Leading Czech online sports betting operator Fortuna Entertainment Group reported a 8.7 percent increase in total revenues in the nine months of 2012 compared year-on-year with the same period in 2011.
The good results for the Czech fixed-odds sports betting company came despite a loss from its online lottery operations due to start-up costs.
Fortuna Group announced to the gambling news in the Czech Republic that its gross win was up 23.4 percent up year-on-year to EUR 25.8 million, with total revenues up 8.3 percent year-on-year to EUR 67.6 million.
The online lottery segment showed a EUR 3.5 million loss in line with forecast budget.
Chairman of the Management Board of Fortuna Entertainment Group, Wilf Walsh commented: “The double digit growth in Amounts Staked on the Group level and the high single digit growth reported by the Sports Betting division were mainly driven by a successful expansion of on-line betting in all core markets, including our new regulated on-line business in Poland.”
Walsh added: “We are reporting growth rates which are in line with our long-term targets for sports betting. On top of that, we have completed a comprehensive review of our lottery business in order to minimize EBITDA impact and to reach break-even during the first half of next year.”
Good Central European sports betting results
Here are the year-on-year results for the first nine months in 2012. Amounts staked are EUR 320.2 million, up 7.7 percent, gross win up 2.9 percent to EUR 71 million.
Online sports betting gross win up 23.4 percent to EUR 25.8 million, mainly because growth in the Polish and Czech markets.
The newly introduced online sports betting in Poland showed a gross win of EUR 2.2 million. Internet Sports bets in Czech Republic had a gross win growth 24 percent to EUR 14.5 million. Gross win from online betting in Slovakia was 0.4 percent down to EUR 9.1 million.
Now here are the Czech gambling laws allowed lottery business year-on-year numbers. Amounts staked up 213.8 to EUR 13.9 million. Gross win up 255.2 percent to EUR 7 million, revenues up 254.4 percent to EUR 7.1 million.