[bsa_pro_ad_space id=1 link=same] [bsa_pro_ad_space id=2]

Skip to Content

Supplier News

Austria – Czech businessmen secure 11.34 per cent stake in Casinos Austria

By - 11 September 2015

Businessmen forming the biggest shareholder in Greek gambling operator OPAP have bought a significant stake in Casinos Austria.

The Czech media has reported that investment group KKCG, owned by Karel Komarek and investment holding Emma Capital, owned by George Šmejc, have bought an 11.34 per cent stake in Casinos Austria via its Austrian Gaming Holding.

KKCG and Emma have already partnered in the capital investment fund Emma Delta, which is biggest shareholders in Greek company OPAP. KKCG and Emma Capital acquired the shares in Casinos Austria by buying the company CAME Holding for an undisclosed fee.

KKCG Director Stephen Long said: “The lottery and gaming businesses are key pillars of our business and this move is fully in line with the KKCG Group, to build a major diversified European group focused on the gaming industry. We see a strong strategic link between Casinos Austria on the one hand and our activities at stake and OPAP on the other. We have had many successes in the management of major European gaming companies, and we are ready to cooperate with Austrian partners.”

Casinos Austria and Austrian Lotteries Group achieved record results in 2014 with revenues for the year in excess of €3.6bn, an increase of 2.3 per cent compared to the previous year whilst OPAP’s exceeded €4.2bn. Casinos Austria owns 12 casinos in Austria as well as lottery business Österreichische Lotterien, which includes Lotto, EuroMillions and Rubbellos scratch-off tickets as well as the WINWIN Video Lottery Terminals (VLT) outlets.

Mr. Komarek’s and Mr. Šmejc’s link to OPAP come via their involvement with The Epic Consortium, who owns a 33 per cent stake in OPAP. Headed by Viennese investor Peter Goldscheider, Epic controls 49 per cent of the OPAP deal, with Mr. Goldscheider, holding two to four per cent, with the rest being divided between Mr. Komarek and Mr. Smejc.

Ownership in the Austrian operator is structured extremely complicatedly with shareholders bound by syndicate agreements should a shareholder wish to sell of shares.

Speculation had been rife that that Austrian slot giant Novomatic would be increasing its shareholding in Casinos Austria by buying more shares from Vienna Insurance Group.

Although Austria’s competition watchdog BWB said it wouldn’t not simply ‘wave through’ the planned acquisition of an almost 40 per cent stake in Casinos Austria. That stake would also have been for 11.35 per cent, the amount recently bought by KKCG and Emma Capital.

Until recently casinos Austria held the exclusive domestic right to operate casinos. However that has changed following rulings in 2011 by the European Court of Justice who found the Austrian gaming monopoly contrary to European law. The Austrian Ministry of Finance launched a tender process for Casinos Austria’s 12 existing casinos as well as the three new casino licenses. Six of Casinos Austria’s licenses for city casinos were due to expire at the end of 2012. In December 2012, these licenses were again awarded to Casinos Austria for a period of 15 years. The remaining six licenses for casinos in regional areas were re-awarded to Casinos Austria in October 2013, leaving the three new licenses in Vienna and Lower Austria up for tender.

Share via
Copy link