Czech sports betting operator Fortuna Entertainment Group (FEG) says its 2015 numbers benefited from a surge in online and mobile wagering.
Thursday saw Fortuna, which offers fixed-odds betting services in the Czech Republic, Slovakia and Poland, release a preliminary report on its 2015 performance, which showed a net profit of €19.5m, up 22.5% from 2014. However, profit was flat if you subtract the one-off impact of a value-added tax claim in Poland in 2014.
Overall fixed-odds betting stakes were up 26% to €847.7m while betting revenue improved 11% to €138.7m. Fortuna’s lottery operations reported stakes rising 17.8% to €19.7m while lottery revenue increased 15.5% to €8.7m. Betting accounted for all but €900k of Fortuna’s overall earnings of €27.2m.
Online betting revenue was up 26.4% to €84.7m, driven by strong gains in mobile and in-play betting activity, while retail betting revenue declined 7% to €54m. Fortuna credited the online improvements to the abolishment of an online handling fee in Slovakia as well as Poland’s controversial decision to start prosecuting bettors who dare wager with sites not holding a Polish license.