Good Q1-2018 for Fortuna Entertainment

Eastern Europe-facing gambling group Fortuna Entertainment has posted a positive Q1-2018 report, highlighting:

* Revenues up 157.6 percent y-o-y at Euro 110 million;

* Player stakes rose 163.7 percent to almost Euro 800 million;

* EBITDA up an impressive 665.6 percent at Euro 22.8 million;

* Adjusted EBITDA up 724 percent at Euro 222.8 million;

* Total net profit up 923.6 percent at Euro 14 million.

Per Widerström, chief executive and chairman of the board of Fortuna, reported to shareholders:

“The strong reported financial results for the first quarter of 2018 reflect our growth strategy with investments into operational excellence, new platforms and regional expansion. Thanks to that, we recorded a substantial growth in all reported key indicators, driven both by strong organic growth as well as M&A.”

Management confirmed it is on track to meet earlier guidance for the remainder of the year.