Central European land-based and online betting operator Fortuna Entertainment Group has seen net profit fall by 47 per cent to €4.8m for the six months ended June 30th, a period which saw the company shut down its Malta-based offshore gaming platform FortunaWin.
The company said that results were significantly impacted by the cancellation of online handling fees in Slovakia, less favourable sports results, and higher marketing costs, as well as the impact of strong results in the comparable period last year, which was driven by the 2014 World cup in Brazil.
“The results achieved were driven by strong demand for online sports betting, supported among others by our extended live streaming offer and the cancellation of online handling fee in Slovakia,” said Fortuna Entertainment CEO and chairman Per Widerstrom. “The year-on-year comparison was however affected by the absence of the major sport events this year, particularly by the World Cup in Brazil last year which were driving strong amounts staked at a solid margin last year.”
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