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
Period ended 30 June 2010 (unaudited)
Czech Republic
sports betting
€ 000
Slovakia
€ 000
Poland
€ 000
Malta
€ 000
TOTAL
€ 000
Total amounts staked 100,453 61,341 29,689 75 191,558
-of which: Sports betting - Bets 95,788 58,761 26,621 75 181,245
-of which: Sports betting - Commissions 4,665 2,580 3,068 - 10,313
Paid out prizes (79,495) (46,787) (19,840) (64) (146,186)
Gross win 20,958 14,554 9,849 11 45,372
-of which: Sports betting - Online 5,810 4,638 - 11 10,459
-of which: Sports betting - Retail 15,148 9,916 9,849 - 34,913
Withholding tax paid - (2,934) (3,572) - (6,506)
Other revenues 191 88 196 - 475
Revenue 21,149 11,708 6,473 11 39,341
Taxation of earnings from betting (3,340) - - - (3,340)
Gross profit 17,618 11,620 6,277 11 35,526
-of which: Sports betting - Online 5,001 3,568 - 11 8,580
-of which: Sports betting - Retail 12,617 8,052 6,277 - 26,946
Gross profit margin – Sports betting (%) 18% 19% 21% 15% 19%
7. IMPAIRMENTS
Goodwill and intangible assets
Goodwill and intangible assets with indefinite lives are annually tested for impairment (as at 31 December)
and when circumstances indicate the carrying value may be impaired. The Fortuna Group’s impairment test
for goodwill and intangible assets with indefinite lives is based on value-in-use calculations that use a discounted
cash flow model. The key assumptions used to determine the recoverable amount for the different
cash generating units were discussed in the consolidated financial statements for the year ended 31 December
2010.
The Group considers there are no indications for a potential impairment of goodwill and intangible assets
with indefinite lives as at 30 June 2011.
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