Novomatic sells Casinos Austria shares to SAZKA Group

Novomatic reached Tuesday an agreement with regards to the sale of its 17,19% shares in Casinos Austria AG (CASAG) to SAZKA Group, subject to certain conditions precedent including regulatory approvals and rights of other CASAG shareholders.

This transaction is in the best interest of CASAG to have key and long term shareholders aligned, Novomatic said in a news release, adding that the last six months have shown that clear ownership is essential to successful business.

Novomatic AG will further keep its 11% shares in Casinos Austria’s lottery subsidiary Österreichische Lotterien GmbH. SAZKA Group publicly assures and promises to ÖBAG fair Supervisory and Management Board representation for the future, regardless of size of SAZKA Group shareholding in CASAG.

Harald Neumann, Novomatic CEO, stated: “The previous ownership structure has led to no satisfactory development of Casinos Austria. As the smallest major shareholder, we have therefore decided to sell our CASAG shares in order to allow CASAG a clear ownership structure. It is important to enable a stable and sustainable shareholder structure that secures the company in the long term for the future challenges of national and global markets."

SAZKA Group CEO Robert Chvatal commented: “We believe it is the best solution for the company. We want to ensure stable positive development for CASAG in a long-term partnership of its two biggest shareholders. We are committed to work jointly with ÖBAG and CASAG team to achieve well-being for its customers, employees and communities we do business with. We are prepared to focus on CASAG business and bring innovations to the market.”