Sazka acquires Casinos Austria. Pan-European lottery and sports betting company Sazka Group completed its purchase of a 17.19 per cent stake, previously owned by Novomatic Group in Casinos Austria.
The agreement, first announced on 10 December 2019, brought to an end three years of the companies managing Casinos Austria through “a partnership of equals.”
“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,” said Sazka chief executive Robert Chvatal.
When the transaction took place, Sazka and Novomatic agreed that the joint ownership did not result in substantial growth for the company. They felt that a single leading shareholder would be best served. It decided to sell this to Sazka, as Novomatic had a smaller interest.
Sazka and Österreichische Beteiligungs AG (ÖBAG), the body responsible for managing the Austrian state’s investment activities, then decided to jointly manage Casinos Austria in March this year.
The acquisition sees Sazka increase its stake in the business to 55.48%.
[image: Joss Woodhead]
