Sazka Reports 2020 Revenue Boost Due to Acquisitions
Czech Republic headquartered Sazka Group has reported a 6 per cent rise in gross gaming revenue for 2020, to €2.02bn ($2.4bn/£1.7bn).
The boost was due to the firm’s acquisition of a 17.9 per cent stake in Casinos Austria, which was previously owned by Novomatic, in June 2020.
Sazka then acquired an additional stake in Greek operator Stoiximan in July and November, giving it an 84.5 per cent stake overall.
Had Stoiximan and Casinos Austria been left out of the equation, GGR would be down 26 per cent to €1.41bn in 2020.
Across the operator, the Czech Republic performed best as businesses were not closed due to the pandemic. However, elsewhere the firm saw declines in income.
Including full-year results for Sazka’s acquisitions, income from the Czech Republic rose by 10 per cent to €315.2m.
Meanwhile, Greece and Cyprus fell 30 per cent to €1.13bn, with Stoiximan responsible for €268m of that.
Austrian revenue was down 21 per cent to €1.08bn, with €850m from Austrian Lotteries.
Operating expenses increased by 7 per cent year-on-year to €1bn in 2020, with restructuring costs of €50.6m and €115.6m in financing costs.
Adjusted EBITDA was down 11 per cent and the firm’s margin dropped by 1.6 per cent.
Sazka recently rebranded all of its UK operations under the Allwyn moniker. The new brand is part of a portfolio that includes, OPAP in Greece, Lotto Italia, Casinos Austria and its Czech properties.