Vladimír Urbánek (Kurzy.cz)
Czech markets  |  November 08, 2012 08:36:58

Fortuna: Total Staked 9M12 grew by 10.7%


Leading betting company in Central Europe Fortuna Entertainment Group NV, adopted for the first nine months of 2012 the total bet on the value of EUR 334.1 million, which is 10.7% more than in the same period last year. This follows from the preliminary unaudited results.

Main indicators of the Group for the first nine months of 2012:

·          Staked increase by 10.7% to EUR 334.1 million

·          The increase in gross win by 10% to EUR 78 million

·          The increase in gross winnings from sports betting over the internet by 23.4% to EUR 25.8 million

·          The increase in total revenues up by 8.3% to EUR 67.6 million

·          EBITDA in the lottery segment loss of EUR 3.5 million - in line with the plan

"Two-digit growth staked at the group level and significant single-digit growth staked in sports betting was achieved mainly successful development of online wagering on all new regulated markets, including foreign exchange betting over the internet in Poland," said WilfWalsh, Chairman of the Board of Fortuna Entertainment Group. "Shows growth rates that are in accordance with our long-term goals in the segment odds betting. To do this, we have completed our analysis of the total lottery business in order to minimize its impact on EBITDA and achieve profitability in the first half of next year. "

Group Highlights

Total bets received for the first nine months of 2012 amounted to EUR 334.1 million, which is 10.7% more compared to the first nine months of the 2011th Total gross win (Gross Win) amounted to EUR 78 million, up compared to the first nine months of 2011 by 10%.

The Group recorded total revenues for the first three quarters of 2012 of EUR 67.6 million, which is 8.3% more compared to the same period last year.

Total EBITDA for the first nine months of 2012 reached EUR 13.3 million and decreased by 6.2% yoy due to higher taxation in the Czech Republic introduced since the beginning of the year and the costs associated with the lottery project.

Sportsbook

During the first nine months of 2012 amounted Staked (Amounts Staked) level of 320.2 million EUR, which is 7.7% more than in the same period last year. This is a promising result fully consistent with the long-term goal of the company, which is the higher single-digit growth rate for the betting exchange rate.

Gross winnings (Gross Win) from odds betting grew by 2.9% and amounted to EUR 71 million for the first nine months 2012th Margin gross winnings from betting exchange was lower than expected in the second and also in the third quarter of 2012.In the second quarter it was caused betting results during the European Football Championship 2012 and in recent weeks Premier League. In the third quarter gross win margin was affected by unfavorable results betting during the month of September in the UEFA Champions League qualifying and the World Cup.

The reported results was influenced mainly by growth in revenues from online betting.Gross winnings from betting exchange over the Internet in the first nine months increased by 23.4% to EUR 25.8 million, mainly due to growth in the Polish and Czech markets.

Gross Win from odds betting on branches amounted in the first nine months of 45.2 million, which is down by 6% less.

EBITDA from betting exchange rate reached in the first nine months of 2012 of EUR 16.8 million, which is 8% less than in the first nine months of 2011. The decrease was due to higher odds betting tax in the Czech Republic since the beginning of the applicable year.

Sportsbook - Poland

Dosáhlo14 Poland, 6% share of the total bets received (Amounts Staked) of the Group in the first nine months of 2012 compared to 12.2% in 2011.Total Staked in Poland amounted in the first nine months of 48.6 million euros, 31.9% more than last year. With starting odds betting over the internet in Poland at the end of January 2012, the company managed to reverse the declining trend in staked in the previous period due to adverse tax regime for legal operators.

Gross winnings (Gross Win) from odds betting in the first nine months of 2012 in Poland 17 million, which is by 20.1% more. Gross winnings from the newly launched online betting amounted to 2.2 million EUR. Gross winnings from bets on branches increased in the first nine months of this year by 4.7% to 14.8 million.Fortuna posted revenues of the Polish market for the first nine months of the year EUR 11.2 million, which is 12.2% more than last year.

At the end of January 2012 Fortuna launches in Poland online odds betting as the first operator in Poland regulated at all. Currently operate in the Polish market odds betting on the internet, only two companies with a license.

Sportsbook - Czech Republic

Odds betting in the Czech Republic generated in the first nine months of the year was 52.2% of total bets received, which is almost the same proportion as last year     (52.9%). Total bets received amounted to EUR 174.4 million, an increase of 9.3% over the first nine months of 2011.

Gross winnings (Gross Win) from odds betting increased in the first nine months of the year compared to last year by 0.2% to 31.7 million. The lower gross margin percentage was due to the already mentioned results bets on Euro 2012, Champions League and qualifying for the World Cup.

