Sazka Group acquired more OPAP shares

The Czech company Sazka Group has acquired 23 million shares representing 7.25% of OPAP’s total share capital.

Greece.- Sazka Group has acquired 23 million shares of OPAP through a tender procedure completed on October 29. The shares represent approximately 7.25% of OPAP’s total paid-up share capital and increase Sazka’s total to 40.2%. The Czech company bought the shares for €9.12, which raises the total to €212.7 million.

After the completion of the shares transfer, Sazka will hold, directly or indirectly, approximately 39.9% of OPAP or 40.2% if the own shares are excluded. “Upon completion of the OTC Offer, the offeror will hold, directly or indirectly, a total of 128,593,179 shares, representing approximately 39.98% (of the total paid-up share capital of the Company, including of the Company’s own shares) or approximately 40.21% (of the Company’s paid-up share capital, excluding the Company’s own shares) of the paid-up share capital and voting rights Company,” said a statement from the company.

President of Sazka Group Karel Komarek said: “We are happy to have been able to significantly increase our participation in OPAP through the Public Offer. Our ultimate goal is to obtain We look forward to continuing to invest in OPAP, in collaboration with those shareholders who chose not to sell their shares. We are happy that these shareholders have chosen to continue with us.”

OPAP’s second-quarter finances

Gaming gross revenue (GGR) rose 6.5% to €383.6 million thanks to VLTs contribution and higher lottery performance. Gross profit totalled €152.3 million in the second quarter, which is a 8.6% year-on-year increase. The Greek gambling monopoly said that revenue growth is bringing in higher profitability expansion. EBITDA in the three-month period came in at €87 million, which is a 24% increase year-on-year.

Moreover, operating expenses in Q2 declined by 6.7% at €74.4 million. This was mainly as a result of reduced IT costs following the conclusion of the IT transformation project. Net profit in the second quarter was €34.6 million, an increase of 32.2%.

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Greece OPAP Sazka Group