Czech billionaires Karel Komarek and Jir Smejc have formed a new joint venture under its SAZKA umbrella into which the pair’s lottery investments will be funnelled.
KKCG, owned by Mr. Komarek, will take a 75 per cent stake in the new holding, with Mr. Šmejc’s Emma Capital taking the other 25 per cent although both will have the same rights of control.
The newly formed company will be used to manage lottery businesses in Greece, Italy, Austria and the Czech Republic.
The Sazka Group is one of the biggest lottery groups in Europe with stakes in the Greek lottery OPAP and the Italian Lotto Italia. It generates an operating profit of €850m a year.
In Austria, the Czechs have already purchased more than 11 per cent at the Casinos Austria and is teaming up with the Novomatic Group who holds 40 per cent of Casinos Austria, to take the company over.