination of branch network and online betting,” continued Bunda. “We are engaged in intensive preparations to expand network retail outlets and strengthen our market position so that it will positively impact on online betting in Poland.”
On May 26th, the Polish parliament amended the gambling law to allow online sports betting for locally licensed players. The new regulations also strengthened the Polish Customs Service’s authority in controlling illegal online gambling activities, including monitoring and suspension of money transfers.
The new regulations came into force on July 14th, with parliament maintaining the high 12 per cent tax on betting turnover.
Immediately after the new regulations were introduced, Fortuna’s Polish subsidiary, Fortuna zakłady bukmacherskie, submitted a request to the Ministry of Finance for permission to provide its clients in Poland with online betting.
The Ministry of Finance is expected to approve this within the next few months, the company said.
In its results for the six month period ended June 30th, also released this morning, Fortuna said that revenues from Poland accounted for 15 per cent of total revenues.
Fortuna said that the acquisition of Tipsport PL Sp. z.o.o would expand its Polish betting network which currently comprises 380 branches and a further 190 retail outlets across the country.
Earlier this month, Fortuna filed a formal request with the Polish Ministry of Finance related to the change of shareholders in Tipsport PL. The final decision by the Ministry is expected within three months. No financial details have yet been made available for the proposed transaction.
“We have begun due diligence this week and if there will be no unexpected complications, then nothing will prevent the conclusion of the takeover of Tipsport PL before the end of this September,” said Jiří Bunda, CEO of Fortuna Entertainment Group.
As a result of the acquisition, Fortuna will increase its stake in the Polish fixed-odds betting market by one third and further strengthen its position as the largest fixed-odds betting operator on the Polish market.
“Our strategy is a combination of branch network and online betting,” continued Bunda. “We are engaged in intensive preparations to expand network retail outlets and strengthen our market position so that it will positively impact on online betting in Poland.”
On May 26th, the Polish parliament amended the gambling law to allow online sports betting for locally licensed players. The new regulations also strengthened the Polish Customs Service’s authority in controlling illegal online gambling activities, including monitoring and suspension of money transfers.
The new regulations came into force on July 14th, with parliament maintaining the high 12 per cent tax on betting turnover.
Immediately after the new regulations were introduced, Fortuna’s Polish subsidiary, Fortuna zakłady bukmacherskie, submitted a request to the Ministry of Finance for permission to provide its clients in Poland with online betting.
The Ministry of Finance is expected to approve this within the next few months, the company said.
In its results for the six month period ended June 30th, also released this morning, Fortuna said that revenues from Poland accounted for 15 per cent of total revenues.
July 19, 2011
Fortuna launches new Czech lottery game with Intralot
Greece’s Intralot has confirmed the launch of Fortuna Entertainment Group’s first numerical lottery game in the Czech Republic, as the battle to dominate the country’s lottery market heats up.
Intralot said Monday that it has launched operations at Fortuna’s network of more than 700 terminals for the operation of numerical, fast and instant games, which will rise to some 1,000 terminals in the next few weeks.
Under the company’s ten-year contract with Fortuna, Intralot intends to supply up to 3,500 lottery terminals, which are expected to be installed by the end of 2012.
“Fortuna is launching its operations much earlier than expected and is ready to provide a wide portfolio of gaming offerings to its customers in Czech Republic,” said Martin Illner, CEO of Fortuna Lottery. “So far, we have managed to develop a wide network of well-placed PoS that we are planning to expand further.
“We are confident that together with our experienced technological vendor, Intralot, we will manage to become the market leader of the country and recreate its gaming world.”
With problems besetting rival Sazka in recent times, Fortuna hopes to gain a 30 per cent share of the market within the next two years.
“We are pleased to cooperate with Fortuna, a strong player in Central Europe, in our strategic decision to enter the very promising Czech market,” said Fotis Mavroudis, Intralot’s managing director for Europe/North Africa region. “Intralot has supported the early launch of the project and will also secure its smooth and successful operation.
“Fortuna’s extended experience of the local market, together with Intralot’s international know-how guarantee the positive results of the project.”
The launch of numerical lottery games comes three months ahead of schedule and follows the recent introduction of a new lottery product from another rival, Tipsport, which was forced into a last minute name change following a challenge by Sazka.
Intralot said Monday that it has launched operations at Fortuna’s network of more than 700 terminals for the operation of numerical, fast and instant games, which will rise to some 1,000 terminals in the next few weeks.
Under the company’s ten-year contract with Fortuna, Intralot intends to supply up to 3,500 lottery terminals, which are expected to be installed by the end of 2012.
“Fortuna is launching its operations much earlier than expected and is ready to provide a wide portfolio of gaming offerings to its customers in Czech Republic,” said Martin Illner, CEO of Fortuna Lottery. “So far, we have managed to develop a wide network of well-placed PoS that we are planning to expand further.
“We are confident that together with our experienced technological vendor, Intralot, we will manage to become the market leader of the country and recreate its gaming world.”
With problems besetting rival Sazka in recent times, Fortuna hopes to gain a 30 per cent share of the market within the next two years.
“We are pleased to cooperate with Fortuna, a strong player in Central Europe, in our strategic decision to enter the very promising Czech market,” said Fotis Mavroudis, Intralot’s managing director for Europe/North Africa region. “Intralot has supported the early launch of the project and will also secure its smooth and successful operation.
“Fortuna’s extended experience of the local market, together with Intralot’s international know-how guarantee the positive results of the project.”
The launch of numerical lottery games comes three months ahead of schedule and follows the recent introduction of a new lottery product from another rival, Tipsport, which was forced into a last minute name change following a challenge by Sazka.
March 11, 2011
Fortuna appoints Stefanek in Poland
Eastern European online sportsbook operator Fortuna Entertainment Group NV has announced that Jan Stefanek has been appointed as the new General Manager of its Fortuna Zaklady Bukmacherskie subsidiary in Poland.
Fortuna is a leading fixed-odds betting operator with outlets across Central and Eastern Europe and revealed that Stefanek has served as Sales Director for its Polish unit since February of 2007 and was appointed to the board of Fortuna Zaklady Bukmacherskie five months later.
The 33-year-old holds a degree in economics and management from the Business University of Ostrava and worked as Projet Manager for Koras Trade for two years beginning on 2000 where he was responsible for constructing a telecommunication network for mobile operator Cesky, which is now known as Vodafone CZ.
“In 2003 and 2005, he was a real estate developer and participated in a number of large real estate development projects in North Moravia,” read a statement from Fortuna.
“Later, in 2006 and 2007, he worked as Project Development Manager with construction company TCHAS. As the General Manager of Fortuna Zaklady Bukmacherskie in Poland, he is replacing Ales Dobes who decided to resign from the post in order to pursue other career opportunities.”
Fortuna is a leading fixed-odds betting operator with outlets across Central and Eastern Europe and revealed that Stefanek has served as Sales Director for its Polish unit since February of 2007 and was appointed to the board of Fortuna Zaklady Bukmacherskie five months later.
The 33-year-old holds a degree in economics and management from the Business University of Ostrava and worked as Projet Manager for Koras Trade for two years beginning on 2000 where he was responsible for constructing a telecommunication network for mobile operator Cesky, which is now known as Vodafone CZ.
“In 2003 and 2005, he was a real estate developer and participated in a number of large real estate development projects in North Moravia,” read a statement from Fortuna.
“Later, in 2006 and 2007, he worked as Project Development Manager with construction company TCHAS. As the General Manager of Fortuna Zaklady Bukmacherskie in Poland, he is replacing Ales Dobes who decided to resign from the post in order to pursue other career opportunities.”
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