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BRIEF-Betting firm Fortuna 2016 core profit down more than expected, sees rise in 2017
March 9, 2017 / 6:29 AM / 7 months ago

BRIEF-Betting firm Fortuna 2016 core profit down more than expected, sees rise in 2017

March 9 (Reuters) - Fortuna Entertainment Group Nv

* Fortuna says 2016 amounts staked EUR 1.04 billion vs EUR 1.037 billion seen in Reuters poll; exceeds company guidance of EUR 1.01 billion

* Fortuna says 2016 EBITDA down 18.5 percent to EUR 22.1 million (vs EUR 23.47 million in Reuters poll), net profit down 42.4 percent to EUR 11.2 million (vs EUR 13.22 million in Reuters poll)

* Company guidance saw 10-15 percent drop in EBITDA in 2016

* Fortuna says expects 2017 amounts staked could grow to EUR 1.3 billion and EBITDA increase by range of 20-25 percent

* Fortuna says 2017 capex expected at EUR 8-10 million

* Fortuna entertainment group says confirms not to pay dividend in 2016 and 2017

* Fortuna announces in separate release its intention to sell its Czech lottery business operated via its subsidiary Fortuna Sazky, transaction expected in Q2

* Company says has been in discussion with potential buyers and has been assessing proposed terms and conditions of the transaction

* Fortuna says in connection with lottery sale booked one-off impairment charges in the amount of EUR 1.9 million Further company coverage:

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