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NEWS 5 September 2017

Fortuna completes operator acquisition from Forbet deal

By Harrison Sayers
Fortuna Entertainment Group has completed their acquisition of four Romanian operators for €47m from Forbet, firmly entrenching Fortuna as a major gaming operator in the region.

Founded in the Czech Republic in 1990, Fortuna now operates in the Slovakian, Polish, Romanian and Croatian markets.

The deal was announced in a regulatory letter on the company’s website which stated that the agreement was finalised on 31 August.

The Fortuna Group will pay €32m to Forbet, the company which had owned the Romanian operators, as an initial base price with a potential future €15m to be paid through an earnout mechanism.

The deal will see Active Concept, Bet Zone, and Public Slots and Slot Arena all become part of the expanding Fortuna group in Romania. The deal was approved by shareholders in a meeting held 1 August.

The four companies currently operate 787 retail shops, 57% of which are owned with the rest being franchises, employing an estimated 1,200 employees.

The acquisition is in line with Fortuna’s current plans of expanding and growing their gaming business through investments. The new operations will be added to their Hattrick business in Romania which has been instrumental in Fortuna’s growth according to the latest financial reports.

RELATED TAGS: Online | Land-Based | Industry | Mergers & Acquisitions
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