Austrian gaming operator and supplier Novomatic AG has agreed to sell its 17 percent stake in Casinos Austria (CASAG), the former state company that runs all of Austria’s casinos, to Czech gaming operator SAZKA Group.
The transaction will increase SAZKA’s stake in Casinos Austria from 38 percent to 55 percent. Novomatic confirms that it will retain an 11 percent stake in Österreichische Lotterien, the operating firm of the Austrian Lotteries, in which it will retain its representation within the Casinos Austria subsidiary’s board.
“The previous ownership structure has not led to any satisfactory development of Casinos Austria,” said Novomatic CEO Harald Neumann, “and as the smallest major shareholder, we have decided to sell our shares in order to give Casinos Austria a clear and sustainable strategy so that the company can meet the long-term challenges of the national and international markets and is prepared for global markets.”
Robert Chvatal, CEO of SAZKA Group, added, “We are convinced that this is the best solution for the company. We want to secure CASAG stable positive development in a long-term partnership between its two largest shareholders.
“We are committed to working together with ÖBAG and the CASAG team to ensure sustainable development for the benefit of our customers, employees and business partners. We are prepared to focus on CASAG’s core business and bring innovation to market.”
