Last Monday, the Athens Securities & Exchange Commission temporarily suspended OPAP SA due to the possibility of a “major imminent corporate event.” Rumor has it that Czech gaming conglomerate SAZKA will buy up a significant part of the former state-owned Greek lottery and sports betting operator.
SAZKA made its move on OPAP after Czech billionaire Karel Komarek Jr. took over SAZKA’s pan-European gambling portfolio last March, reported SBC News. Under the ownership of Komarek’s private equity fund KKCG, SAZKA reportedly wants to aggressively expand its holdings in established European gaming enterprises.
Currently, SAZKA holds a reported 33 percent of OPAP shares. Greek news sources report that Komarek has personally sanctioned the offer of a “40 percent premium of €14-per-share” to assume “full control” of the Athens-listed group.
SAZKA’s gambling portfolio also includes major investments in Casinos Austria and Lotto Italia. KKCG has appointed investment banks Citi Group and Cazenove to review potential options with regards to SAZKA floating on the London Stock Exchange.
