Fortuna Profits Up 21 Percent

Czech betting group enjoys a profitable nine months thanks to online operations

Czech betting company Fortuna Entertainment Group has posted a 21 percent rise in core profit in the first nine months of 2014, boosted by growing online betting, prompting it to raise its full-year outlook.

The Reuters news agency reports that EBITDA was Euro 22 million, and the company now expects full-year EBITDA growth of 10 to 20 percent in 2014.

"The main driver of our performance was expansion of internet and mobile sports betting mainly in the Czech Republic where we recorded 35 percent growth in accepted bets," CEO Radim Haluza said.

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