SAZKA asks EU to probe gambling tax

The gambling giant SAZKA has asked the European Commission to probe tax on lotteries in the Czech Republic.

Czech Republic.- SAZKA Group urged the European Commission to investigate a tax on lotteries in the Czech Republic that it believes is unfair as it grants a state subsidy to other gambling services.

In a statement, the company urged the EU’s state aid unit to rule against the 35% tax on lotteries that was introduced in January. It considers that it positions casinos and betting games that pay 23% in a more favourable financial position, Bloomberg reported.

The European Commission said that it will investigate such claims, while the finance ministry from the Czech Republic said that the difference in taxes isn’t discriminatory or an illegal form of public support because different gambling services don’t directly compete. The ministry also said that European governments have the right to set different rates for different services.

SAZKA Group appoints new CFO

SAZKA Group has announced that Kenneth Morton has been appointed Chief Financial Officer (CFO), effective on February 1. The current CFO Peter Stohr will remain with the company until the end of March to ensure a smooth transition.

Morton has been part of the company for around a year, as he joined KKCG as Head of Corporate Finance in April 2019. The majority of his time has been related to projects with SAZKA Group, including the Voluntary Tender Offer for shares in OPAP and the related financing.