SPORTS BETTING
Penta Investments mulling sale of Fortuna Entertainment betting group
By Phil - 26 March 2024
Penta Investments is considering selling off its betting and gaming division Fortuna Entertainment Group, which operates three betting brands in Czech, Slovakia, Poland, Croatia and Romania for $2.17bn.
Reuters reported that the company had enlisted the help of JP Morgan to help with an auction process a possibility towards the end of the summer.
The consideration ‘underscores Penta’s commitment to meticulously evaluating alternative avenues for the future development of the franchise, ensuring sustainable growth and long-term value creation,’ according to a company source.
The company, which launched in the Czech Republic as the country’s first fixed odds betting operator before expanding into Slovakia in 1991, Poland in 2005 and Romania in 2015, now employs over 5,600 people with EBDITA of €200m expected this year.
