Sazka Group launches OPAP takeover offer
Czech-based lottery giant could pay up to €14-per-share for the remaining 67% stake in Greek betting operator
Czech-based lottery giant Sazka Group has launched a bid to take full control of Greek operator OPAP, one of Europe’s largest betting firms.
Greece sold a 33% stake in OPAP to Sazka Group in 2013 for £583m as part of the country’s EU-backed international bailout.
Sazka Group, controlled by Czech billionaire Karel Komarek Jr, has now made an offer of up to 67% for OPAP’s outstanding shares.
Sazka’s brand breakdown
Several Greek news outlets report that Komarek has personally sanctioned an offer of €14-per-share to take ‘full control’ of the Athens-listed gambling firm, although Reuters reports the price will be €9.12 per share.
OPAP confirmed its board will evaluate Sazka’s offer and will issue an opinion in due course.
OPAP offers sports bets, lotteries and video-lottery terminals in Greece and Cyprus and reported gross gaming revenues of €1.5bn in 2018.
Sazka Group’s own gambling portfolio spans Czech Republic, Greece, Cyprus, Austria, Italy and Croatia, through brands including Casinos Austria and LOTTO ITALIA.