Fortuna strengthens Romania presence with €47m acquisition
Operator continues Eastern Europe push with second major purchase in recent weeks
Fortuna is closing in on the acquisition of four Romanian gambling companies for a total consideration of €47m, the Czech operator has confirmed.
The Prague-based firm said Wednesday it was finalising a deal for Bet Active Concept, Bet Zone, Public Slots and Slot Arena from Fortbet Holdings Limited – the majority shareholder of Fortuna.
The €47m consideration will be funded through Fortuna cash and bank loans, with €15m deferred for up to two years.
The purchase price was supported by an independent third party evaluation, and still needs to be approved by Fortuna shareholders, but the deal is expected to complete in the second quarter of 2017.
Fortuna said the new companies would be consolidated with its other recent Romanian acquisitions from the Hattrick Sports Group, in an effort to strengthen its position in Central and Southeastern Europe.
Fortuna recently became the first operator to boast a multi-product offering in the newly-regulated Czech Republic market, although it also reported an 18.5% fall in full-year profits, thanks to an increase to the betting tax rate in that market.