The Czech and Slovak investment group Penta completed the acquisition of the betting shops Fortuna, Terno, and Profesjonal this week. Due to a strong presence in Slovakia, Poland, and the Czech Republic, it became the biggest provider of exchange betting in Central Europe with annual consolidated revenue amounting to 6 billion CZK.
This week, Penta completed the acquisition of a group of the betting shops associated around the Czech company Fortuna. Penta acquired the Czech joint-stock company Fortuna, the Slovak betting shop Terno, and the Polish company Profesjonal in a two-round international tender at the end of 2004. Penta acquired 100% of the shares of Fortuna and Terno, and Penta owns 33% of Profesjonal (at the same time, Penta managerially controls the latter). Penta acquired the whole block of shares from four physical persons. Upon agreement of all parties, the purchase price and other terms and conditions of the transaction remain confidential.
From the beginning of this year, the Penta investment group has been managing the Slovak Terno, Czech Fortuna, and Polish Profesjonal. Fortuna is number two in the Czech market, Terno is number three in the Slovak market, and Profesjonal is the biggest betting shop in Poland.
“The top management in the three companies has changed only minimally, we have strengthened marketing, made a partial reorganization, and improved financial management,” Martin Kúšik, partner of Penta Investments, comments on changes in the companies.
A visual side of Fortuna has undergone a big change so far. The new owner wishes to strengthen this oldest and traditional brand in the exchange betting market in the Czech Republic. In the spring Fortuna commenced a communication campaign “Bet”, and in the near future, it wishes to introduce new products for players, a new loyalty club, and new numerical games in the market, as well as other advertisement and other marketing campaigns are being prepared. Majority of 600 shops of Fortuna will undergo some changes and get a more trendy look.
Penta acquired Fortuna, Terno, and Profesjonal in a two-round international tender organized by Patria, in which not only business intention and price were decisive but also sellers’ preferences.
“We still feel our responsibility for the future of Fortuna; therefore, we carefully considered to whom we would sell it. Preferentially, we had been interested in cooperation with a renowned domestic group and after the second round of the tender we commenced negotiations with Penta, which finally fulfilled our expectations,” Michal Horáček, one of the founders and owners of Fortuna, said and added: “We have agreed with the new owner upon close cooperation both before and after assumption and I am convinced that Fortuna as ‘the first Czech betting shop’ will survive another 50 years and will satisfy our demanding betters.”
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