Prominent European lottery operator Sazka Group has reportedly released its third-quarter financial results showing that its consolidated gross gaming revenues rose by 66% year-on-year to hit approximately €769 million ($935 million).
According to a report from G3Newswire, the Prague-headquartered firm also revealed that its adjusted earnings before interest, tax, depreciation and amortization for the three-month period swelled by 32% year-on-year to reach some €207 million ($251 million) to take its net profit up by 33% to about €48 million ($58 million). The source also detailed that this final figure came despite the imposition of various coronavirus-related restrictions on the company’s land-based businesses in Austria, Cyprus, Italy, Greece and the Czech Republic as well as an around €54 million ($65 million) restructuring provision from its holding in casino operator Casinos Austria AG.
Sazka Group is responsible for over 63,000 point-of-sale lottery locations in Europe while its nine-month consolidated gross gaming revenues now reportedly stand higher by some 4% year-on-year at roughly €1.4 billion ($1.7 billion). However, the firm’s adjusted earnings before interest, tax, depreciation and amortization for the period fell by 15% to €375 million ($455 million) as its net profit came in 58% lower at €90 million ($109 million).
Last month reportedly saw American private alternative investments specialist Apollo Global Management Incorporated ink a deal that is to see it invest €500 million ($606 million) into a new holding company that will become the sole owner of Sazka Group with a market valuation of roughly €4.2 billion ($5 billion). This refreshed entity will purportedly be eager to build on the recent good performance of its operations in the Czech Republic and Austria while keeping a close eye on its compatriot ventures in Greece and Cyprus as these remain closed owing to the coronavirus pandemic.