The Sazka Group, a development group based in the Czech Republic, has received regulatory permission to increase its ownership stake in Casinos Austria AG (CASAG) from 11.3 percent to 34 percent, making the company controlled by Czech businessmen Karel Komarek and Jiri Smejc the formerly state-owned gaming operator’s largest shareholder.
Sazka is expected to continue its quest to gain majority control of CASAG, which owns and operates 12 casinos plus the Austrian Lotteries Group, likely by buying out other large shareholders that include the Austrian state-owned holding company ÖBIB, with a 33 percent stake; and Austrian gaming supplier and operator Novomatic AG, which owns 17.2 percent.
Sazka Group’s principals have tried to acquire Casinos Austria for years, at one point battling Novomatic for control of what was once purely an Austrian state-owned venture.
Sazka still needs approval from the Austrian Ministry of Finance to own an Austrian gaming business, and approval of the government of Queensland, Australia, because CASAG, through a subsidiary, owns a controlling interest in the Reef Casino in Cairns, Australia.
