Operator News
Austria – Sazka completes purchase of Novomatic’s shares in Casinos Austria
By Phil - 30 June 2020
Sazka Group has completed its acquisition of a 17.19 per cent stake in Casinos Austria previously held by Novomatic Group, taking the Czech company’s stake in the business to 55.48 per cent.
Sazka is a Pan-European lottery operator with aggregate amounts staked of more than €17bn and leading market positions in the Czech Republic, Greece, Cyprus, Austria, and Italy.
Robert Chvatal, Chief Executive of Sazka, said: “Together with our fellow shareholders, we are looking forward to increasing the value of Casinos Austria – a treasured national brand – for the benefit of customers, employees, and most importantly of all, Austrian society.”
The Social Democratic Party of Austria (SPÖ) had wanted ÖBAG, which holds a 33.20 per cent stake in Casinos Austria, to exercise its right of first refusal to buy Novomatic’s share, rather than let it be bought by a foreign business, but ÖBAG waived these rights.
Sazka said that its Q1 consolidated gross gaming revenues decreased by 11 per cent to €405m, primarily as a result of the impact of COVID-19 on land-based sales.
The Group’s land-based activities in Greece, casinos and VLTs in Austria and product sales in Italy were closed as a result of government or regulatory measures in March. The Group’s POS networks for lottery products in the Czech Republic and Austria were not subject to restrictions and a substantial majority have operated without interruption. Online channels and Digital-only Games have performed strongly throughout the period, supported by the launch of new products and optimisation of existing offerings as well as changes in customer behaviour as a result of COVID-19. COVID-19 related restrictions began to be relaxed beginning in May. Substantially all of the Group’s operations which were closed have now reopened.
