Novomatic, Sazka seize control of Casinos Austria
Novomatic and privately-held Sazka Group have agreed a strategic partnership of equals to bring in their respective shares in Casinos Austria and Austrian Lotteries to form a new joint venture company.
Under the agreement, Novomatic and Sazka will serve as shareholders of the brands, with plans in place to use their industry experience to expand both of the businesses.
The deal complies with the request of the Austrian Finance Minister to settle the dispute for the benefit of Casinos Austria.
“[This is] the first essential step towards providing a clear shareholding structure to Casinos Austria and making the company fit on the long term for the future challenges of the domestic and global markets,” Novomatic chief executive Harald Neumann said.
“Furthermore, it is important for us, to reach a common understanding with all shareholders on the way forward.”
Štěpán Dlouhý, investment director at the Sazka Group, added: “We have always stressed our intention to sustainably develop Casinos Austria’s gaming and lottery business jointly with Austrian partners, with a paramount focus on responsible gaming and corporate social responsibility.”
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