Penta Investments Reportedly Considers Divesting Fortuna Entertainment

Penta Investments, which owns the betting and gaming powerhouse Fortuna Entertainment Group, is reportedly considering selling the operator. According to Reuters, the investment group onboarded JPMorgan to explore a potential sale.

Fortuna, which is one of the leading gambling entities in Central and Eastern Europe, could sell for as much as 2 billion Euros, a Reuters source claimed. For reference, the company’s gambling products are currently available across several noteworthy markets, including Croatia, the Czech Republic, Poland, Romania and Slovakia.

The spokesperson added that the potential sale is still in its early stages. They suggested that Penta might proceed with an auction process towards the end of the summer. This was also confirmed by another spokesperson, Reuters noted.

In the meantime, the news outlet’s sources told it that the process highlights Penta Investments’ commitment to “meticulously evaluating alternative avenues for the future development of the franchise” and the company’s ambition to ensure growth and long-term value.

European Gambling Giants Might Be Interested

The former spokesperson told Reuters that they expect Fortuna’s sale to attract the interest of major European gambling operators and private equity firms. They also noted that Fortuna Entertainment Group has a projected EBITDA of EUR 200 million for 2024. Reuters was unable to confirm this with Penta.

The news outlet also reached out to JPMorgan, which did not respond to the request for immediate comment.

For reference, Penta is a Czech-Slovak Group private equity group founded in 1994. Nowadays, the group develops companies and projects within a number of sectors, including healthcare, finance, retail, manufacturing, real estate and media.

Reuters explained that the Fortuna sale discussions come amid the ongoing regulatory reforms in the United Kingdom and Ireland, which have impacted the valuation of many companies. Valuations have further been affected by higher borrowing costs, the news outlet added.