Karel Komarek

William Malcolm

Sazka Group’s 2019 Net Profit Up 35%

Sazka Group, a subsidiary of Karel Komárek’s KKCG, reports 2019 net profits grew 35 percent year-on-year to 311 million euros. Gross revenues increased six percent to 1.91 billion euros.

The company saw increased profitability across all markets and grew its stake in OPAP, the biggest Greek betting firm, said Robert Chvátal, CEO of the Sazka Group. Sazka Group has a 40 percent stake in OPAP, the fourth largest betting company in Europe.

Sazka announced in mid-April that OPAP had acquired 51 percent in Stoiximan, Greece’s largest online betting provider. At the same time, both companies agreed that OPAP would buy another 34 percent, pending approval of Greek regulators.

The group’s activities this year have been affected by the coronavirus, but no company in the group interrupted its business. Online betting has increased due to the closure of some outlets. “At present, many of the restrictions to which our retail networks are being phased out,” Chvátal said.

Sazka Group also holds shares in the Czech company Sazka, the Italian company LottoItalia, and the Austrian Casinos Austria.