Central European gaming and betting operator Fortuna Entertainment Group has signed a licensing agreement that will give two local operators the right to use its brand in the Romanian market.

Agreed through the operator’s Fortuna Game a.s. subsidiary, the deal sees Bet Active Concept and Bet Zone, both owned by Fortuna’s majority shareholder Penta Investments Group, given the right to launch Fortuna-branded sports betting and gaming land-based and online offerings in the market.

Fortuna describes Romania as a key Central Eastern European (CEE) market with strong potential for sports betting and gaming.

“Apart from solid macro-economic fundamentals and a population of approximately 20 million inhabitants, it offers also recently implemented positive regulatory environment and a sustainable tax rate for sports betting and gaming,” the operator noted.

The country passed Emergency Ordinance 92/2014, opening its doors to foreign operators for the first time, with operators taxed at 16 per cent of gross gaming revenue, but only eligible to enter the market upon payment of taxes on pre-regulatory revenue.

So far the country’s regulator the National Office for Gambling (ONJN) has issued 13 iGaming licences, with the likes of PokerStars, Betfair, Unibet and 888 approved to launch in the market.

“Fortuna remains a strong and trusted brand in the Central Eastern European sports betting market and this agreement reinforces how valuable our brand is,” Fortuna chairman and chief executive Per Widerström commented.

“Licensing of our brand opens a door for a further cooperation in multi-channel sports betting and gaming services in Romania and perfectly fits into our strategy to become the number one licensed sports betting and gaming operator in the CEE with the most trusted and exciting multi-channel betting & gaming brand,” he added.

Shares in Fortuna Entertainment Group NV (Co.Data) (PRA:FOREG) have fallen 0.07 per cent to CZK67.90 per share in Prague this morning.

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