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Fortuna Entertainment Group NV (FORE.PR)

FORE.PR on Prague Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Fortuna EGM on acquisition of Hattrick, Romanian firms on April 26
Wednesday, 15 Mar 2017 08:00am EDT 

Fortuna Entertainment Group Nv : Says to hold EGM on April 26 to approve acquisition of Hattrick and Romanian companies . Approval of the acquisition of Hattrick Sports Group Limited one item on agenda [nL8N1G81Z0] . Second agenda item is approval of the proposed acquisition of Bet Active Concept S.R.L., Bet Zone S.R.L.,Public Slots S.R.L. and Slot Arena S.R.L. through two SPVs to be incorporated by the Company in Romania [nL5N1GS0XF] Further company coverage: [FORE.PR] ((jason.hovet@thomsonreuters.com;)).  Full Article

Fortuna buying majority shareholder's Romanian companies
Wednesday, 15 Mar 2017 02:50am EDT 

Fortuna Entertainment Group Nv : says in process of acquiring Penta’s Romanian betting & gaming companies and further strengthens its position in Romania . says intends to acquire Romanian companies Bet Active Concept S.R.L., Bet Zone S.R.L., Public Slots S.R.L. and Slot Arena S.R.L. from Fortbet Holdings Limited, the majority shareholder of Fortuna and the subsidiary of Penta Investment Group . says currently finalising the Share Purchase Agreement . says consideration to be paid for the Acquisition is expected to be around EUR 47 million out of which approx. EUR 15 will be deferred for up to 48 months . says in addition, Fortuna shall refinance around EUR 3 million of Seller’s loans . says consideration will be funded via Fortuna cash and bank loans . says closing of the transaction is expected to occur in the second quarter of 2017 . says purpose of the Acquisition is to consolidate activities performed by the Romanian target companies under the Fortuna umbrella with the Hattrick Sports Group . says also approved the financing for the Acquisition as well as previously announced acquisition of Hattrick Sports Group and refinancing of existing loans of approximately EUR 160 million . says expected term of the loan will be six years and vast majority of the loan will be amortized in quarterly instalments; interest rate will be floating Further company coverage: [FORE.PR] ((jason.hovet@thomsonreuters.com;)).  Full Article

Betting firm Fortuna 2016 core profit down more than expected, sees rise in 2017
Thursday, 9 Mar 2017 01:28am EST 

Fortuna Entertainment Group Nv : Fortuna says 2016 amounts staked EUR 1.04 billion vs EUR 1.037 billion seen in Reuters poll; exceeds company guidance of EUR 1.01 billion [nL5N1GK52I] . Fortuna says 2016 EBITDA down 18.5 percent to EUR 22.1 million (vs EUR 23.47 million in Reuters poll), net profit down 42.4 percent to EUR 11.2 million (vs EUR 13.22 million in Reuters poll) . Company guidance saw 10-15 percent drop in EBITDA in 2016 . Fortuna says expects 2017 amounts staked could grow to EUR 1.3 billion and EBITDA increase by range of 20-25 percent . Fortuna says 2017 capex expected at EUR 8-10 million . Fortuna entertainment group says confirms not to pay dividend in 2016 and 2017 . Fortuna announces in separate release its intention to sell its Czech lottery business operated via its subsidiary Fortuna Sazky, transaction expected in Q2 . Company says has been in discussion with potential buyers and has been assessing proposed terms and conditions of the transaction . Fortuna says in connection with lottery sale booked one-off impairment charges in the amount of EUR 1.9 million Further company coverage: [FORE.PR] ((jason.hovet@thomsonreuters.com;)).  Full Article

Fortuna gets Czech online gaming licence, first under new legislation
Friday, 24 Feb 2017 06:01am EST 

Fortuna Entertainment Group Nv : Fortuna says becomes first company in Czech Republic to receive licence for online gaming under new legislation . says allows for games such as internet roulette or online slot machines . says will be available to customers in coming days Further company coverage: [FORE.PR] ((jason.hovet@thomsonreuters.com;)).  Full Article

Fortuna Entertainment Group buys betting operators in Romania, Croatia and Spain
Thursday, 23 Feb 2017 02:38am EST 

Fortuna Entertainment Group Nv : Fortuna says has entered into agreement to acquire businesses in Romania, Croatia and Spain . Fortuna says will acquire 100 percent share in Hattrick Sports Group . Fortuna says closing is expected in H1 2017 . Fortuna says to pay initial consideration of approximately eur 85 million, funded mainly via bank loans . Fortuna says agreed also earn-out mechanism which may lead to payment of maximum additional eur 50 million . Hattrick owns betting operators Casa Pariurilor in Romania, PSK in Croatia and a joint venture in Luckia in Spain Further company coverage: [FORE.PR] ((jason.hovet@thomsonreuters.com;)).  Full Article

Fortuna Entertainment Group reports gross win up 20 pct in H1
Thursday, 25 Aug 2016 12:29am EDT 

Fortuna Entertainment Group Nv Fortuna Entertainment Group reports first half gross win grew by 20 percent to 80.52 million euros Fortuna Entertainment Group reports first half earnings before interest, tax, depreciation and amortisation (EBITDA) grew 7.7 percent to 9.68 million euros Fortuna Entertainment Group says it maintains its outlook for full-year EBITDA to drop by 10-15 percent in 2016 Fortuna Entertainment Group says its management will propose zero dividend payments in 2016 and 2017 Further company coverage:.  Full Article

Fortuna Entertainment Group NV says will not pay dividend in 2016, 2017 -Reuters
Thursday, 10 Mar 2016 02:01am EST 

Fortuna Entertainment Group NV:Says will propose that no dividend will be paid in 2016 and 2017, the betting company will then announce a general dividend policy at the end of 2017-Reuters.  Full Article

Fortuna Entertainment Group NV signs brand licensing agreement in Romania-Reuters
Tuesday, 15 Sep 2015 03:24am EDT 

Fortuna Entertainment Group NV:Signs an agreement to license its brand to Bet Active Concept and Bet Zone in Romania-Reuters.The companies were part of Penta Investments, company's majority shareholder.  Full Article

Fortuna Entertainment Group NV will not pay dividend in 2015
Tuesday, 7 Apr 2015 10:47am EDT 

Fortuna Entertainment Group NV:Says its board decided to pay no dividend in 2015.Says dividend policy under review due to planned investments.Says revised dividend policy to be announced after end of financial year 2015.  Full Article

Vaclav Broz resigns as Fortuna Entertainment Group NV chairman of the supervisory board
Tuesday, 7 Apr 2015 04:37am EDT 

Fortuna Entertainment Group NV:As of April 3 Vaclav Broz resigns from his post of the company’s chairman of the supervisory board.the reason of the resignation is his departure from Penta Group, the majority shareholder of the company.Vaclav Broz will resign also from statutory bodies of Fortuna´s subsidiaries.His replacement will be proposed to the upcoming general meeting of shareholders that will take place on May 28.Until then, the post of the chairman of the Supervisory Board will remain vacant.  Full Article

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BRIEF-Fortuna EGM on acquisition of Hattrick, Romanian firms on April 26

* Says to hold EGM on April 26 to approve acquisition of Hattrick and Romanian companies