Sazka Group said that it is considering an initial public offering in London to boost Europe operations.
Sazka Group, Czech-based lottery and gaming operator, revealed that it is considering a initial public offering (IPO) in London in order to help fund growth in Europe. The group has hired global coordinators to help them make a decision.
Owned by Karel Komarek’s KKCG group and Jiri Smejc’s EMMA Capital, Sazka Group has experienced a significant growth in the last few years thanks to a series of acquisitions. The group said on Friday that it hired JP Morgan Cazenove, Citigroup and Morgan Stanley to be joint global coordinators, even if a decision on an IPO hasn’t been made yet.
Chief Executive Robert Chvatal,commented: “We are evaluating several options to support our growth, including an initial public offering.” And added: “We believe in future growth via product innovations, customer experience in online as well as, when available, via further geographical expansion.”
The group avoided any details regarding a timeframe for a potential IPO. Sazka operates in Czech Republic, Austria, Cyprus and Italy and wants to enter new markets in Europe. For example, it holds a 72 percent stake in a fund that controls 33 percent stake in Greek betting monopoly firm OPAP.
