fortuna entertainment confident hitting 2017 targets

fortuna entertainment confident hitting 2017 targets

by 18.01.2018 0 comments

The governance of Eastern European gambling group Fortuna Entertainment NV has detailed that it is confident of hitting its full-year 2017 corporate guidance, following a strong end to 2017 trading.

Issuing a short market update, based on its preliminary unaudited 2017 results, Fortuna entertainment expects to generate total group corporate revenues of €1.9 billion.

Furthermore, the company has raised its full-year EBITDA growth range to +135-155%, from its original guidance of 80-95% on FY 2016 results.

The gambling operator, detailed a strong Q4 2017 closing period, in which its sports betting margin was bolstered by a series of favourable sporting results, recorded during the period.

Closing its statement, Fortuna governance detailed that it expects to deliver a 2017 group capital expenditure in the range of €11-14 million.

This January, Fortbet Holdings the largest shareholder in Fortuna Entertainment (80% equity), detailed that it had entered a binding agreement allowing the investment fund to acquire the gambling group outright.

Gaining approval, Fortbet seeks to turn Fortuna into a private enterprise delisting the firm’s placement on the Prague and Warsaw Stock Exchanges.

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