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Austria – Novomatic sells stake in Casinos Austria to SAZKA

By - 11 December 2019

Novomatic AG has agreed to sell its 17.19 per cent stake in Casinos Austria (CASAG) to the Czech-based SAZKA Group, subject to certain conditions precedent including regulatory approvals and rights of other CASAG shareholders.

Harald Neumann, Novomatic AG CEO confirmed: “The previous ownership structure has led to no satisfactory development of Casinos Austria. As the smallest major shareholder, we have therefore decided to sell our CASAG shares in order to allow CASAG a clear ownership structure. It is important to enable a stable and sustainable shareholder structure that secures the company in the long term for the future challenges of national and global markets.”

The statement from Novomatic concluded that the transaction is in the best interest of CASAG, ensuring that the Austrian casino monopoly has its key and long-term shareholders aligned.

Novomatic AG will keep its 11 per cent share of the Österreichische Lotterien GmbH. SAZKA Group publicly assures and promises to ÖBAG (Österreichische Beteiligungs AG, which manages the investments of the Republic of Austria in several listed companies), fair Supervisory and Management Board representation for the future, regardless of size of SAZKA Group shareholding in CASAG.

Robert Chvatal, SAZKA Group CEO (pictured) added: “We believe it is the best solution for the company. We want to ensure stable positive development for CASAG in a long-term partnership of its two biggest shareholders. 
We are committed to work jointly with ÖBAG and CASAG team to achieve well-being for its customers, employees and communities we do business with. We are prepared to focus on CASAG business and bring innovations to the market.“

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