Fortuna buys Croatian betting firm Favorit

Deals

Betting company Fortuna has expanded its activities to the Croatian odds betting market where it has gained number two company Favorit, weekly Euro writes in its latest issue due out on Monday.

With the acquisition, Fortuna now has 1,600 branch offices in Central Europe, which gives it the first position in the region. Alongside Croatia and the Czech Republic, Fortuna is also active in Slovakia and Poland. „The Croatian market is developed and odds betting is very popular,” Fortuna CEO Martin Todt told Euro. Since the autumn of 2004, Fortuna and its sister companies in the neighboring states belong to financial group Penta, which bought Fortuna from Michal Horacek and other shareholders for an estimated 2.3 billion koruna (about €87 million, $125 million). Fortuna’s turnover for next year is estimated at around 10 billion koruna and at 3.5 billion koruna in the Czech Republic. (praguemonitor)

ADVERTISEMENT

Farm, food industry confidence improves slightly in Q2 Analysis

Farm, food industry confidence improves slightly in Q2

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.