Novomatic, Europe's leading gaming technology group, and Sazka Group, which represents the investment groups KKCG and Emma Capital, have formed a long-term strategic partnership.
The partners will bring in their respective shares in Casinos Austria and Austrian Lotteries - already acquired or to be acquired - into a joint-venture company.
Novomatic and Sazka Group will be strong and stable shareholders of Casinos Austria and Austrian Lotteries. In co-operation with other shareholders, Novomatic and Sazka Group will use their vast gaming industry experience to further expand the business of Casinos Austria and Austrian Lotteries.
This complies with the request of the Austrian Finance Minister to settle the dispute for the benefit of Casinos Austria. The partners will now engage in discussions with other shareholders in order to align and preserve joint interests in the best possible way.
To Novomatic CEO Harald Neumann this is "the first essential step towards providing a clear shareholding structure to Casinos Austria and making the company fit in the long term for the future challenges of the domestic and global markets. Furthermore, it is important for us to reach a common understanding with all shareholders on the way forward."
“We are very pleased to reach an agreement with such a strong partner as Novomatic and we believe that our co-operation will bring future success to Casinos Austria,” said Stepan Dlouhy, chief investment officer of Sazka Group. “We understand the importance of Casinos Austria for Austria. We have always stressed our intention to sustainably develop Casinos Austria’s gaming and lottery business jointly with Austrian partners, with a paramount focus on responsible gaming and corporate social responsibility.”
The clear target is to settle as quickly as possible the existing legal disputes between Sazka Group and MTB Privatstiftung as well as Medial Beteiligungs with respect to any rights of first refusal in order to then swiftly establish an effective and sustained joint shareholding structure.
Subject to approvals from anti-trust and supervisory authorities being given, the two companies intend to establish a joint-venture company, where their shares in Casinos Austria will be joined together to establish an evenly levelled partnership and pool the existing knowhow in the best possible way for the future development of Casinos Austria.
