Central and Eastern European online betting operator Fortuna Entertainment has cited the impact of an increase in sports betting activity as one of the main reasons behind a year-on-year jump in revenue during the three quarters through to September 30.
The company posted revenue of €491.6 million ($609.5 million) during the first nine months of 2014, which represents an increase of 21.3% on the amount achieved at the same point last year.
The amount staked on sports betting during the period grew by 21.8% to €480 million while lottery betting in the nine-month period amounted to €11.6 million, up by 4.4% on the previous year.
Fortuna also noted that an increase in sports betting activity also helped drive to gross win, which improved by 16.6% to €97.2 million.
Sports betting gross win amounted to €91.9 million, up 17.8% on the same period last year, with €48.4 million of this total being attributed to online betting.
Retail betting generated gross win of €43.5 million, up by 3.8% on the previous year, although gross win from Fortuna’s lottery business dropped by 0.7% to €5.2 million.
Total earnings before interest, tax, depreciation and amortisation in the period grew by 21.2% to €22 million, with sports betting responsible for €21.9 million of the total.
source : www.igamingbusiness.com