Czech lottery giant to increase stake in Casinos Austria

After protracted negotiations with gaming and anti-trust authorities in Australia, Austria, Switzerland and Canada, the Czech lottery giant Sazka has revealed that it intends to buy an additional 23.04 percent of the shares in Casinos Austria AG, taking its shareholding to 34.04 percent.

Szaka already holds an 11 percent stake following share buys by its subsidiary Game Holding GmbH, and will ask Casinos Austria shareholders for approval at a January 15 shareholders’ meeting..

“In our role as the largest strategic shareholder in the future, we want to continue the path of successful cooperation with all other shareholders and secure the long-term economic success of the company,” said Robert Chvatal, CEO at Sazka group, in a company statement this week.

If successful, the expansion of Sazka’s stake will make the Czech company the majority shareholder in Casinos Austria, which currently operates 27 land-based casinos in eleven jurisdictions around the world.

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