EML Payments Limited (ASX: EML) (EML) is pleased to announce that its wholly-owned subsidiary EML Payments Europe Limited has entered into a multi-year agreement with Fortuna Entertainment Group (Fortuna) for the provision of branded reloadable cards that can be used by customers to immediately access their winnings and the ability to remit funds back into their gaming account.
Fortuna is the largest betting operator in Central Europe and is regulated in all markets in which it operates. The program is initially expected to launch in the Czech Republic with the potential to expand to other countries in which Fortuna operates. Fortuna initially launched operations in the Czech Republic in 2009 and is market leader in this market.
EML Group CEO, Tom Cregan, commented that “This is an exciting development for the EML business and we thank Fortuna for selecting EML to partner with and be the first operator to launch these cards in Europe. We look forward to working on the program launch and demonstrating the customer demand for our solution across multiple countries and markets”.
The commercial terms and timing of the product launch are commercial in confidence, and EML will provide an update to shareholders at the appropriate time. The program is subject to standard regulatory, bank and scheme approvals.
The Fortuna Entertainment Group was established in 2009 and it is the largest Central European betting operator. Originally a Czech firm, it has grown into a holding company over time, and it now also operates on the Slovak, Polish, Romanian and Croatian markets. The group is constantly investing in new products and expanding its existing network of branches and services.
Fortuna is an established brand on the market and among customers thanks to its 20-year history. During this period, the group has shaped itself as a leader in setting trends in the betting sector. This has been borne out by the rapid rise in online betting, which the Fortuna Group was one of the first to introduce in Slovakia and subsequently in the Czech Republic and Poland. Professional and experienced bookmakers with an excellent understanding of local markets are the driving force of the company.
Learn more about Payout Cards from EML.