Public Listings for Fortuna Entertainment | IXGAMES

This week, investors are anticipating when shares in the Czech company Fortuna Entertainment will hit the market. The land and online-based gambling firm has already announced its intent although no final price has yet been set until October 20. However, the group has already been valued at €230 million with an estimated annual income of €17 million. Thirty-five percent stake anticipated Fortuna Entertainment is owned by a financial group, Penta Investments Limited which has announced last month about its intention to sell about thirty-five percent stakes in the company. Although the rest will be kept to retain majority, Penta Investments aims to have everything cleared by the end of the year. According to reports, the shares will be listed in the Prague and Warsaw stock exchanges. Penta Investments previously declined to comment regarding the sales of Fortuna shares. For months, there has been talk about the Fortuna shares hitting the market. The news came from people who are familiar with the plans although names were never revealed. Constant questioning of the officials have revealed nothing with both people from the Fortuna Entertainment and Penta Investments keeping quiet about their plans. Fortuna Entertainment Group NV After twenty years in the industry, Fortuna Entertainment has gained millions of clients and is one of the most established companies in the gaming community. The company commands a substantial stake in the market with unaudited revenues reaching up to €338 million from Czech Republic, Slovakia and Poland. Currently, the company has shown interest in expanding its holding to further hold its position in the market. Fortuna Entertainment has also been the first one to introduce online gambling to Slovakia and the Czech Republic with online gambling finally being allowed in Slovakia in 2007 and two years later in the Czech Republic. Even with the current talks regarding online gambling, the industry is continuing to grow and become more profitable than ever. As a result, investors may be keen to get a share of the stakes to guarantee profits in the near future. In fact, Fortuna Entertainment has declared a twelve percent growth rate despite the fact that operators only control about fifty percent of the region’s online gambling. Proceeds of the sale Aside from Fortuna Entertainment, Penta also has control on over thirty companies including Aero Vodochody and Zabra Polska SA and total assets amounting to €2.7 billion as seen in its website. Penta, which started in 1994, started private equity investments during the year 2000. The two combined on 2005 although Fortuna has already been operating starting 1991. Currently, plans of expansion are in the works, mainly focused on sites around Eastern Europe. According to reports, whatever funds gained from the sale will be added to the expansion plans of the company to further establish the company’s brands.