Know When to Walk Away – Betting Firm Fortuna to Delist Stock from Prague Exchange

Amsterdam/Prague, Feb 16 (CTK) – Fortuna Entertainment Group decided to withdraw its shares from the Prague and Warsaw exchanges at its extraordinary general meeting on Thursday, the company said in a report for the bourse today.


Penta Investments group controls 80.2 percent of Fortuna’s shares.


The company made a short statement, giving no more details about the stock’s delisting and related issues. It only said more information would be provided at the right time.


In January, Penta offered to buy out minority stakes via its unit Fortbet Holdings Limited at Kc182.50 per share on the Czech market and at PLN29.80 per unit on the Polish market.


The stock went down by 1.10 percent to Kc180 apiece on the Prague market today.


Fortuna Entertainment Group, which was set up in 2009, focuses mainly on odds betting. The originally Czech firm with a 25-year tradition was active in the Czech Republic, Slovakia and Poland.


In the past year, the group strengthened its position in the region, entering the Romanian and Croatian markets, and on the Czech market it was the first domestic company to get a licence for operating games on the Internet.


Fortuna entered the exchanges in Prague and Warsaw in 2010.