According to information, Penta Investments is considering the possibility of selling its gambling asset, Fortuna Entertainment Group (FEG).
The Central and Eastern European private equity fund is open to offers to buy Fortuna Entertainment, which is a leading betting company in the Czech Republic and Slovakia, according to Reuters.
The private equity fund of Czech moguls Jaroslav Hascak and Marek Dospiva is believed to be planning to sell Fortuna Entertainment for 2 billion euros, Reuters reported, citing anonymous information. In 2017, Penta acquired full control of Fortuna Entertainment by purchasing a stake in the firm from the Warsaw Stock Exchange.
Financing for the acquisition of Fortuna Entertainment was provided by Balkan gaming group Hattrick Sports Group before Penta acquired the company. This process led to the Czech bookmaker group acquiring the Romanian Casa Pariurilor and the Croatian brand PSK Sports.
According to Reuters, Penta has hired JPMorgan “to explore options for growing its business.” Dealers believe Fortuna could attract more interest from Western rivals looking to expand their presence in under-explored betting markets in central and eastern Europe.
By investing primarily in Eastern European markets and businesses, Penta maintains its portfolio value at €14.5 billion. Key assets include Slovak retail bank Prima, food company Caribona and Czech media group VLM Media.
It is important to note that neither Penta, nor Fortuna Entertainment, nor JPMorgan confirmed this news.
Don’t forget to subscribe to our Telegram channel!
