The Czech Sazka Group – in line to bid to run the UK’s National Lottery – is likely to become owner of the lottery group Casinos Austria following the signing of a cooperation agreement with the Austrian state holding company OBAG.
Sazka, a rapidly expanding lottery and gaming group, has quickly become one of Europe’s largest operators in its sectors. Speaking of the Austrian deal, its CEO Robert Chvatal said: “We see this cooperation as a long-term partnership and want to use our expertise in the lottery and gaming sector to help further strengthen Casinos Austria AG and Austrian lotteries.”
It is already the largest shareholder in Casinos Austria with a 38 per cent stake. OBAG has 33 per cent. The agreement between the two was made possible by Novomatic’s decision to sell its 17.2 per cent stake in Casinos Austria that permitted other shareholders to increase their own stakes.
In the agreement, OBAG waived its option and that permitted Sazka to take the majority stake. Now the two groups have agreed to jointly control Casinos Austria for the next 15 years.