Fortuna Online Sports Book To Sell Shares

Published Friday, October 08, 2010 -

European countries have various laws regarding gambling at online casinos, some are restrictive others have legalized and regulated the activity.
The Czech Republic is one central European country where online gambling is totally legal, but with some regulations that are strictly enforced. A requirement that new registrants must register with the Czech Republic's Fortuna’s online sports book in person to verify identification and legal age in order to open an online wagering account. Once the individual is registered there are no other restrictions for online betting.

Fortuna Entertainment Group announced recently its intention to conduct a public offering and subsequent listing of its shares on the Warsaw Stock Exchange and the Prague Stock Exchange.
The public offering will be made in Poland, the Czech Republic and Slovakia, and a private placement with institutional investors in selected jurisdictions outside the Czech Republic, Poland and Slovakia. Fortuna Entertainment Group is the largest Central and Eastern European operator of fixed-odds betting, measured by total amounts staked in retail points of sales. Established in 1990 in the Czech Republic, the Company has gradually grown into a multinational group expanding on the Slovak, Polish and Hungarian markets.

Online gambling laws made the activity legal in 2009, while online gambling in Slovakia became legal a few years earlier, in 2007. Fortuna does not offer online gambling in Poland as yet due to restrictive laws in that country, although the firm is ready should that situation change.
Currently, Penta Investments Limited, founded in 1994, is registered in Cyprus and is the majority share holder of the Fortuna Entertainment Group. Penta is one of the largest Central European investment groups, operating in private equity and real estate investment. Penta will maintain a majority stake of the company.

Fortuna realised a 12 percent growth margin over last year and intends to use the funds from it's sale of shares to maintain the expanding profitability.







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