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Walsh to leave Fortuna

19 May 2014

WILF WALSH, the former Coral managing director, is to step down as chairman of central European betting operator Fortuna.

Walsh, who remains a non-executive director at Gala Coral, will leave Fortuna at its annual general meeting.

He had been chairman since May 2012 having earlier acted as vice-chairman of the company’s management board as well as being interim chief executive for the first half of 2012.

In 2009 Walsh became responsible for corporate strategy and the following year helped Fortuna secure its listings on the Prague and Warsaw stock exchanges.

Walsh said: “After five hugely enjoyable years I am stepping down as chairman at the agm in Amsterdam on June 6 to concentrate on UK activities outside betting and gaming, but I will remain a non-executive at Gala Coral.”

Last week Fortuna announced that for the first quarter of 2014 total Ebitda reached €9.4 million, a 17 per cent fall over the same period last year. Total amounts staked increased by 17.5 per cent to €65.9m.

Walsh added: “While some utterly brutal football results impacted Q1 performance, our profit outlook for the full year remains unchanged.

“Turnover grew by over 17 per cent, fuelled by a 40 per cent increase in the number of registered online customers.”

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