Half Year Report 2011 - Fortuna Entertainment Group EU

FORTUNA ENTERTAINMENT GROUP N.V.
Notes to the interim condensed consolidated financial statements as at 30 June 2011
2. BASIS OF PREPARATION
The interim condensed consolidated financial statements for the six months ended 30 June 2011 have been
prepared in accordance with IAS 34 ‘Interim Financial Reporting’ as adopted by the European Union.
The interim condensed consolidated financial statements do not include all information and disclosures required
in the annual financial statements, and should be read in conjunction with the Fortuna Group’s annual
financial statements as at 31 December 2010.
FEGNV was incorporated on 4 November 2009 in order to transfer all subsidiaries of Penta forming the
betting business (the subsidiaries) to FEGNV with the intention of an initial public flotation of Fortuna Entertainment
Group N.V. shares on the main market of Giełda Papierów Wartościowych Warszawie S.A. (the Warsaw
Stock Exchange, “WSE”) and Burza cenných papírů Praha, a.s (the Prague Stock Exchange, “PSE”) in
2010. The transfer of the subsidiaries was completed on 12 May 2010 due to certain regulatory approvals
being required to transfer FORTUNA zakłady bukmakerskie Sp. z o.o. The initial public flotation of FEGNV
shares on the Warsaw and Prague Stock exchange was executed on 28 October 2010 and 27 October
2010, respectively.
The interim condensed consolidated financial statements have been prepared on a historical cost basis unless
disclosed otherwise.
The interim condensed consolidated financial statements are presented in Euros and all values are rounded to
the nearest thousand (€000) except where otherwise indicated.
2.1. Basis of consolidation
The interim condensed consolidated financial statements comprise the financial statements of FEGNV and its
subsidiaries as at 30 June 2011.
At the date of these interim condensed consolidated financial statements, FEGNV is the legal parent of legal
entities operating in the betting industry which are ultimately owned by Penta. The interim condensed consolidated
financial statements in accordance with IAS 34 ‘Interim Financial Reporting’ as adopted by the European
Union were prepared by FEGNV, as reporting entity, as at 30 June 2011 and include the following
entities (“Fortuna Group”):
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