Gross winnings from online segment grew by 24% and amounted to 14.5 million EUR. In contrast, gross winnings from betting offices in the Czech Republic declined year on year by 13.7% to EUR 17.2 million.Fortuna generated revenues from the Czech market in the first nine months of 31.8 million euros, which is 0.3% less than last year.

Sportsbook - Slovakia

Slovakia's share in total wagers received (Amounts Staked) group decreased from    32.5% in the first nine months of 2011 to 28.1% in the same period this year. Total Staked amounted in the first nine months of 2012 of EUR 93.8 million, 4.2% less than in 2011. This reduction was mainly due to the limitations of several major players in the beginning of this year.

Gross win in the first nine months of 22.3 million euros, a 3.6% yoy compared to the same period last year. Gross winnings from online gambling were 9.1 million euros, 0.4% less than in 2011. Gross winnings from betting on branches in the Slovak Republic decreased by 5.7% to 13.2 million.Fortuna generated revenues from the Slovak market for the first nine months of the year EUR 17.6 million, which is 5% less than last year.

Sportsbook - FortunaWin

Staked FortunaWin company based in Malta in the first nine months of this year, 3.3 million, which is 15.6% more compared to 2011 onwards. Gross winnings were 76,000 euros, 44.9% less than in the same period last year.

Lottery in the Czech Republic

Staked in Fortuna Lottery achieved during the first nine months of 2012 of EUR 13.9 million, up by 213.8% yoy. Gross winnings from lotteries were 7 million, which is 255.2% more than in the same period last year. Fortuna generated revenues from the lottery for the first nine months of the year in the amount of EUR 7.1 million, which is 254.4% more than last year

In the first three quarters of the year, EBITDA lotteries negative -3.5 million, mainly due to the cost of marketing and further development of the distribution network. This result is in line with the planned year-round loss at the EBITDA level of 4 to 5 million in 2012.

In October were modified rules games loto number of special premium. Beyond the standard wins gets one million CZK whoever is placed in the highest order of the winning move. Price is paid from Lota jackpot until the jackpot falls below 20 million jackpot korun.Jakmile falls below 20 million CZK, payment of one million will be suspended and resumed when the jackpot again swings over 30 million crowns.

Appendix-Selected Economic Indicators (consolidated, unaudited)

Fortuna Entertainment Group NV total

4PT; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0cm "vAlign = top width = 133>

69.7%

4PT; BORDER-TOP: # 000000; BORDER-RIGHT: # 000000; PADDING-TOP: 0cm "vAlign = top width = 133>

70932

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68953

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0.2%

(In thous. EUR)

9M 2011

9M 2012

Change in%

Staked

301666

334074

10.7%

Sports Betting

297227

320146

7.7%

Lottery

4,439

13928

213.8%

-           Lottery: Scratch

2,122

3,602

-           Lottery: number game

2,317

10326

345.7%

Gross win

77993

10%

Sports Betting

70963

2.9%

-           online

20920

25805

23.4%

-           branch

48033

45158

(6%)

Lottery

1,979

7,030

255.2%

-             Scratch

919

1,304

41.9%

-           number game

1,060

5,726

440.2%

Revenues

62431

67636

8.3%

-           Sports Betting

60436

60566

-           lottery

1,995

7,070

254.4%

EBITDA

14204

13327

(6.2%)

-           Sports Betting

18268

16816

(8%)

-           lottery

(4 064)

(3 489)

14.2%

O Fortuna:

Fortuna Entertainment Group is a leading provider of fixed-odds betting in Central and Eastern Europe. Founding company FORTUNA sportsbook, as was established in 1990 in Prague. A year later, the Slovak based company Terno, asIn 2005 he became the owner of both companies investment group Penta, which in the same year took over the Polish bookmaker Profesjonal and all companies gradually united under one brand.

With his twenty years of experience in Central Europe Fortuna standard-setter and trends in fixed-odds betting. The Group continues to invest in developing new products and services, expanding network of retail distribution channels. The Fortuna currently operates in three markets over 1,400 branches. The Group has developed online betting and gaming platform FortunaWin, which enables us to offer our products in new markets. It currently provides FortunaWin betting and gaming products to customers in Hungary.

In October 2010, the company successfully entered the Prague and Warsaw Stock Exchange, majority owner is still Czechoslovak financial group Penta. Launch of number lotteries entered Fortuna in May 2011, when it started selling scratch cards in July, it introduced the first full numerical lottery launched in the Czech Republic for more than 50 years - Fortuna Loto. In November, followed by a day game Gold 11 and in April 2012 SuperLoto game next week.

 

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