A bidder in the battle to win the right to run the UK’s National Lottery, the Czech-based Sazka Group, has seen its revenues recover strongly from the pandemic.
Its first half profits to June 30 showed an increase of 94 per cent in GGR to €1.26bn and adjusted EBITDA up by 97 per cent to €397.1m.
During the year its acquired a 4.31 per cent holding in CASAG and then completed its investment of €500m in Sazka Entertainment, its parent. It also increased its holding in Greek lottery OPAP by 2.24 per cent, bringing it to 45.36 per cent in all.
The Sazka business is primarily in the Czech Republic, Austria and Italy for its retail sales and they held up well during the crisis, while its online turnover increased significantly. Casinos in Austria and internationally have shown signs of recovery.
CEO Robert Chvatal said: “We are well positioned, thanks to our diverse range of products, sales channels and geographic exposure, our rapidly expanding online business, our high margins and the strong cash flow generation of our business.”
He reported a 39 per cent rise in Sazka’s Czech online business and Stoiximan in Greece showed an increase of 99 per cent year-on-year. The group had restructured its Austrian casinos business.