The Czech gaming giant Sazka Group has reported that Q1 revenue rose to €526m.
The Czech Republic.- Sazka Group has reported that revenue for the first quarter was up 30 per cent year-on-year to €526m. It reported consolidated EBITDA of €144m, up 4 per cent year-on-year.
Czech gross gaming revenue rose 24 per cent year-on-year, while Italian revenue rose 31 per cent and Austrian revenue 24 per cent, with lottery units seeing record sales.
However, Covid-19 countermeasures continue to hold back the results of Sazka’s OPAP Greece and its Casinos Austria (CASAG) subsidiaries.
OPAP was forced to close most retail venues in Greece during the quarter that ended March 31. That led its revenue to fall 47 per cent to €174m. In Austria, CASAG outlets remain under lockdown orders.
However, OPAP’s Stoiximan online gambling division reported growth of 61 per cent to €103m, and EBITDA of €28m.
Sazka said OPAP and CASAG would continue to operate with tight cost controls until it has a view of when and how venues will be able to reopen.
It continued its European expansion in the quarter, growing its stake in CASAG by 4.3 per cent to more than 60 per cent. Meanwhile, Apollo Global has invested €500m to help secure Sazka’s M&A strategy in the region.
Sazka Group CEO Robert Chvatal said: “I am pleased to report that Sazka Group delivered a robust performance in Q1. Our GGR increased by 30 per cent year on year and our Adjusted EBITDA increased by 4 per cent with a healthy margin of 51 per cent.
“The first three months of 2021 have once again shown that we are well-positioned thanks to our diverse range of products, sales channels and geographical exposure, our rapidly expanding online business, our favourable cost structure, and the strong cash flow generation of our business.
“Overall, I am very pleased with Sazka Group’s continuing strong performance in Q1 2021. I look forward to a great year as our strong trading momentum persists, our impacted businesses in Greece and Austria return to normal conditions, and we continue to make progress on our strategic objectives.”
Sazka creates new brand Allwyn for UK operations
In April, Sazka Group launched a new corporate identity for its push into the UK as it advances with its bid to run the National Lottery.
Sazka’s UK operations, including several digital platforms already active, are now grouped under the name Allwyn.
The new brand, which was created with the London-based agency North, will be run alongside Sazka’s other European operations in the Czech Republic, Austria, Greece, Cyprus and Italy.